Fox's Big Win: Cash Flows from Sports and Politics

Fox Corp. recently announced some impressive numbers for the last three months of 2023. Think of it like this: They made a lot of money! One-eighty cents per share and a total of five billion dollars in revenue. That's a lot of dough. Ever wonder who's behind all those ads you see during sports events? Fox Corp. raked in a bunch of cash from the presidential campaign and MLB playoffs. They also saw a boost from college football and the NFL. Total ad revenue skyrocketed by 21% compared to the previous year. Big numbers like this are usually driven by the cable networks. Fox News played a huge role in this success. It led to a 32% increase in the Cable Network Programming division. The regular broadcast networks and local stations also saw a 19% boost in ad sales. But it's not just about the money. Fox Corp. is also making a lot of money now. Their CEO is all about live news and sports, and it's paying off. They're making more cash than they did last year. And what about the future? Well, there's some talk about a streaming service called Venu Sports. But it's been shut down before it even started. It was going to be a joint venture between Fox, Disney, and Warner Bros. Discovery, but it faced legal challenges from FuboTV. Disney even took over FuboTV in a settlement. So, what does all this mean? It's clear that live news and sports are a winning combo for Fox Corp. They're also expanding their digital initiatives. The future looks bright, but there are also some challenges ahead. But let's not forget about the TV industry as a whole. It's been changing a lot lately. Traditional TV is facing competition from streaming services. This is a big deal for companies like Fox Corp. Fox Corp. is doing well right now, but it's also facing some challenges. They're expanding their digital initiatives, but they're also dealing with legal issues and competition from streaming services.