TEGNA Inc. announced Tuesday a strategic investment in free-streaming and TV movie network Tubi TV. The investment extends TEGNA’s position in the over-the-top (OTT) space. Premion, the company’s local ad network for OTT content, will expand its existing relationship with Tubi TV. Tubi TV has a library of more than 7,500 movies and TV series available per month, as well as a proprietary content personalization engine and onboarding process to create a customized viewing experience. Tubi TV will distribute TEGNA’s local content across its platform, offering viewers localized news and other digital content from TEGNA stations. 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.”