Fox Reports Lower Q2 Earnings Amid 20% Drop in Advertising Revenue

The decline in advertising revenue, attributed to the absence of events like the FIFA World Cup and lower political advertising, impacts Fox's fiscal second-quarter performance.

• Fox's Q2 earnings met Wall Street expectations despite a 20% decrease in advertising revenue compared to the same quarter last year.
• Overall revenues decreased to $4.2 billion from $4.6 billion a year ago, with net income falling to $115 million from $321 million.
• Affiliate revenues rose by 4% to $1.8 billion, driven by the Fox broadcast network, while ad revenues dropped to $2 billion.
• Tubi, part of the television segment, continues to lead as the most-watched free TV and movie streaming service in the U.S.
• Fox, Disney, and Warner Bros. Discovery announce a new sports streaming service targeting 'cord-nevers,' aiming to reach an audience of roughly 60 million in the U.S.

4 Articles

Deadline TheWrap Variety The Hollywood Reporter