Fox Corp. is launching its new streaming platform, Fox One, on August 21st. The platform focuses on live sports and news content, aiming to attract cord-cutters and those who have never had cable TV. Fox One offers access to local Fox TV affiliates, Fox Sports channels, Fox News Media channels, and a library of on-demand content.
Rupert Murdoch's Fox Corp. has traditionally taken a cautious approach to the rapidly growing streaming market. That approach is about to change. Fox, the owner of the most-watched cable news channel, Fox News, and holder of broadcasting rights for major sporting events like the NFL and MLB post-season, has remained steadfast in its commitment to the declining pay TV business.
However, with a significant portion of households, estimated at 65 million, no longer relying on cable or satellite services, the company is finally making its channels accessible to non-pay TV customers. This milestone will be achieved through the launch of Fox One, a new streaming platform scheduled for August 21st. \Pete Distad, Chief Executive of direct-to-consumer for Fox Corp., highlighted the growing audience who are bypassing traditional cable subscriptions. During a press briefing at the company's New York headquarters, he stated, 'There is a growing audience outside of cable. We need to give those cord-cutters and cord-nevers access to our content.' For a monthly fee of $19.99, Fox One subscribers will gain access to a range of content. This includes their local Fox TV affiliate, which broadcasts a package of NFL games, along with two Fox Sports cable channels. Annual subscription plans are available for $199. The platform will also feature channels from Fox News Media, encompassing Fox News, Fox Weather, and Fox Business. Subscribers will be able to enjoy on-demand replays of Fox programming, access current seasons of entertainment shows, and utilize a DVR with unlimited storage capacity. \Fox One's major selling point, however, remains its extensive selection of live events, including the highly anticipated FIFA World Cup next year. The service is being promoted with the tagline 'We Live For Live.' Sports serves as the driving force behind the platform. Fox Corp. and Walt Disney Co. have already collaborated to offer a combined package deal for Fox One and the upcoming ESPN direct-to-consumer service, also launching next week. This bundle, priced at $39.99 per month, represents a savings of $10 compared to subscribing to both services individually, with ESPN's standalone price set at $29.99. Distad indicated that the company is exploring further opportunities to bundle Fox One with other streaming services.
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