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adRise Nets Cash, Content From MGM and Lionsgate

Metro-Goldwyn-Mayer Studios and Lionsgate have made undisclosed equity investments in adRise, the company behind Tubi TV, a free, ad-based on-demand OTT offering that competes with services such as Sony-owned Crackle.

Tied in, MGM and Lionsgate will also license “library content” to Tubi TV, a free VOD service launched in April 2014 that runs on iOS and Google mobile devices, the Amazon Fire TV, Roku players and Roku TVs, the Xbox One and Xbox 360, Samsung connected devices and Apple TV. They said the deal spans “hundreds” of titles, including Midnight Cowboy, Crash, Rain ManThe Hurt Locker, Fargo and American Psycho.

Tubi TV, which inked a movie and TV deal with Paramount Pictures earlier this year, said the Lionsgate and MGM titles will add to its current library of about 40,000 movies and TV shows.

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