FOX · 10-K · 2026A · Full report
Advertising Demand Trends
Fox Corp (FOX, FOXA) · 2026-08-06 · Importance 49 · Surprise 32
Advertising revenue increased 7% to $7.339 billion in fiscal 2026, driven by sports programming, including the FIFA Men’s World Cup and additional NFL and MLB postseason games, as well as higher pricing. Continued digital growth led by the Tubi AVOD service and higher news pricing also contributed. These increases were partly offset by the absence of the February 2025 Super Bowl LIX broadcast, lower political advertising following the absence of the 2024 presidential and congressional elections, and lower news ratings. Television advertising revenue increased 6% to $5.652 billion, while Cable Network Programming advertising revenue increased 10% to $1.687 billion despite lower ratings.
Key facts
- Advertising revenue increased $474 million or 7% for fiscal 2026, primarily due to sports programming led by broadcasts of the FIFA Men’s World Cup and additional NFL and MLB postseason games and higher pricing, partially offset by the absence of Super Bowl LIX in February 2025. source
- Television advertising revenue increased $318 million or 6% in fiscal 2026 to $5,652 million, driven by FIFA Men’s World Cup broadcasts, additional NFL and MLB postseason games, higher pricing, and Tubi digital growth, partially offset by absence of Super Bowl LIX. source
- The decrease in net cash provided by operating activities in fiscal 2026 was primarily due to lower advertising receipts from absence of Super Bowl LIX and the 2024 presidential and congressional elections, partially offset by the FIFA Men’s World Cup and higher sports programming payments. source
- Cable Network Programming advertising revenue increased $156 million or 10% in fiscal 2026 to $1,687 million. source
- The Company listed declines in advertising expenditures due to factors such as the economic prospects of advertisers or the economy, evolving technologies and distribution platforms, evolving digital advertising market, major sports events and election cycles and the evolution of audience measurement methodologies as factors that could cause actual results to differ materially. source