Tubi TV, a free ad-supported video streaming service that shows old movies and TV shows, is in talks to raise around $150 million in a new round of funding, according to two people familiar with the plans. If successful, it would be by far the largest round raised by the service and would signal the interest investors have in the ad-supported part of the video streaming market.
Tubi TV is one of a number of companies that have emerged in recent years, also including Pluto TV and Xumo, offering a free alternative to subscription video streaming services like Netflix and Hulu. The free services typically license older programming from studios on a “non-exclusive” basis, which means it is often available elsewhere. Like their better-known paid-subscription rivals, apps for Tubi and its peers often are preinstalled on web-enabled TVs and streaming devices like Rokus and FireTVs.