Fox plans to launch a streaming service by the end of 2025.
A new streaming service will be launched.
Fox plans to launch a standalone streaming service by the end of 2025. During a call regarding financial results, Fox CEO Lachlan Murdoch announced that this new platform will offer a comprehensive package that will include sports and news from the network's existing brands.
Murdoch stated that the goal of this service is to capture the audience that has moved away from traditional cable, emphasizing that it does not seek to replace the conventional cable package. “We fully support the traditional cable package, and we always will,” Murdoch declared. However, he also highlighted the importance of reaching current consumers, many of whom are no longer part of the cable system, whether because they have canceled their subscriptions or have never had one.
The CEO mentioned that expectations for Fox subscribers are "modest" and that the company will price the service accordingly. Currently, Fox operates Tubi, a free ad-supported streaming service, which will stream the Super Bowl for the first time this weekend. Additionally, the company had previously partnered with Warner Bros. Discovery and Disney’s ESPN for a sports streaming service that was ultimately canceled.
With this new streaming service, Fox aims to have its own space to broadcast live sports events. Warner Bros. Discovery already offers live sports through Max, and ESPN has plans to launch its own streaming service later in the year. Other companies like CNN, CNBC, DirecTV, and Xfinity are also betting on the streaming space, which is becoming increasingly competitive.
