Fox (FOX) 4 Nov 24 2025 Q1 Earnings call transcript

Fox Corporation has reported strong operational and financial results for the first quarter of fiscal year 2025, highlighting its continued success and growth. The company's EBITDA of over $1 billion represented a 21% increase, demonstrating the strength of its content and brands. The revenue growth, which reached 11%, underscored the company's ability to deliver outstanding results, with Fox Networks reaching over 145 million people during the election cycle.

Election Cycle Drives Record Political Revenue

The election cycle played a significant role in Fox Corporation's impressive performance, with Fox News being the second most watched network in all of weekday television this past quarter. The network's dedication to news, fair and balanced, generated over 4 billion hours of Fox News media content consumed across linear and digital platforms, highlighting the audience's engagement and loyalty. This commitment to news, particularly during the election, resulted in record political revenue for both the first quarter and the full fiscal year, surpassing the substantial impact of the 2020 Georgia Senate runoff.

Strong Performance Across Segments

Fox Sports also reported a strong fall season, with high-rated programming such as the Yankees versus Dodgers World Series, attracting millions of viewers. The NFL on Fox is off to its best start in five years, averaging almost 26 million viewers including a strong 28% increase in viewership in younger demos. Additionally, the launch of Fox College Football Fridays and the upcoming Super Bowl 59 are expected to further boost the company's revenue and viewership.

Strategic Investments and Market Opportunities

Fox Corporation's focus on digital platforms, such as Tubi, is a strategic move that has paid off. The company achieved record political revenue for both the first quarter and the full fiscal year, with Tubi's large but hard to reach audience and advanced targeting capabilities attracting campaigns looking to maximize reach and efficiency. This shift towards digital platforms underscores the company's ability to adapt and capitalize on market opportunities, positioning it for long-term growth and success.

Looking Ahead

With a strong first quarter behind it, Fox Corporation is poised for continued success. The company's focus on content creation, strategic acquisitions, and digital innovation sets it apart in the media landscape. As it navigates the challenges and opportunities of the evolving media industry, Fox Corporation remains committed to delivering value to its shareholders and stakeholders, ensuring a bright future ahead.