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Fox Corp. Reports Strong Second Quarter Financials Despite Economic Challenges

Fox’s advertising revenue dipped down 4%, as the total gains for its streaming service, Tubi were washed out by the lack of political spending at Fox’s local stations.

Maddy Troy

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Fox Corp.

Fox Corp. has released its latest financial results for the second quarter, reporting revenue stayed consistent compared to the second quarter of 2022. 

Fox Corp. earnings came in at 74 cents a share in the quarter ending on June 30, surpassing the analysts’ expectation of 72 cents and increasing from 55 cents in the same period of 2022.

The company’s affiliate fee revenue grew by 3% compared to a year ago and increased by 9% in the Television division. Fox’s advertising revenue dipped down 4%, as the total gains for its streaming service, Tubi were washed out by the lack of political spending at Fox’s local stations in comparison with the midterm cycle of 2022. Fox also noted increased supply in the direct response marketplace at Fox News Media.

In comparison to many other media brands, Fox Corp.’s wide range of assets make the company more resilient than others to the current economic landscape. Fox’s expansive reach makes it a strong bet in the video advertising business, leading to the consistence of their financials year-over-year. 

In April, the controversial lawsuit brought by Dominion Voting Systems was settled with Fox paying out $787.5 million. This number took many Wall Street analysts by surprise, though the sum is tax deductible, according to Deadline.

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Media Business

Benztown to Host Programming Webinar Featuring Dr. Ed Cohen and Mike McVay

“In today’s radio environment where every quarter-hour matters, there are quarter-hours hidden everywhere.”

Barrett News Media

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A photo promoting a Benztown webinar featuring Mike McVay and Dr. Ed Cohen

Benztown is announcing plans for a webinar featuring Dr. Ed Cohen and Mike McVay centered around utilizing data to increase listening credits in the Nielsen radio ratings.

Unlocking Radio Secrets: Every Minute Matters; Improving Your Ratings will be held on Thursday, June 27th at 1 PM ET. In the webinar, Benztown will showcase its SpotGPS tool for radio programmers.

The software “is a powerful tool … that transforms airplay data into powerful and actionable commercial content analysis in a compelling, visual, and intuitive form that is a game-changer for radio stations,” according to the company, who designed it specifically for PPM markets.

“In today’s radio environment where every quarter-hour matters, there are quarter-hours hidden everywhere. Some radio stations know where they are and how to take advantage of them. Knowing where they are illuminates an otherwise dark room,” the company said of the webinar. “Some radio stations accept the darkness and blame ratings methodology. The smart ones live in the light.”

The upcoming webinar is free to those wishing to attend. To register, click here.

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Media Business

Remote News Service Adds 3 New Markets

“I’m so pleased that all of our team’s hard work is paying off.”

Barrett News Media

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Remote News Service has added three new markets to its growing list of affiliates.

The news network will now provide services to WXJB-FM near Tampa, WIRY-FM in Plattsburgh, New York, and to Oklahoma City stations owned by Champling Broadcasting — which includes Freedom 96.9.

“I’m so pleased that all of our team’s hard work is paying off. Happy clients, make us super happy, and really proud,” Remote News Service owner Lesley Lotto said.

“The addition of Remote News Service has been a big boost to our local news,” stated WXJB GM Barbara Manuel. “It has dramatically raised the profile of our talk station. We are already out selling it!” 

“I would highly recommend Remote News Service if you are considering an outside source to cover your local news. Our anchor has been very responsive and professional,” added WIRY co-owner Joey Trombly. “We transitioned to this service and it was seamless. We are getting positive feedback in our marketplace since we made this change”.

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Media Business

Libsyn Completes Integration With YouTube API Features for Podcast Publishers

“By integrating YouTube directly into our platform, we’re empowering creators to expand their reach and engage with a broader audience while simplifying their workflow.”

Barrett News Media

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A photo of the YouTube and Libsyn logos

Libsyn has announced it has successfully integrated with YouTube and its new Podcast API features, making publishing to YouTube Music an easier process for its customers.

“Our mission at Libsyn is to be the premier destination for anyone at any stage of their podcasting journey to distribute their podcast, grow their audience, and monetize their content,” said CEO John Gibbons. “We’ve evolved from a singular hosting provider to a suite of services for creators and advertisers through our investments in platform innovations and expanded partnerships.

“By integrating YouTube directly into our platform, we’re empowering creators to expand their reach and engage with a broader audience while simplifying their workflow.”

Podcast publishers with Libsyn can now directly upload their episodes to YouTube Music. The new integration can also convert audio files to MP4 video files.

Streamlining the process to upload to YouTube Music as two studies in 2023 showed YouTube is the most used podcast platform in the United States.

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