• by Wayne Friedman , February 9, 2022

A strong sports programming lineup on its broadcast TV network --- as well as  on its Tubi digital video service -- helped push up Fox Corp. advertising revenue 6% in its recent quarterly period to $2.4 billion.
With regard to the growth of advertising revenues, Lachlan Murdoch, chief executive officer of Fox Corp. touted in an earnings call that the company’s long-term plan is working --- its emphasis on live sports (including the NFL and Major League Baseball) as well as live news (Fox News Channel, Fox Business) is resulting in growth.

Murdoch says all this has yielded positive results especially against “softness in entertainment, in scripted entertainment ratings.” Also, he noted digital advertising through its ad-supported digital video platform, Tubi, is benefitting.

Fox Corp. total revenue improved 9% to $4.44 billion in its fiscal second quarter 2022 period ending December 31, 2021. Affiliate revenue growth rose 11% to $1.7 billion, coming from its cable networks and broadcast network.

But the company posted a sharp loss of $73 million versus a $230 in net income from the same period a year ago -- due to an investment in the parent company of Fox Bet, the sports wagering operation.

Investors shrugged this off. Early Wednesday morning, Fox Corp stock was up 4% to $38.84.