• by Wayne Friedman , 3 hours ago

Fox Corp.'s core advertising revenues grew 12% in the fourth quarter for the 2025 calendar year, according to estimates from Madison and Wall.

This is an analysis of advertising revenues (excluding political advertising) in the active fourth-quarter period for 2025 and 2026, according to Brian Wieser, media analyst and founder, Madison and Wall.

Overall advertising -- including political advertising results -- inched up 1.4% to $2.45 billion -- with cable TV ad revenues up 6.7% to $491 million.

Fox Television business revenues -- including Fox Television Network, TV stations and Tubi (its free ad-supported streaming platform) -- were essentially unchanged at $831 million. Tubi ad revenue, by itself, rose 19%.

A broader picture of all TV platforms -- broadcast TV networks, local TV, and Tubi -- shows results were essentially flat versus 6% growth in the third quarter of 2025.

The company continued to tout its growing base of new cable advertisers -- specifically Fox News Channel, with around 200 over the past two quarters, compared to a gain of 350 in new advertisers the previous year.

“Fox’s results continue to highlight the widening gap between sports and live news – where pricing and demand remain strong – and entertainment, which likely remains under greater pressure,” writes Wieser.

Overall Fox Corp. revenues grew 2% to $5.2 billion -- with broadcast network/TV stations revenues at $2.9 billion and cable TV revenues, $2.28 billion. Overall distribution revenues added 4% to $2.0 billion.

Early Wednesday morning Fox Corp. stock price was up 0.4% to $63.45.