RESOLVING THE LEDGER
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The 2026 FIFA World Cup helped Fox Corp. score a blowout quarter in its latest earnings report (its fiscal Q4), with the company reporting revenue of $4.2 billion, up 28 percent from a year ago, and adjusted EBITDA of $1.2 billion, up 27 percent from a year ago.
The World Cup was most reflected in the company's advertising results, with ad revenue surging to $1.9 billion, up from $1.1 billion a year ago. In the television segment specifically (which includes Fox and Tubi, but not Fox News), ad revenue surged by 108 percent, or $755 million to a total of $1.5 billion. Related Stories Business FuboTV Shrinks Third Quarter Loss on Sharply Higher Revenues After World Cup TV Amazon Picks Up 'Baywatch' Reboot Internationally
The success of the event will likely spill over into its fiscal Q1 report.
"At a time when audiences are increasingly fragmented, the World Cup demonstrated the unique power of Fox to deliver live premium sports that bring people together at scale, I am proud of what the team achieved through the broadcast of the entire World Cup across the entirety of Fox," said Fox CEO Lachlan Murdoch on the company's earnings call. "As we have shown time and again, we excel at mobilizing the whole company to deliver outstanding experiences for viewers, advertisers, and distributors. What is not explicit on screen or in the financial results is the intense amount of skillful work, preparation, promotion, production, marketing, and ad sales that goes on behind the scenes."
Fox also used the call to provide a significant update to its NFL coverage: The league had been seeking early renegotiations to its media rights deals, but Murdoch said that after talks with the league, Fox has decided to wait until the league's opt-out ahead of 2030.
As for Fox One, Murdoch said that the World Cup drove incremental subscriber growth, and that the company will continue to be opportunistic to grow that sub base.
"We will continue to bundle Fox One where it makes sense for consumers," he said. "Consumers are either self-bundling, obviously, as they as they choose their their streaming services, but where it makes sense, we will continue to to bundle to make it more efficient for consumers or more attractive for consumers where there's a natural fit for Fox One with another another provider."
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