Q1 2025 Fox Corp Earnings Call Transcript
Key Points
- Fox Corp (FOX) reported a strong start to fiscal 2025 with a 21% increase in EBITDA, reaching over $1 billion.
- Total company revenues grew by 11% to $3.56 billion, driven by political advertising, Tubi's growth, and strong audience growth at Fox News Media.
- Fox News maintained its position as the most-watched cable network, with significant audience growth in key demographics.
- Tubi experienced a 19% revenue growth during the quarter and is on track to cross the $1 billion revenue mark this fiscal year.
- Fox Sports had a successful fall season, with high ratings for MLB postseason and NFL games, contributing to strong advertising revenue.
- Subscriber declines in the cable segment continue to be a concern, although the rate of decline has moderated slightly.
- Increased expenses due to higher sports programming rights amortization and Tubi's costs partially offset revenue growth.
- The advertising environment post-election remains uncertain, with potential impacts on future revenue streams.
- Fox Corp (FOX) faces challenges in maintaining momentum at Fox News post-election, depending on political outcomes.
- The company is navigating regulatory processes for its investment in Flutter and FanDuel, which could impact future strategic decisions.
Ladies and gentlemen, thank you for standing by. Welcome to the Fox Corporation First Quarter Fiscal Year 2025 Earnings Conference Call. (Operator Instructions) As a reminder, this conference is being recorded.
I'll now turn the conference over to Chief Investor Relations Officer, Ms. Gabrielle Brown. Please go ahead, Ms. Brown.
Thank you, operator, and we apologize for the technical difficulties. But good morning, and welcome to our Fiscal 2025 First Quarter Earnings Call. Joining me on the call today are Lachlan Murdoch, Executive Chair and Chief Executive Officer; John Nallen, Chief Operating Officer; and Steve Tomsic, our Chief Financial Officer. First, Lachlan and Steve will give some prepared remarks on the most recent quarter, and then we'll take questions from the investment community.
Please note that this call may include forward-looking statements regarding Fox Corporation's financial performance and operating results. These statements are based
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