One could say that Disney is making a reality check, while FOX is making a reality show. While Disney is waiting for a cable cord-cutting threshold level whistle for its ESPN sports network to go streaming, FOX continues to see value in its cable sports channels.
According to Lachlan Murdoch, FOX’s CEO, the cable-television pay-wall “drives value of FOX Sports, and will for a long time to come.”
This upbeat view comes despite an eight percent decline in FOX Sports subscribers due to cord-cutting. However, carriage fees for the FOX channels were up for the quarter ended June 30, but advertising decreased by four percent compared with the same period last year.
FOX cable channels’ revenue reached $3.03 billion, allowing the group to post quarterly earnings of $375 million (compared with a profit of $306 million a year earlier).
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