Entertainment

Fox will launch the news and sports flow service later this year


Fox Corp remained largely outside the broadcast wars, but this is about to change.

The Chairman of the Board of Directors of Fox Corp. stated. Lachlan Murdoch for Wall Street on Tuesday that his company will launch a direct product for the consumer who will depend on his news and sports origins.

This announcement is another admission that the revenues of the subscription to the television are paid at the borrowed time, as consumers move from video and satellite service providers to broadcasting services.

Murdoch did not provide any details of the service or service prices, which he said would be launched by the end of the year. He said that the plan should not be taken as a sign that the company will abandon the paid traditional TV work.

“We see that the traditional package is still the most valuable for our consumers and the most valuable for the company.” “But after I said that, we want to reach consumers wherever they are, and there are a large number of residents who are now outside the traditional cable package, either rope or rope stations.”

Murdoch said that the planned broadcasting service expectations were “modest.” He said he would pack the current content of Fox News and Fox Sports and will not bear any additional rights costs.

Fox’s only broadcasting characteristics is the Tubi and Fox Nation service, which is a $ 7.99 service in the month run by Fox News, which includes about two million subscribers. Fox result is mostly entertainment and documentary programs with many Fox News programs that are presented a day after running on the cable.

The work of the Fox cable is still strong. Financial results showed in the second quarter that the company achieved revenues of $ 2.17 billion, an increase of more than 30 % over last year. But the world of paid TV homes-now about 70 million in the United States-continues to decrease by about 10 % per year.

Murdoch was a strong supporter of Venu, a joint project with Warner Bros. Discovery and Walt Disney Co. That would have provided broadcasting service with channels that carry its sports real estate. But Vino has not yet deviated from the Earth, a legal challenge from Foupo, which provides a similar service.

After a court ruled that the Venu was anti -competition, the project was closed after the settlement agreement. Disney acquired the majority stake in FUBO and merged with Hulu Live TV.

“Legal deviations about work has become increasingly difficult,” Murdoch said.

But Fox will be homogeneous to a field where some of the main players still lose billions of dollars.

“Nobody wants to leave behind when the broadcast is in line,” said Ross Pins, chief analyst at Emarkter. “But the subscription flow market is already crowded; another participant will do a fierce competition and more difficult profits to get it constantly.”

Times employee writer Meg James contributed to this report.

Leave a Reply

Your email address will not be published. Required fields are marked *