Marquee is located at the main entrance to Fox News Headquarters in the Newscope Building in Manhattan.
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Fox Corp. Later this year, ahead of the National Football League season, we will launch a consumer streaming service called Fox One.
Fox CEO Lachlan Murdoch announced the name and timing of the company’s upcoming streamers during a quarterly revenue call on Monday. Exact launch dates and prices will be announced in the coming months.
Murdoch did not provide pricing details, but on a call Monday said it was in line with what is called wholesale pricing. That is, he said it was similar to the cost of a pay TV distributor’s channel. Cable TV subscribers will be able to access the service at no additional cost, Murdoch said.
“Pricing is healthy, not a discount,” he said.
“If we attract more connected subscribers, it’s going to be a failure for us… We don’t want to lose our traditional cable subscribers to Fox One,” Murdoch said. He added that the company is doing all “humanly possible” to avoid more subscribers running away from the cable bundle.
Fox will be offering the app as part of a bundle with other distributors and services, Murdoch said. He added that many other streamers have already approached Fox on bundling, and that the company will “will move forward in a lot of those relationships.”
On Monday, Fox reported third-quarter revenue of $4.37 billion, up 27% from the same period last year.
Fox’s finances were lifted by the Super Bowl. The Super Bowl aired in the most recent quarter on its broadcast network and its free advertising support service Tubi. Some of the Super Bowl 59 ads that attracted around 128 million viewers cost $8 million each. Fox reported an ad revenue growth of 65% during the quarter.
The media company known for broadcasting and cable for cable channel Fox News and its sports offers were streaming bystanders compared to its peers. The company has a Fox Nation streaming app and Tubi, but it doesn’t offer all the content yet, offering its consumer-oriented offering.
Murdoch warned investors in February of the company’s plan to provide streaming services by the end of this year.
This decision is lined up right after Fox Warner Bros Discovery and DisneyAbandoned efforts to launch Venu, a joint venture sports streaming app. Fox was the only partner that had a subscription streaming app already on the market.
Warner Bros. Discovery offers live sports content on Streamer Max.
Disney’s ESPN has the ESPN+ app, which develops a new flagship streaming app that reflects the content of cable TV networks. The company will be releasing details about the app this week. CNBC reported last week that ESPN is planning to simply name ESPN for its apps.
