Fox Corporation's Q4 2025: Key Contradictions in Investments, Regulations, and Revenue Strategies

Investment in LatAm and Fox One, FCC's regulatory stance and affiliate relationships, Tubi's revenue projections and growth strategy, investment in D2C and digital growth, Fox News ratings and advertising market performance are the key contradictions discussed in Fox Corporation's latest 2025Q4 earnings call.



Strong Financial Performance:
- Fox Corporation reported record revenue of $16 billion for fiscal 2025, up 17% year-over-year, with EBITDA growth of 26% to $3.6 billion.
- This was driven by a 26% lift in total advertising revenue to $7 billion, supported by a banner year of events and strong performance in key segments like news and sports.

Advertising and Sports Performance:
- The company achieved record political advertising revenue of over $400 million and a 17% revenue growth in total view time for Tubi in Q4.
- This growth was fueled by the FOX broadcast of Super Bowl LIX, which generated over $800 million in gross advertising revenue, and the strong engagement trends at FOX News and FOX Sports.

FOX News and Audience Engagement:
- FOX News maintained its position as the most watched cable network, with total day audience up 25% in total viewers and 31% in the demo, with over 60% share of the cable news audience.
- The high ratings were driven by must-watch programming and a strategic focus on delivering engaged audiences at scale.

Digital Growth and Strategic Investments:
- Tubi achieved over 100 million monthly active users, surpassing 1.1 billion in revenue, and delivered 17% growth in total view time in fiscal 2025.
- The company plans to invest in new opportunities like LatAm sports and the launch of FOX One, expecting these to drive future growth and profitability based on the success of Tubi.