Fox Corp. has revealed plans to launch its own subscription streaming service by the end of 2025.
The company, known for its popular news and sports content, has been noticeably absent from the streaming race but is now making its move to tap into the growing demand for direct-to-consumer platforms.
CEO Lachlan Murdoch shared the news during the company's quarterly earnings call, stating that the streaming service will feature a mix of Fox's sports and news programming.
While few details were provided, Murdoch mentioned that the app is currently being designed, and more information will be released in the coming months.
Unlike other media giants, Fox has been cautious with its streaming ventures. It has primarily relied on its ad-supported platform, Tubi, which boasts 97 million monthly active users, according to Reuters.
Fox Cancels Venu Sports Streaming Project, Focuses on Own Subscription Service
Fox also offers Fox Nation, a service with exclusive content and on-demand shows from Fox News. Additionally, the company will be streaming the Super Bowl on Tubi for the first time this year.
CNBC reported that the move into subscription streaming comes after Fox, along with Warner Bros. Discovery and Disney, decided to cancel a planned joint sports streaming app called Venu.
Legal issues delayed the app's launch, and eventually, the companies chose to abandon the project. While Warner Bros. and Disney have launched their own sports streaming options, Fox has not had an alternative for offering sports content outside traditional cable TV.
Murdoch emphasized that Fox's new streaming service would not aim to replace its traditional cable business, but rather to reach the growing audience of cord-cutters and "cord-nevers"—those who have never subscribed to cable.
"We're huge supporters of the traditional cable bundle, and we always will be," Murdoch said.
The company plans to keep subscriber expectations modest and intends to price the service competitively. It won't incur the high costs of exclusive sports rights, as the content will come from Fox's existing media assets.
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