Fox Profit Doubles as Ad Surge Sets Stage for $20 Fox One Launch

Fox Corp. reported a stronger-than-expected fiscal fourth quarter, with revenue rising 6% from a year earlier to $3.29 billion and net income more than doubling to $719 million. Adjusted earnings came in at $1.27 a share, while adjusted EBITDA climbed 21%. The company credited a 7% jump in advertising sales to $1.1 billion, driven by its free, ad-supported streamer Tubi and improved ratings at Fox News, where total-day viewership grew 25% for the period. Chief Executive Officer Lachlan Murdoch told investors that linear television remains Fox’s “favorite distribution model,” but highlighted growing digital audiences: two-thirds of Tubi users are cord-cutters or cord-nevers, and the service accounted for a quarter of the company’s upfront advertising commitments. Murdoch confirmed that Fox will introduce a new direct-to-consumer outlet, Fox One, on 21 August. The $19.99-per-month service will bundle existing Fox sports, news and entertainment programming—including Sunday NFL games and postseason MLB coverage—but will launch without original content. The executive described launch and marketing costs as modest and set “modest” expectations for early uptake, positioning the product as a complement to the traditional pay-TV bundle.