Marquee at the main entrance to Fox News headquarters at the Newscorp Building in Manhattan.
Erik McGregor | Lightrocket | Getty images
Fox Corp. Will launch its direct streaming service to consumers, to be called Fox One, before the National Football League later this year.
Fox CEO, Lachlan Murdoch, unveiled the name and calendar of the company's next streamer during a quarterly call on Monday. The exact launch date and prices will be announced in the coming months.
Although Murdoch did not give details on the prices, he declared during the call on Monday, he would comply with the so-called wholesale prices, which means that it would be similar to the cost of channels for paid television distributors. Cable television subscribers will have access to service at no additional cost, said Murdoch.
“Prices will be healthy and not a reduced price,” he said.
“It would be a failure of us if we attract more connected subscribers … We do not want to lose a traditional cable subscriber to Fox One,” said Murdoch. He added that the company was doing everything “humanly possible” to prevent more subscribers fleeing the cable pack.
Fox plans to offer the application as part of Bundles with other distributors and services, said Murdoch. He added that many other streamers had already approached Fox about the regrouping and said that the company “was going to go ahead with a number of these relationships”.
On Monday, Fox reported a budget budget turnover of $ 4.37 billion, up 27% compared to the same period last year.
Fox's finances were lifted by the Super Bowl, which was broadcast on the company's broadcasting network and the free and supported service, Tubi, during the last quarter. Certain advertisements for the Super Bowl 59, which attracted around 128 million viewers, cost $ 8 million each. Fox declared a 65% increase in advertising revenues during the quarter.
The media company, known for the Fox News cable television channel and its sporting offer on broadcasting and cable, had been on the sidelines of streaming compared to its peers. Although the company has the Fox Nation and Tubi streaming application, it has not yet offered its content in a direct offer to consumers.
Murdoch alerted investors in February of the company's plans to offer the streaming service by the end of this year.
The decision came shortly after Fox, alongside Discovery Warner Bros. And DisneyAbandoned efforts to launch, a sports streaming application from Coentreprise. Fox was the only one of its partners without a subscription streaming application already on the market.
Warner Bros. Discovery offers its live sports content on Streamer Max.
Disney's ESPN has its ESPN + application and develops a new flagship streaming application which will reflect the content of its cable television network. The company will unveil more details on the application this week. CNBC reported last week that Espn planned to appoint the application simply ESPN.