Fox Corp grows Q4 revenue by 6%, sets launch date for D2C offering Fox One

Fox Corp’s year-on-year revenue rose by 6% to US$3.29bn in the fourth quarter (Q4) of its financial year, helped by growing ratings at US cablenet Fox News and an increase in advertising sales at AVoD streamer Tubi.

Lachlan Murdoch

Fox Corp

Across the whole company, affiliate fee revenue climbed 5% to US$1.91bn in the quarter, while advertising was up 7% to US$1.08bn. Net income was US$719m in Q4, versus US$320m a year ago.

In its cable network segment, which consists of Fox News and its suite of Fox sports channels, revenue climbed 6.5% to US$1.53bn. Its television segment, which includes the Fox broadcast network and Tubi, saw revenue grow 5.7% to US$1.71bn.

For full-year 2025, Fox Corp’s revenue was up 17% to US$16.3bn, driven by a 26% increase in advertising revenue, which it attributed to the Super Bowl as well as growth in political advertising and Tubi, and a 5% increase in affiliate fees.

Fox Corp executive chair and CEO Lachlan Murdoch said fiscal 2025 was “another outstanding year for Fox, demonstrating broad-based strength across our businesses and achieving record financial results, all while making important investments in our digital growth assets.”

The company also revealed that its streaming service Fox One, which represents its first significant step into paid streaming, will launch on August 21 in the US and be priced at US$19.99 per month (US$199.99 annually).

The platform will feature all of Fox’s news, sports and entertainment brands, including Fox News Channel, Fox Business Network, Fox Weather, Fox Sports, FS1, FS2, Fox Deportes, B1G, Fox local stations and the Fox broadcast net.

Fox has stressed to investors that the goal of its Fox One streaming service is not to cannibalise its linear business, which is bucking the industry trend by continuing to hold relatively steady in terms of revenue and profit.

“We’re eager to launch Fox One in just a few weeks and super serve our viewers with the best in live news, sports and entertainment content all in one place,” said Pete Distad, Fox Corp’s CEO of direct-to-consumer.

“In bringing together the full power of the Fox content portfolio in one service, we have created a great value proposition and user experience that will appeal to the cord-cutter and cord-never fans currently not served by conventional pay TV packages.”