The future is Tubi decided

The new Tubi Media Group CEO also took a moment to thank Massoudi for his partnership since the Tubi acquisition.

“He’s a true pioneer in the streaming space and saw the opportunity in AVOD long before others. The fact that we’re building this new business around Tubi’s brand and the momentum that the company has achieved is testament to everything that Farhad founded, built and delivered over the years,” Cheesbrough said.

Prior to his departure, Massoudi helped Tubi continually grow under Fox.

In an earnings call in February, the company reported Tubi’s ad revenue grew by 25% over last year, reaching more than $200 million, with increases in CPM (cost per thousand viewers reached) and engagement. Tubi also had its highest quarterly viewership in the fiscal second quarter, with total viewing time (TVT) up 41% year over year and December being the service’s highest TVT month ever.

Though Fox didn’t announce specific viewer counts for the AVOD service, Massoudi previously told Adweek that the platform grew to 51 million monthly active users early in 2022.

Tubi Media Group is set to announce the new CEO for Tubi Streaming in the near future, and Massoudi will remain through a transition period until the end of June.