Fox Corp. reported its fiscal fourth quarter earnings on Wednesday, showing a healthy net income of $666 million for the January-March period, thanks to higher carriage fees and lower costs .Because Fox is largely a broadcast network and a collection of cable channels, it offers a clear picture into the relative state of each and what that means for the broader entertainment ecosystem.
The company raised affiliate fees, which allowed it to keep that revenue steady, but as cord-cutting accelerates that may not be sustainable in the long term.Fox’s free, ad-supported streaming service Tubi continues to grow. It now boasts approximately 80 million monthly active users. Fox continues not to share any details on its revenue or profitability, which likely indicates that Tubi is not yet profitable.
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