Fox Corp expects to attract an initial subscriber base in the “mid-single digit millions” for its upcoming streaming platform, CEO Lachlan Murdoch said Monday at the Morgan Stanley Technology, Media & Telecom Conference.
The streaming service, which has yet to be named, is expected to launch around the kickoff of the NFL season this fall, Murdoch said. The company has tapped former Apple TV+ executive Pete Distad to serve as CEO of the venture.
The upcoming streamer will fit into a portfolio that includes Fox News and Fox Sports as well as other streaming platforms like Fox Nation and Tubi as the company looks to diversify revenue streams in the “cord-cutting” era.
“We think the traditional cable bundle has been the greatest value and service to consumers in this country, and it continues to be in a critical and important part,” Murdoch said.
Fox Nation, an on-demand video subscription service that includes series by famed director Martin Scorcese and Kevin Costner’s “Yellowstone,” has between 2 million and 2.5 million subscribers, Murdoch added.
Murdoch also touted recent success at Fox News Channel, which has added “over 100 new clients” in the advertising sector since President Trump’s election victory last November.
“Ratings are up something like 50%,” Murdoch said. “I think because of the election result, many advertisers have sort of rethought their positioning in this country and understand that the Fox News viewer really does represent middle America. And they’re responding by, with their checkbooks.”
Fox News is owned by Fox Corp. — corporate sister to The Post’s parent company News Corp.
With Post wires
