MGM, Lionsgate fatten up Tubi TV

Hollywood studios Metro-Goldwyn-Mayer Studios (MGM) and Lionsgate have invested in fledgling streaming service Tubi TV and agreed wide-ranging licensing deals.

Jim Packer

Tubi, which offers ad-supported access to more than 40,000 movies and TV shows, said MGM and Lionsgate had made undisclosed equity investments and were providing access to hundreds of premium library titles.

The firm has deals with 200 content producers and previously signed a licensing agreement with Paramount Pictures. The latest pact with MGM and Lionsgate provides Tubi with shows such as Midnight Cowboy, Crash, Rain Man and The Hurt Locker.

Farhad Massoudi, founder and CEO at Tubi, said: “Consumers want more streaming premium content without subscribing to yet another app or paying for another channel. Tubi TV’s mission is to make premium content accessible to everyone, everywhere, without having to pay more. Tubi TV will always be free.”

Jim Packer, Lionsgate’s president of worldwide television and digital distribution, said the deal would “ensure that our content is being monetised across every platform, digital and linear, ad-supported and subscriber-based, domestically and internationally.”

John Bryan, president of domestic TV distribution at MGM, added that the deal would enable “consumers to find MGM films and series on multiple platforms.”

Tubi added that US-based Cota Capital had also invested in the company, again not declaring details, joining previous investors Foundation Capital, Bobby Yazdani, Mark Amin, and Noosheen and Zod Nazem.

The firm also revealed that Sandy Grushow, former chairman of Fox Television Entertainment Group and CEO of Phase 2 Media, had joined Tubi’s board.

Tubi TV is available online and via mobile devices as well as connected devices including Roku, Amazon Fire TV, Xbox One and Apple TV.