Fox experienced a significant boost in advertising revenue during the second quarter, driven largely by its coverage of the FIFA Men’s World Cup. The network’s overall ad sales jumped 78 percent from April through June, with the television division seeing an even more dramatic 108 percent increase. Despite this strong performance in advertising, the company’s net profit declined 3 percent year-over-year to $696 million.
Distribution revenue showed more modest growth, rising 7 percent to $2.03 billion compared to $1.94 billion in the prior year period. However, content and other revenue streams contracted, dropping more than 2 percent to $262 million. The television division’s overall revenue climbed 45 percent to $2.5 billion, bolstered by World Cup advertising sales, digital gains at streaming service Tubi, and increased political advertising spending at Fox Television Stations.
For the full fiscal year, Fox reported total revenue of $17.13 billion, up 5 percent from the previous year. Distribution sales increased 4 percent annually, while ad sales rose 7 percent, attributed to World Cup coverage and Tubi expansion. CEO Lachlan Murdoch called the year “exceptional,” highlighting the World Cup broadcast, the launch of streaming service FOX One, and the announced acquisition of Roku as key accomplishments positioning the company for future growth.
Originally reported by Variety →
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