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Fox Corporation Class A Common Stock (FOXA) represents a leading force in the media industry, delivering a wide range of news, sports, and entertainment content. The company operates under two primary segments: Cable Networks and Television. Cable Networks focus on Fox News, Fox Business, and several sports channels, while Television encompasses the Fox broadcast network, 28 local television stations, and the ad-supported streaming platform, Tubi.
Fox Corporation's core brands include Fox News, Fox Sports, the Fox Network, and Fox Television Stations. These brands are not only culturally significant but also hold substantial value for distributors and advertisers. The company's extensive reach allows it to create content that captivates and informs audiences, fostering strong consumer relationships and offering compelling products.
In recent years, Fox sold a majority of its entertainment assets to Disney, pivoting its focus towards live news and sports. This strategic move emphasized the company’s strength in these areas, which remain integral to its operations primarily through pay-TV bundles.
Financially, Fox Corporation reported total quarterly revenues of $3.45 billion for the three months ended March 31, 2024. This is a decrease from the $4.08 billion reported in the prior year. The Television segment saw a 9% growth in affiliate fee revenues, contributing to the overall 4% increase in this category. Advertising revenues were impacted by the absence of Super Bowl LVII and fewer NFL games, totaling $1.24 billion compared to $1.88 billion in the previous year. Other revenues also declined due to timing issues related to sports sublicensing.
Net income for the quarter was $704 million, significantly up from a net loss of $50 million in the prior year. This improvement reflects the absence of legal settlement costs and gains from asset contributions to the United Football League joint venture. Adjusted EBITDA also saw an increase of 7%, reaching $891 million.
Fox Corporation continues to invest in and capitalize on its core strengths, while also exploring new initiatives. The company actively engages with its audience through its owned and operated television stations and streaming service, Tubi. The Murdoch family maintains control of the corporation, steering its strategic direction.
For more information about Fox Corporation, please visit www.foxcorporation.com.
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 (FNM) has announced significant programming changes across FOX News Channel (FNC) and FOX Business Network (FBN), effective January 2025. Will Cain will host the 4 PM/ET weekday timeslot with The Will Cain Show, while Charlie Hurt will replace him on FOX & Friends Weekend. The Fox Report and The Big Weekend Show will expand to two-hour formats on weekends.
On FBN, Dagen McDowell will join The Big Money Show, which will extend to two hours from 12-2 PM/ET. The programming changes aim to innovate the lineup and meet viewer needs during what's expected to be a historic news cycle. Will Cain, a licensed attorney and former ESPN personality, will continue hosting his podcast while bringing his experience in news, law, entertainment, and business to the afternoon slot.
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.
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