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Fox Corporation (NASDAQ: FOXA, FOX) is a leading American news, sports, and entertainment company. Operating through two segments—Cable Networks and Television—Fox Corporation's prominent brands include Fox News, Fox Business, Fox Sports, and the Fox Television Stations. The company also boasts the ad-supported streaming platform, Tubi.
The Cable Networks segment features major entities such as Fox News and Fox Business, alongside various pay-TV sports stations. Meanwhile, the Television segment encompasses the Fox broadcast network, which operates 28 owned and operated local television stations, with 18 affiliated to the Fox network. Tubi, known for its vast library of free, ad-supported streaming content, is also part of the Television segment.
Significantly, in 2019, Fox Corporation sold most of its entertainment assets to Disney, pivoting its focus primarily on live news and sports content. The Murdoch family maintains control over Fox.
Recently, Fox Corporation reported total quarterly revenues of $3.45 billion for the three months ended March 31, 2024, compared to $4.08 billion in the prior year quarter. However, the company saw a 4% increase in affiliate fee revenues, driven by a 9% growth in the Television segment and a 1% growth in Cable Network Programming. Advertising revenues were recorded at $1.24 billion, compared to $1.88 billion the previous year, which had included the Super Bowl LVII broadcast.
In terms of profitability, Fox reported a quarterly net income of $704 million, up from a net loss of $50 million in the previous year. This improvement reflects the absence of prior charges related to legal settlements at Fox News Media and a gain on USFL assets contributed to the United Football League joint venture. Adjusted net income attributable to Fox Corporation stockholders was $520 million, or $1.09 per share.
Fox Corporation continues to be a pivotal player in the media landscape, leveraging its strong brand presence and commitment to delivering engaging news and sports content. For more information, visit Fox Corporation's website.
FOX News Digital secured its position as the leading news brand in 2024, achieving significant growth across all digital metrics. The platform recorded 41 billion total multiplatform minutes (up 11% vs. 2023), 21.1 billion total multiplatform views (up 5%), and averaged 110.7 million monthly unique visitors.
Notable achievements include a 20% year-over-year increase in YouTube views, reaching 2.8 billion views, and maintaining leadership in social media engagement with 404.4 million total interactions (up 34%). The FOX News Mobile App averaged 6.2 million monthly unique visitors. Meanwhile, competitor CNN experienced declines in multiplatform views (-4%), minutes (-3%), and unique visitors (-7%).
FOXBusiness.com demonstrated strong performance with 2 billion multiplatform views in 2024, outperforming CNN Business, WSJ Online, and other major business news sites.
OutKick, FOX 's sports multimedia platform, reported significant growth in Q4 2024 compared to Q4 2023. The platform achieved 7.8 million average monthly desktop and mobile unique visitors (up 28%), 97 million total multiplatform views (up 33%), and 91 million total multiplatform minutes (up 25%).
Social media performance showed strong momentum with 5.1 million social actions (up 25% vs. previous quarter) and 48.3 million total video views across Facebook, X, and YouTube (up 25% vs. previous quarter). The platform has expanded its influence by featuring prominent sports media personalities like Charles Barkley, Dan Patrick, Bob Costas, and Stephen A Smith, while focusing on sports, culture, entertainment, and politics coverage.
Fox (FOXA, FOX) has announced it will host a live audio webcast to discuss its second quarter fiscal 2025 financial results on February 4, 2025, at 8:30 a.m. ET / 5:30 a.m. PT. The company will release its financial results approximately 30 minutes earlier, at 8:00 a.m. ET / 5:00 a.m. PT on the same day. Both the live presentation and archived webcast will be accessible to investors through the company's investor relations website at investor.foxcorporation.com.
FOX News Media has announced significant programming changes across FOX News Channel (FNC) and FOX Business Network (FBN), effective January 2024. Will Cain will host the 4 PM/ET weekday timeslot on FNC with The Will Cain Show, while Charlie Hurt will replace him on FOX & Friends Weekend. The Fox Report and The Big Weekend Show will both expand to two-hour formats on weekends.
