Tubi

Tubi is going bigger and global. The popular free movie-streaming service on Wednesday said it'll spend over "nine figures" on content acquisitions as it expands internationally.

The company's catalog already includes more than 12,000 movies and television series that anyone can watch free with advertising breaks. As Netflix has transitioned away from licensing a deep catalog of movies in favor of original content, Tubi has stepped into that vacuum -- but with an ad-based service instead of one requiring a subscription.

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"In 2018 we at Tubi saw tremendous growth as consumers, fatigued by SVOD subscriptions and services, sought alternative entertainment choices," said Farhad Massoudi, CEO of Tubi, in a release. "We will continue to use profits to make bigger bets on content, enhance the viewing experience, and continue to press ahead into new grounds in what is our core advantage: technology and data."

The streaming service, which is available in the US and Canada, will also launch in more countries this year, according to the release. Tubi expects the first expansion to be announced by March.

Tubi had record growth over the past year with users watching over four times the amount of content in 2018 than the year before, according to the release. The service especially got a bump after Comcast incorporated Tubi TV into X1, the cable giant's internet-inclusive channel, in November.

Tubi will face plenty of streaming competition in 2019, from already established players like Netflix, Hulu and Amazon Prime, as well as from new services. Disney, AT&T and Apple are all expected to launch streaming services in 2019.

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