Fox Is Understating Tubi's Potential
It's been less than a year since Fox Corp. (NASDAQ: FOX) (NASDAQ: FOXA) announced it was acquiring ad-supported video platform Tubi, but there's no denying it was a smart purchase. CEO Lachlan Murdoch commented last month that the streaming service's revenue was on pace to exceed $300 million this year -- more than doubling last year's top line -- en route to annualized revenue of $1 billion within a few years.
Those aren't the sorts of numbers Walt Disney's (NYSE: DIS) Hulu or Netflix (NASDAQ: NFLX) is generating, but it's impressive growth all the same for an on-demand video platform that only recently received the help of a major media powerhouse.
And Murdoch's suggested $1 billion in yearly revenue may actually be a conservative expectation.
Source Fool.com
