Fox launching streaming service this year
February 5, 2025
Fox Corp has revealed it is planning to launch a subscription streaming service by the end of 2025.
The direct-to-consumer service, which will offer news and sport content, won’t serve to upend Fox’s place in the traditional cable bundle, CEO Lachlan Murdoch advised on the company’s quarterly earnings call – without offering much further detail. He said the media company is designing the app now for a “modest” service that would be “priced accordingly”, and further information will be released in due course.
Reacting to the news, which comes on the heels of the Venu Sports service cancellation, Brad Altfest, Managing Director of Media and Entertainment at Agora, commented: “It’s exciting to see Fox giving a dedicated streaming app another try. I think it’s interesting to note Mr Murdoch positioning his new entry into the streaming space as both ‘holistic’, and intending to reach an audience that is currently not subscribing to cable packages. The fact that they are also pairing news and sports together, two of the most highly engaging and immediate forms of content that can benefit from interactivity, I can only surmise that the reason they believe their next to attempt will be more successful is that they are planning to bring interactivity and real-time user engagement into the mix. It’s the right decision and it’s about time.”
Fox Corp posted Q2 revenues of $5.08 billion (€4.88bn), up from $4.23 billion YoY, beating analyst estimates. The company saw growth across all revenue streams: affiliate fees increased 6 per cent, advertising revenues rose 21 per cent and other revenues were up 70 per cent. The growth was attributed to higher political advertising, strong MLB postseason ratings, NFL pricing, and digital growth from AVoD service Tubi. Adjusted EBITDA rose 123 per cent to $781 million.