Fox is planning a dedicated streaming service offering consumers access to its news and sports content.
In an earnings call, Fox CEO Lachlan Murdoch said the product was not aimed at capturing existing cable subscribers.
“We don’t want and we have no intention of churning a traditional distribution customer into our D2C customer. And so, our subscriber expectations will be modest, and we’re going to price the service accordingly. And it’s also important to note with those modest expectations, we do not expect any exclusive rights costs or additional incremental rights costs,” said Murdoch.
“And it’s also important to note, with those modest expectations, we do not expect any additional incremental rights cost,” he added. “This service will be a package of our existing content and existing brands, targeting the consumers that are not currently in the bundle. So, the incremental cost will be relatively low, certainly relative to what our peers are spending in this space.”
Fox had previously attempted to combine its sports content into the Venu Sports service alongside ESPN owner Disney and TNT Sports owner Warner Bros Discovery. The project collapsed last month.
Fox already operates the ad supported Tubi and Fox Weather.
