FOX · Earnings call · 2026Q2T · Full report

Political Advertising Demand

Fox Corp · 2026-08-06 · Importance 77 · Surprise 82

Management expects the upcoming midterm election cycle to set a record for FOX political advertising. Independent tracking firms estimate more than $11 billion of total political advertising spending for the midterms. FOX generated more than $400 million of political revenue during the 2024 presidential election and more than $260 million during the prior midterm cycle. Management expects the current midterm cycle to exceed both prior benchmarks, particularly benefiting local stations and Tubi.

Key facts

• Independent tracking firms are estimating over $11 billion of political ad spending in the upcoming midterm election.