#mediabusiness

[vsmartengine]

Your media, your way. Explore the power of Media Jungle for seamless OTT experience

[enterprisewired]

Fox Sports Drives Consumption but Costs Weigh on Fox Corporation’s Earnings

In a recent quarterly earnings call, Fox Corporation’s CEO Lachlan Murdoch revealed that Fox Sports played a pivotal role in driving higher consumption across all Fox brands in the last quarter. Consumption data indicated a 2% increase in viewership during the fiscal year’s first quarter, attributing this growth to Fox Sports. One standout event was Fox’s broadcast of the Women’s World Cup, where the thrilling U.S. versus Netherlands match set a record as the most-watched Women’s World Cup game ever on U.S. English language television.

Impact on profits

However, while sports programming continued to draw massive viewership, it came at a significant cost. The expenses associated with sports programming had a notable impact on the company’s profits, offsetting the revenue growth in its TV segment. Fox Corporation reported a net income of $415 million, marking a 33% decrease from the $613 million earned in the same period the previous year. Major expenses were attributed to the Women’s World Cup and the renewal of National Football League (NFL) rights.

Sports programming is known for being a consistent ratings powerhouse for TV networks. This year’s Super Bowl, broadcast on Fox, attracted a whopping 113 million viewers, ranking as the third-highest viewership of all time. However, the acquisition of sports programming rights comes with a hefty price tag, particularly as linear networks and streaming services compete for broadcasting rights.

Promising Results from ‘Tubi’

The company’s ad-supported streaming service, Tubi, which Fox acquired in 2020, showed promising results. Tubi’s monthly active users surpassed 70 million in September, up from the 64 million reported in February. Despite the success, Fox emphasized that Tubi would remain dedicated to providing entertainment content and had no plans to introduce live sports streaming.

In terms of ad revenue, Fox Corporation reported a 2% decline during the quarter compared to the previous year. This drop was attributed to the absence of political ads that were prevalent leading up to the midterm elections during the same period the previous year.

Commitment toward cable

Fox’s commitment to the traditional cable bundle remains unwavering, with the Fox News channel, known for its conservative-leaning content, continuing to thrive within this model. Despite the ongoing trend of cord-cutting, Murdoch expressed his confidence in the cable bundle, stating that it would remain the company’s largest and most significant revenue stream for years to come.

Analysts at Morgan Stanley echoed this sentiment, acknowledging that Fox remains relatively insulated from the challenges facing general entertainment linear TV but is not entirely immune. Fox Corporation’s ongoing success in sports programming, streaming services like Tubi, and its dedication to the cable bundle make it a prominent player in the evolving media landscape.

Curious to learn more? Explore our articles on Enterprise Wired

[bizzomedia]

Warner Bros. Discovery rebrands HBO Max to just "Max," adding Discovery+ content

On Wednesday April 12, Warner Bros. Discovery announced it will be rebranding HBO Max to Max and adding Discovery+ content to the platform. Starting May 23rd this year, the HBO Max app will be updated to reflect these changes, while Discovery+ remains available as a standalone app, as previously announced.

Max will be combining content from HBO Max and Discovery+, including HBO's House of the Dragon, White Lotus and Succession, as well as Discovery+ unscripted shows from The Food Network, the Discovery Channel and TLC.

This news is not a surprise; Warner Bros. and Discovery completed their merger in April 2022, and having a video streaming service on which viewers can stream content from both Warner Bros and Discovery maximizes the value the platform offers, which boosts the odds of people keeping their subscription to the streaming service. This is important in a competitive streaming landscape. As Discovery CEO David Zaslav said in a presentation last week, "holding subs is as important as adding subs."

There will be three subscription tiers available. Two if these tiers are similar to those currently offered by HBO Max. HBO Max' tier with ads will now be called the Max Ad Light tier, while the price stays the same at $9.99 a month or $99.99 a year. The ad free tier will be named Max Ad Free, and will set subscribers back $15.99 a month or $149.99 a year, which is the same HBO Max' current price for their ad free tier. However, Max will have a new third tier available called Max Ultimate Ad Free. This will cost $19.99 a month or $199.99 a year, allows for an ad free experience on four concurrent streams versus two concurrent streams available for subscribers to the other tiers, streaming in 4K, and up to 100 offline downloads.

Other changes include a simpler user interface, a new content navigation menu, a new default kids profile with parental controls, enhanced personalization, and more.

Interestingly, this is the second streaming service in a month announcing a rebrand. As reported earlier on this blog, Fubo TV recently rebranded to Fubo as well. I wonder if we have a trend on our hands!

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[theofficialradioguardian]

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[rizmona]

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[bizimpact]

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[ronniekingofficial]

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[businessbooky]

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Business Booky offers access to a network of leading entertainment and media companies. This online business directory is designed to save your time from irrelevant results. If you need a location-specific list of media, entertainment, and business magazine companies, then search Business Booky.

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[vsmartengine]

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[thebuildblog]

The new fascinating era of media, and media business.

I was a business executive who worked largely in media business before I became a media business entrepreneur in 2004. I’ve been a media business entrepreneur since. It’s been exciting to watch the evolution of the business. The internet of course was never intended to dismantle or displace traditional media of any legacy platform. Anybody who knows media business and the internet infrastructure would of course know this. The internet infrastructure was created to evolve and improve the distribution of news and information (media). Everybody involved in the invention of the internet infrastructure (which is entirely separate of internet software industry/business/evolution) also knew this. That was that.

The ebbs and flows of an innovation cycle in any market are always interesting to watch. Barriers get lowered, barriers raise up. Elements shift, move, change, all while other elements remain in tact as they do despite any innovation. Fortunately for the media business, it’s on a new wave. The coming two years are going to be very interesting and exciting to see.

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[antonioscarinci]

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[rizmona]

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