FOX · Earnings call · 2026Q2T · Full report
Digital Investment Trends
Fox Corp · 2026-08-06 · Importance 54 · Surprise 74 · In source text
Digital investment declined from just under $300 million in fiscal 2025 to less than $200 million in fiscal 2026 as Tubi and FOX One performed ahead of expectations.Management expects bottom-line improvement in the digital portfolio to continue into fiscal 2027.Tubi revenue grew 35% year over year in the fourth quarter, while total viewing time increased 17%.Tubi ended fiscal 2026 with 110 million monthly active users, and approximately 70% of viewers were cordless, either cord-nevers or cord cutters.
Key facts
- In fiscal '25 FOX's digital investments were just under $300 million and in fiscal '26 digital investments were less than $200 million, with further improvement expected in fiscal '27.
- Tubi total viewing time grew 17% year-over-year in the quarter.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | — | In fiscal '25 FOX's digital investments were just under $300 million and in fiscal '26 digital investments were less than $200 million,… |
| operating_income | positive | probable | — | In fiscal '25 FOX's digital investments were just under $300 million and in fiscal '26 digital investments were less than $200 million,… |