"Fox is still finding its footing in the streaming era. It didn't operate its own streaming platform until this past summer, with the launch of Fox ONE, and, unlike Disney and NBCUniversal, it lacks lucrative sports rights that help drive viewership. What Fox does have, though, is Fox News. Roughly one-third of total viewing minutes on Fox ONE come from people consuming news, CEO Lachlan Murdoch told investors during the company's earnings call on Wednesday."
"That said, Fox's real streaming success story may be Tubi. Fox got on the FAST train early with its 2020 acquisition of the AVOD platform, which just posted its second straight profitable quarter and its highest viewership to date, according to Murdoch. Still, although Fox's total revenue last quarter slightly beat expectations, it was nearly flat, rising just 2% year over year to $5.18 billion."
Fox entered streaming later than competitors, launching Fox ONE this past summer and lacking lucrative sports rights that drive viewership. Fox News accounts for roughly one-third of viewing minutes on Fox ONE. Tubi, acquired in 2020, has become a profitable AVOD property with record viewership and contributed to streaming performance. Fox's total revenue rose only 2% year over year to $5.18 billion, with advertising revenue up 1% to $2.4 billion; higher sports and news ad rates and Tubi growth were offset by weaker political ad spending and lower ratings. OpenAI announced plans to introduce ads to ChatGPT, prompting industry reactions and competitive positioning. YouTube leads streaming viewing hours while ad budgets fail to match its scale.
Read at AdExchanger
Unable to calculate read time
Collection
[
|
...
]