Fox Corp. announced plans to launch a subscription streaming service by the end of 2025, marking its entry into the direct-to-consumer streaming market. CEO Lachlan Murdoch revealed the initiative during the company’s quarterly earnings call, emphasizing that it will include sports and News content.
- Fox Corp. launching subscription streaming service
- Service to include sports and news content
- Fox's late entry into streaming market
- Venu joint venture with Warner Bros. Discovery canceled
- Focus on traditional cable bundle remains strong
- Modest subscriber expectations for new service
Fox Corp. has been relatively late to the streaming game compared to its competitors. The upcoming service aims to cater to the growing number of consumers who have moved away from traditional cable TV. Murdoch stated that the app is currently in development, with more details expected in the coming months. Unlike other media companies, Fox does not plan to incur additional costs for exclusive rights, as it will utilize its existing content.
Key points regarding Fox’s streaming service include:
- The service will feature both sports and news content.
- Fox will not attempt to convert existing cable customers to the new streaming platform.
- The company aims to keep subscriber expectations modest and price the service accordingly.
Fox has maintained stable viewership and advertising revenue, particularly in the sports and news sectors, which continue to attract audiences. Murdoch expressed optimism about the trend of “skinny packages” from pay TV distributors, noting that these often consist of sports and news content, aligning well with Fox’s offerings. The company remains committed to traditional cable while also adapting to the changing media landscape.
In summary, Fox Corp.’s planned streaming service represents a strategic shift to reach consumers outside the traditional cable bundle. With a focus on sports and news, the service aims to attract a diverse audience while keeping operational costs low.
