FOX to Launch Streaming Service Sometime This Year
By Movieguide® Contributor
Another new streaming platform will hit the market by the end of 2025.
FOX Corp. Executive Chairman Lachlan Murdoch spoke with Wall Street analysts on Tuesday, saying that the company plans to launch a streamer sometime this year. No other details were disclosed.
Murdoch’s goal? To “put our content in front of everybody who wants it on any platform.” The platform would also be “holistic of all of our content, sports, and news,” Murdoch said, according to Variety.
“We’re huge supporters of the traditional cable bundle, and we will always be,” he added. “But having said that, we do want to reach consumers wherever they are, and there’s a large population that are now outside of the traditional cable bundle — either cord cutters or cord nevers.”
According to the LA Times, Murdoch explained that the service will be “modest” and will “package existing content and existing brands,” which will remain “relatively low” in cost.
This move by FOX Corp. came after the fall of Venu, “a streaming joint venture that was backed by Fox, Disney and Warner Bros. Discovery. That outlet would have offered all three companies’ sports line-ups, but was foiled by legal challenges, leaving all three backers to pursue their own strategies,” Variety said.
READ MORE: WHY DISNEY SCRAPPED THIS SPORTS STREAMING PLATFORM
“The legal distractions around the business became increasingly difficult to bear,” Murdoch said.
“No one wants to be left behind when streaming replaces linear,” EMarketer senior analyst Ross Benes explained. “But the subscription streaming market is already crowded; another entrant will make competition fiercer and profits more difficult to obtain consistently.”
Although FOX Corp. will be late to the streaming service party, it hopes to make up for lost time through unique services and relatively low prices.
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