As the last major American media company yet to enter the streaming realm, Fox may finally be making the leap. Fox Corp. CEO Lachlan Murdoch announced during a Q4 earnings call that the company is considering launching its “own DTC offering in the near future,” which would integrate both Fox’s sports and news properties, potentially debuting by the end of the calendar year.
Fox CEO: Hints at potential for ‘our own DTC offering in the near future’ for sports
— Brian Steinberg (@bristei) February 4, 2025
This decision marks a pivotal shift for Fox, which has not made any of its linear programs—such as Fox, FS1, and Fox News—available on a direct-to-consumer platform. Until now, the company has only dipped its toes into the streaming world with Fox Nation, a subscription service targeting Fox News viewers, and Tubi, a growing FAST platform set to stream the Super Bowl this year. Murdoch’s announcement comes on the heels of the failure of Venu Sports, the aborted joint streaming venture involving Fox, Disney, and Warner Bros. Discovery.
With Venu’s collapse, it seems Fox recognizes the necessity of establishing a streaming presence, even if it’s limited to its own programming. Yet, Murdoch emphasized that Fox’s value remains anchored in the traditional cable model, stating, “We see the traditional cable bundle as still the most value for our consumers and for the company,” while also aiming to capture the “large population outside the cable bundle.”
Fox CEO: ‘We see the traditional cable bundle as still the most value for our consumers and for the company…’ but wants to reach ‘a large population outside the cable bundle’
— Brian Steinberg (@bristei) February 4, 2025
This suggests that the DTC service will be designed to attract those who have never subscribed to pay TV and those who have already cut the cord, while not incentivizing current pay TV subscribers to leave. Murdoch indicated, “No intent to churn a traditional cable customer into streaming customer. ‘Modest’ expectations and will price it accordingly, using existing content without incurring additional rights costs.”
Fox CEO: No intent to churn a traditional cable customer into streaming customer. ‘Modest’ expectations and will price it accordingly. Do not expect any incremental rights cost, service will package existing content and existing brands, cost will be ‘relatively low’
— Brian Steinberg (@bristei) February 4, 2025
However, defining the target customer for Fox’s new streaming service is tricky. The platform will feature limited content, including some NFL games and select college sports, meaning it may serve as just one part of a subscriber’s broader streaming experience. This could be Fox’s strategy; without Venu, the streaming service may position Fox as a content provider rather than just a standalone platform, potentially allowing it to license or bundle its content with more established streaming services.
Ultimately, it appears Fox’s goal goes beyond merely selling its own content directly to consumers; it’s about establishing a platform that can integrate into other companies’ offerings. Murdoch’s indication that the streaming service might launch by year’s end coincides with ESPN’s plans to introduce its own “Flagship” direct-to-consumer offering. A potential partnership could be on the horizon. By year’s end, virtually every notable linear network will be accessible without a traditional pay TV subscription, marking a significant shift in the media landscape.
