By Andy Marston, Sports Pundit
Fox Corporation reported a 20% revenue boost to $5.1B for its fiscal second quarter (Oct–Dec 2024), with net income more than doubling to $388M, driven primarily by live sports.
CEO Lachlan Murdoch reaffirmed that sports remain core to Fox’s strategy, despite broader media industry challenges, stating:
“We see the traditional cable bundle as still the most value for our consumers, and the most value for our company.”
Fox benefited from strong MLB postseason ratings, particularly a Yankees-Dodgers World Series that delivered the largest audience since 2017.
Fox expanded its college football programming, adding Friday night games that helped drive both viewership and ad revenue.
Despite these successes, Fox scrapped the Venu Sports streaming project (a joint venture with ESPN & Warner Bros. Discovery) due to legal challenges.
Why It Matters:
Live sports continue to be an irreplaceable asset for traditional broadcasters, with Fox proving that premium rights still drive massive ad revenue. However, the company is hedging its bets on streaming, planning to launch its own direct-to-consumer platform in late 2025.
Interestingly, the Super Bowl LIX broadcast on Fox will be streamed on Tubi, which will be a major test of how well digital can complement linear TV. This could help set the stage for Fox’s next move…
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