FOX · Earnings call · 2026Q2T · Full report
Political Advertising Outlook
Fox Corp · 2026-08-06 · Importance 77 · Surprise 82 · In source text
Management cited independent tracking estimates of more than $11 billion in political advertising spending for the upcoming midterm election. 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 upcoming midterm cycle to exceed both prior benchmarks and become a record cycle for FOX, particularly benefiting local stations and Tubi.
Key facts
- In the 2024 presidential election FOX saw over $400 million of political revenue and in the last midterm cycle FOX did over $260 million; FOX expects the upcoming midterm to beat that and be a record cycle.
- The midterm elections are expected to boost advertising revenues, particularly at local stations and Tubi within the Television segment.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | probable | — | In the 2024 presidential election FOX saw over $400 million of political revenue and in the last midterm cycle FOX did over $260 million;… |
| revenue | positive | probable | — | The midterm elections are expected to boost advertising revenues, particularly at local stations and Tubi within the Television segment. |