MCLEAN, Va.--(BUSINESS WIRE)--TEGNA Inc. (NYSE: TGNA) today announced a strategic investment in Tubi TV, the industry’s leading free streaming and TV movie network. The investment extends TEGNA’s position in the over-the-top (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 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.
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.
About TEGNA
TEGNA Inc. (NYSE: TGNA) is an innovative media company that serves the greater good of our communities. With 46 television stations in 38 markets, TEGNA delivers relevant content and information to consumers across platforms. It is the largest owner of top 4 affiliates in the top 25 markets, reaching approximately one-third of all television households nationwide. Each month, TEGNA reaches 50 million adults on-air and 35 million across its digital platforms. TEGNA has been consistently honored with the industry’s top awards, including Edward R. Murrow, George Polk, Alfred I. DuPont and Emmy Awards. TEGNA delivers results for advertisers through unparalleled and innovative solutions including OTT local advertising network Premion, centralized marketing resource Hatch, and G/O Digital, a one-stop shop for local businesses to connect with consumers through digital marketing. Across platforms, TEGNA tells empowering stories, conducts impactful investigations and delivers innovative marketing solutions. For more information, visit www.TEGNA.com.
About Tubi, Inc.
Tubi, Inc. is the streaming TV network that offers the largest collection of movies and TV shows free to its audience. Led by a team of passionate entertainment and technology enthusiasts based in San Francisco, Tubi is dedicated to creating the best premium movie and TV experience. Tubi always allows its viewers to be entertained without the hassle of subscription fees or credit cards. For advertisers, Tubi provides a targeted, measurable audience with long engagement times and a positive brand attribution environment.
