TEGNA has announced a strategic investment in Tubi TV, the free streaming and TV movie network. The investment extends TEGNA’s position in the OTT space and builds on its leadership in offering marketers access to local advertising in long-form OTT content. Premion, the company’s first-of-its-kind local ad network for OTT content, will expand its existing relationship with Tubi TV to better serve advertising clients.
Tubi TV has the largest premium library of entertainment content with more than 7,500 movies and TV series available per month, as well as a proprietary content personalisation engine and onboarding process to create a customised viewing experience. Tubi TV will distribute TEGNA’s local content across its platform, offering viewers localised news and other digital content from TEGNA stations.
Tubi TV has also seen success with their leading advertising technology platform, which combines data targeting with a robust analytics platform. In addition to adding Tubi TV to a roster of premium OTT providers, Premion will also be able to better serve local and national advertisers through user-targeted, differentiated ads.
“Tubi TV strongly aligns with TEGNA’s focus on OTT content and innovative advertising solutions,” said Dave Lougee, president and CEO, TEGNA. “Through this transaction, we continue to fuel Premion’s growth trajectory and will enhance their ability to deliver unique and high-performing ads in a way no one else can.”
“Tubi and TEGNA share a vision of the future of digital advertising, based on superior technology, targeting and premium content,” said Farhad Massoudi, founder and CEO of Tubi, Inc. “Together, we provide innovative ad solutions within an unparalleled mix of premium content. I look forward to our broader collaboration with TEGNA.”
TEGNA remains committed to investing in innovative, forward-thinking digital companies. In addition to Tubi TV, TEGNA recently made an equity investment in Vizbee, a B2B mobile to TV continuity platform and data company. Similar to Tubi TV, Premion will benefit from Vizbee’s innovative advertising platform to create additional opportunities for clients.