Tubi helps Fox post ad revenue gains in latest quarter
Tubi helps Fox post ad revenue gains in latest quarter
Fox’s most recent quarterly earnings report was released on Thursday, and was unfortunately light on streaming details.
Although it’s only October, Fox is already thinking ahead to next year in one sense. The company reported results for its fiscal first quarter of 2026 on Thursday — the three-month period ending on Sept. 30. On a financial foot, it was an expectation-beating quarter for Fox, though its report was sadly lacking in details on the initial performance of the new Fox One streaming service.
Key Details:
- Tubi helping: Ad revenues jumped 6% during the quarter, in large part thanks to Tubi..
- No news is good news?: Fox declined to share any updates about its new Fox One Streaming service.
- Outside data: Estimates from Antenna indicate Fox One has around 1 million subscribers.
Fox’s earnings report had plenty of good news for shareholders. Although comparisons to earnings data from the year-ago quarter reveal declines thanks to a fall in political advertising, Fox still reported a total revenue of $3.7 billion, as well as adjusted earnings per share of $1.51.
The television segment of Fox accounted for $2.05 billion in revenue, and ad revenues were up 6% to $59 million. A large part of that increase was attributable to Tubi, Fox’s free ad-supported streaming platform, which announced earlier this year that it had surpassed 100 million monthly active users.
Fox CEO Lachlan Murdoch said:
Coming off a record Fiscal 2025, our strong operating momentum has carried through the first quarter of Fiscal 2026. We are delivering for audiences with continued engagement growth across the portfolio which underpins the robust advertising demand we are seeing across sports, news, entertainment and Tubi. The quality of our assets and their consistent capacity to deliver financially gives me great confidence in the positive outlook for FOX. This morning’s announcement to leverage the strength of our balance sheet with a $1.5 billion accelerated share repurchase transaction clearly underscores this confidence along with our commitment to creating value for our shareholders.
There was a frustrating lack of detail about the new Fox One streaming service that launched on Aug. 21. Fox One offers the content of Fox, FS1, Fox News, and other channels owned by the company, with live and on-demand streaming options available for $20 per month.
Data recently released by Antenna estimated that Fox One had acquired around 1.1 million subscribers as of Sept. 30, and the firm’s analytics are usually pretty solid, so that number is likely as accurate as we will get. However, without confirmation from Fox, we don’t have any way of knowing for sure.
Fox One
Launched August 21, 2025, Fox One is a direct-to-consumer streaming service from Fox Corporation. Billed as a “major digital initiative,” Fox One brings together the full range of Fox’s leading news, sports, and entertainment brands, offering live and on-demand access in one unified platform.