Fox is launching a new subscription streaming service called “Fox One,” aiming to reach viewers beyond its traditional cable audience. The service is expected to debut before the fall American football season, as Fox seeks to tap into the growing demand for streaming content.
This announcement follows the company’s recent financial success, where it reported quarterly profits and revenues that surpassed Wall Street expectations. A significant boost came from advertising revenue linked to its broadcast of Super Bowl LIX, which attracted around 127.7 million viewers, making it the largest audience ever for a single-network telecast.
Fox One will be priced according to its wholesale rates, with no discounts offered. CEO Lachlan Murdoch noted that the company plans to partner with other distributors and services, potentially creating bundle deals with other streaming platforms. This strategy is designed to attract new subscribers while retaining existing cable customers.
In the latest quarter, Fox saw its revenue rise by 27% to $4.37 billion, exceeding the estimated $4.18 billion. Advertising revenue alone jumped by 65% to $2.04 billion, also beating expectations. The adjusted profit per share was $1.10, surpassing the predicted $0.91.
Fox has previously focused on its free streaming service, Tubi, which has about 97 million monthly active users. With the launch of Fox One, the company is taking a significant step into the competitive streaming landscape, where it will face off against major players like Netflix.