Fox Corporation expects to launch a new stand-alone subscription-based streaming service by the end of 2025, as the company, which has resisted the call to plunge millions into developing premium content for broadband audiences, sees new allure in the business.
Fox Corp. CEO Lachlan Murdoch said the company believed it could reach a new audience separate from the one that watches Fox properties via cable and broadcast. Fox has “no intent” to drive linear audiences to the service, he said, but rather wanted to reach a demographic that does not subscribe to traditional TV services.
“We see the traditional cable bundle as still the most value for our consumers and for the company,” Murdoch said, but the company feels an increasing need to reach “a large population outside the cable bundle.”
More to come…