Fox Launching ‘Fox One’ DTC Platform in the Fall; Super Bowl, Tubi Drive Q3 Television Revenue, Costs
Fox Corp. May 12 revealed the name — Fox One — of its pending direct-to-consumer streaming platform launching ahead of the football season later this year. Exact launch date and subscription cost targeting the internet-only consumers will be disclosed at a later date.
The platform, which will include Fox News and Fox Sports, will engage with third-party content partners targeting streaming consumers.
“It’s time to launch that DTC service,” CEO Lachlan Murdoch said on the May 12 fiscal call. “With the brisk tailwinds from both our strong operating momentum and financial results, we will continue to focus on execution and remain committed to delivering long-term value for our shareholders in a thoughtful and disciplined manner.”
Fox reported a 77% increase in television ad revenue to $1.67 billion in the third quarter, ended March 31, from revenue of $939 million in the previous-year period.
The primary ad drivers included “Super Bowl LIX” and the ad-supported AVOD platform Tubi. The streaming platform in February became the first AVOD service to live-stream the Super Bowl.
The television unit’s operating income fell significantly (59%) to $60 million from $145 million in the due to costs associated with higher sports programming rights amortization, with the Super Bowl and higher digital content and marketing costs.
Fox said a record 128 million viewers watched the Super Bowl across TV and Tubi streaming.
Murdoch said Tubi revenue in the quarter increased 35% revenue, compared with a 31% increase in Q2, which included the 2024 elections.
Murdoch said 24 million average viewers streamed the Super Bowl on Tubi, which included 16 million unique viewers female.
The Super Bowl generated 8 million new registered Tubi users, with view time up 24% year-over-year.
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