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Fox advertising, streaming service Tubi get boost from World Cup

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Fox advertising, streaming service Tubi get boost from World Cup

Ferran Torres of Spain celebrates scoring during the World Cup Final against Argentina at MetLife Stadium in East Rutherford, New Jersey, July 19, 2026.

Michael Regan – Fifa | Fifa | Getty Images

Fox Corp.’s quarterly financial report got a big kick from the FIFA World Cup.

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The company said Thursday that the tournament that took place in North America this summer lifted advertising revenue across the company and drove growth for its free streaming service, Tubi.

Overall revenue was up 28% to $4.21 billion compared with the same period last year. Advertising revenue shot up 78% to $1.92 billion largely due to the World Cup and Tubi. Fox reported its fiscal fourth-quarter and annual earnings on Thursday.

Fox’s broadcast and streaming of the tournament averaged roughly 7.7 million viewers across 104 matches, with the final match between Spain and Argentina drawing a record of nearly 39 million viewers for Fox’s platforms, according to Nielsen. NBCUniversal‘s Telemundo and Peacock, which aired the Spanish-language broadcast of the games, also reaped strong viewership and ad dollars.

Live sports have continued to lift media companies across the board due to the large audiences that games tend to attract. Major sporting events, like the World Cup, Super Bowl and playoff series, tend to bring in the most ad revenue. This week, Disney said during its earnings call that it had already sold out of ad inventory ahead of the next Super Bowl in February.

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Fox CEO Lachlan Murdoch on Thursday’s earnings call with investors said the company’s fiscal year was one of “record financial performance.”

“These are excellent results made even more impressive by the comparison to the especially strong prior year which benefitted from the Super Bowl and presidential election,” he said Thursday.

Lachlan Murdoch speaks at the New York Times DealBook conference in New York City, Nov. 1, 2018.

Stephanie Keith | Getty Images News | Getty Images

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Advertising has emerged once again as a critical component to driving revenue and profitability. Traditional pay TV subscriber losses have led to declines in distribution revenue, and subscriber additions have stagnated for many streaming services as consumers have turned to other options.

For Fox, which has a portfolio of TV networks weighted toward sports and news, advertising revenue has been consistent. The company sold its entertainment assets to Disney in 2019.

Murdoch said on Thursday that Fox had one of its “strongest Upfront in our history with double digit growth in volume. “Upfronts” are the annual slate of content pitches to advertisers.

In June, Fox announced its proposed acquisition of Roku for $22 billion, potentially expanding its footprint in advertising. The company known for its streaming devices also has The Roku Channel, a competitor to Tubi.

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Fox didn’t enter the traditional subscription streaming game until last year, well behind its peers. Up until then, the company had focused on building out Tubi, which is solely reliant on advertising and has been growing its base of younger viewers — a key demographic for advertisers.

Fox has picked specific moments and sports to include on Tubi, including the Super Bowl in recent years. Some games and shoulder programming from the World Cup helped boost the platform, Murdoch said in Thursday’s call.

“Tubi’s World Cup hub attracted over 20 million viewers across the tournament, while additionally the final cast of two early round matches generated two of the highest traffic days in the platform’s history,” Murdoch said.

Fox One, which launched nearly a year ago and includes all of Fox’s content, also benefitted from the World Cup.

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Murdoch said distribution revenue for the quarter increased 5%, due in part by Fox One, “which continues to exceed our expectations.” He noted that the World Cup drove new customers to the service and led to strong retention rates.

Fox’s leadership said when the service launched that it was not intended to cause further pay TV losses, as streaming alternatives have largely done for media companies. Fox One is priced at $19.99 a month, although it is also available in a bundle with Disney’s ESPN direct to consumer streaming platform.

On Thursday, Murdoch said Fox continues “to see minimal cannibalization of our traditional pay TV business” due to Fox One and would continue to explore bundling opportunities. He also noted that Fox One subscribers “are truly incremental.”

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LARRY KUDLOW: Democratic Party socialism is unaffordable

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LARRY KUDLOW: No sock puppet — Kevin Warsh will bring a gust of fresh air to the Federal Reserve

It’s so interesting to me how these socialists who are taking over the Democratic party, are hiding behind the veil of affordability. They don’t want to tell you that their agenda is all about unaffordability, or in short wrecking the whole economy. 

Think of this, they will tax all manner of wealth and income. Indeed, take candidate Abdul El-Sayed and Mayor Zohran Mamdani, who basically want to liquidate any of your gains from successful wealth and work. And they say it all the time. In fact, Mr. Mamdani just yesterday talked about how in New York City apartments, it’s the people who live there who own it, not the owners who own it — that by the way is communism.

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And then there’s the Medicare for All idea which is nothing but a euphemism, not simply for the takeover of the healthcare system, but basically for an economy-wide takeover. They want the government to run the economy. Period. Full stop.

Of course they want to defund the police and ICE, and they want open borders, and rampant illegal immigration, and then the even nuttier stuff of abolishing the senate, changing presidential elections. The insanity grows the more you listen.

Back to affordability, though. The socialists had a leg up on their program during the Biden years. Don’t forget the Green New Deal, and the phony Inflation Reduction Act, and Covid spending long after Covid was gone. Their giant spending bills and their attempted regulation of the economy, led to a 9 percent inflation peek, the highest in four years. And overall, the consumer price index cumulatively rose by 21.4 percent. Okay.

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So Messrs. El-Sayed and Mamdani and Senators Bernie Sanders and Elizabeth Warren and Congresswoman Alexandria Ocasio-Cortez, they had their chance. They got about half the socialism during the Biden years that they would ever do if they won a national election, and look what they did. Is that affordability? Remember, 21 percent inflation. Real wages fell during their period, actually fell. That’s not affordability. So there’s a lesson to be learned here. 

Their affordability mantra is a coverup for a state-run economy and soaring inflation, which is by the way according to polls, working folks including average minority working folks are not voting for them. They went for Trump in 2024.

So that’s a lesson for the GOP. Hone in on the differences between free enterprise capitalism, which rewards success, and puts more money in your pocket, letting you keep more of what you earn, and that is real affordability. 

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By contrast, this new Democratic Party socialism will take money out of your pocket, will lead to rapid inflation from the government’s takeover of the economy, will rob you of your success, and devalue the human dignity of work, enterprise, and initiative.

Think of it this way, socialism is a discouragement to the individual, the economy, and the nation. And antisemitism is perhaps the driving force behind the entire socialist movement. Free market capitalism is an encouragement to the individual, the economy, and the nation. Those are the differences in affordability. Democratic party socialism is unaffordable. And free market capitalism is surely worth fighting for.

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Smith Douglas Homes Corp. (SDHC) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript