A Fox News panel is seen on a television vehicle outside the New York News Building Building on November 8, 2017.
Shannon Stapleton | Reuters
Fox Corp. Finally is penetrated into direct streaming game to the consumer.
The company known for its content of news and sports television said on Tuesday that it was aimed at launching a subscription streaming service by the end of the year.
The streaming service is not intended to upset Fox's place in the traditional package, said CEO Lachlan Murdoch during the quarterly call of the company. Murdoch offered few details on the streaming service beyond the high-level ad. He said the company designs the application now and that more information will be published in the coming months.
Fox's upcoming streaming option should include its sporting and news content, Murdoch said.
Unlike its inherited media competitors, Fox has so far been on the sidelines of streaming, with the exception of the Fox Nation streaming application, which includes exclusive programming to the Fox News service at Fox News, and its free and supported service service. Fox, which will broadcast the Super Bowl on Sunday, is also offer The biggest NFL match on Tubi for the first time.
However, the late passage in the subscription -based streaming comes after Fox, alongside Discovery Warner Bros. And Disney, in January Abandoned To launch a joint venture sports streaming application called Venu.
The three companies had planned to bring together all their sporting content and offer it to the Venu streaming service. However, following legal obstacles that delayed the fall of the fall 2024 fall launch date, the companies canceled their plans.
Of the three partners, Fox was the only one without any other option to offer its sporting content outside the cable television bundle. Warner Bros. Discovery offers its live sports content on Streamer Max. Disney's ESPN has its ESPN + application and develops a distinct ESPN streamer directly to the direct consumer. The company aims to launch in August from the ESPN “Flagship”, the unofficial name of the all -inclusive ESPN service.
Murdoch de Fox described the end of “the only disappointment of the company in sport”.
Fox concentrated its strategy on sporting and news content after having sold its entertainment assets in Disney in 2019. The company reported stable viewers and advertising revenues, even during the recent advertising market crisis. Sports and live news remain the best rated content of the traditional Bundle TV, even if consumers cut the cord for alternatives in streaming.
“We are huge supporters of the traditional cable pack, and we will still be,” said Murdoch during Tuesday's call. “But that said, we want to reach consumers wherever they are, and there is a large population, obviously, which is now outside the traditional cable package.”
He said that the expectations of the company's subscribers “will be modest and that we will assess the service accordingly”. He added that Fox does not intend to convert traditional cable television customers into customers streaming with the application.
Murdoch said that the company does not expect exclusive rights or additional fees on additional rights “and simply packing its existing content. This means that the costs of creating and distributing the platform will be” relatively low “, in particular compared to competitors.
In addition to overflowing billions for original entertainment programming, media companies have been Spend a big On the exclusive rights of sports media for their streaming platforms. In many cases, exclusive live sports have helped to stimulate the growth of subscribers and advertising revenues for streamers.
Tuesday, Murdoch also noted the Recent recent So -called lean packages of traditional remuneration television distributors, saying that this augurs well for the Fox wallet, because these packages are most often made up of sporting and news content.
“We are very satisfied with this tendency of the package. It is financially, economically positive for us,” said Murdoch on Tuesday. “We hope that this package will be attractive for wireless customers – the Cordon and the Nevers of the Cordons.”