On FBN, Dagen McDowell will join The Big Money Show, which will expand to two hours from 12-2 PM/ET. The changes reflect FOX News Media's strategy to innovate programming and meet viewer needs during what they anticipate to be a historic news cycle. The Will Cain Show will feature conversations with newsmakers across politics, business, culture, and sports in a podcast style format.
Fox News Channel (FNC) achieved remarkable success in 2024, securing its position as the highest-rated cable network for the ninth consecutive year. The network captured 56% of cable news primetime audience and 53% in total day, marking its highest share since 2015. FNC averaged 2,384,000 primetime viewers (up 30% vs 2023) and 1,458,000 total day viewers (up 21% vs 2023).
'The Five' made history as the first non-primetime show to exceed 4 million viewers in Q4, while 'Gutfeld!' led all cable news in the 25-54 demographic. FNC dominated election coverage, reaching nearly 13.6 million viewers on election night. The network outperformed competitors CNN and MSNBC, with CNN recording its lowest viewership in network history and both competitors experiencing significant audience decline post-election.
OutKick, FOX 's sports multimedia platform, reported significant growth in November 2024. The platform achieved 7.7 million total desktop and mobile unique visitors (up 21% YoY), 34 million total multiplatform views (up 39% YoY), and 32 million total multiplatform minutes (up 38% YoY).
Social media performance was equally impressive, with 2.1 million social actions across Facebook, X, and Instagram (up 64% YoY and 11% MoM), and 17.7 million total video views on Facebook, X, and YouTube (up 94% YoY). The platform's success is attributed to its coverage of stories at the intersection of sports, culture, and politics.
FOX News achieved remarkable digital performance in November 2024, leading news brands with 4.5 billion total multiplatform minutes (up 57%) and 2.4 billion views (up 43%). The network set a YouTube record with 402 million video views, marking a 114% year-over-year increase. FOX News Digital attracted 114.9 million unique visitors, while their mobile app reached 7.2 million users. The network dominated social media engagement with 51 million total interactions. Meanwhile, FOXBusiness.com maintained its leadership position over CNN Business and Bloomberg.com, generating 162 million multiplatform views. In contrast, CNN experienced declines in both multiplatform views (-3%) and minutes (-8%) compared to November 2023.
FOX News Channel's Sean Hannity launches a new long-form interview show titled 'Sean' on FOX Nation, featuring in-depth conversations with notable figures from sports, entertainment, and politics. The show premieres with Sylvester Stallone and Jennifer Flavin Stallone as first guests, followed by future episodes featuring Stephen A. Smith and Jillian Michaels.
The monthly series aims to explore guests' life journeys, challenges, and successes through candid conversations. As the longest-running primetime cable news host, Hannity brings his experience of interviewing key newsmakers to this new format. FOX Nation, recently named one of the top 10 fastest-growing brands among Gen Z adults, offers this show as part of its streaming service designed for FOX News Channel's most dedicated viewers.
Fox announced that CFO Steve Tomsic will participate in the UBS Global Media and Communications Conference on December 9, 2024. The presentation is scheduled for 12:00 PM Eastern Time (9:00 AM Pacific Time). Interested parties can access both live and archived versions of the presentation through Fox 's investor relations website at investor.foxcorporation.com.
FOX News Channel (FNC) achieved its highest-ever share of cable news audience, commanding 62% of viewers during the election month. The network marked 45 consecutive months as number one in both primetime and total day viewership. FNC delivered 3.2 million primetime viewers and saw an 86% year-over-year growth. Post-election, FNC's audience rose 24% in primetime while competitors CNN and MSNBC saw significant declines of 39% and 52% respectively. FNC dominated Election Day coverage across platforms with 13.6 million viewers and led television ratings during Vice President Harris' concession speech with nearly 8 million viewers.
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