Fox is planning to launch a reconciliation -based transmission service by the end of 2025, the media company said Tuesday, entering the Netflix dominant arena to knock the audience outside its cable television business.
The shares of the Murdoch family -controlled company increased more than 4%, as it also reported second quarter sales and profit on Wall Street expectations thanks to an increase in advertising driven by elections on its news network.
The Fox News owner has largely reduced the broadcast competition between Legacy Media and companies such as Netflix, instead of this betting on advertising from its free TUBI transmission service that has about 97 million active users and has one the third of its viewers on 18 -34 age groups coveted by advertisers.
The tube is set to broadcast Super Bowl for the first time on Sunday, along with Fox Sports.
Fox had also planned to join Walt Disney and Warner Bros Discovery for a direct enterprise of sports called Venu, but the very heralded effort was sheltered earlier this year due to considerable legal opposition.
Fox wants to reach “a large population is undoubtedly out of the traditional cable package, whether cord or cord -connected cutters,” CEO Lachlan Murdoch Analysts told a call, referring to his transmission service plan of reconciliation.
The US cable industry is losing millions of viewers every year in the broadcast, forcing heritage media firms, including Comcast to rethink their traditional TV businesses.
Murdoch signaled Fox would not put his new transmission service in front of Cable TV, a business that remains highly dependent.
“We are great supporters of the traditional cable package, and we will always be,” he told the analysts, adding that the reception of FOX subscribers for the new transmission service will be “modest and service will be priced at compliance with circumstances. “
The new service will have all the content of FOX, including its news network, according to a company spokesman.
Some analysts warned that the mass could be dangerous.
“The reconciliation market is already crowded, another entry will make the competition toughest and the most difficult profits to get continuously,” said analyst Emarketer Ross Benes.
Fox reports followed a second strong fiscal quarter, with its $ 5.08 billion revenue, beating the estimates of component LSEG analysts of $ 4.85 billion. Its 96 cent -regulated profit was also higher than 67 cents ratings.
The results benefited from the presidential election in November, with the Magna Global Research firm estimating political advertising brought $ 6 billion in Media Legacy.
Fox advertising revenues increased to $ 2.42 billion from about $ 2 billion last year. The company also received an incentive from the highest baseball ratings Major League for the 2024 season, she said.
Fox and News Corp, owner of the post, share joint ownership.
#FOX #start #reconciliation #transmission #service #shares #thrown #advertising #choices
Image Source : nypost.com