Cable television player Fox Corporation is launching its own streaming platform, FOX One.
The product was announced during the US company’s release of March quarter results by executive chairman and CEO Lachlan Murdoch.
Fox reported a 27% increase in revenue to $US4.37 billion for the three months.
Advertising revenue increased 65%, mainly due to the impact of Super Bowl. Other revenue was up 20%, primarily due to higher sports sublicensing.
Pricing for the new streaming platform hasn’t yet been revealed but Fox wants to keep its cable subscribers.
FOX One, aimed at cord-cutters and cord-nevers, will have live streaming and on-demand access to the full portfolio of FOX brands including FOX News, FOX Business, FOX Weather, FOX Sports, FS1, FS2, BTN, FOX Deportes, FOX Local Stations and the FOX network.
“We know that FOX has the most loyal and engaged audiences in the industry, and FOX One is designed to reach outside of the pay-TV bundle and deliver all the best FOX branded content directly to viewers wherever they are,” said Pete Distad, CEO, FOX One.
“We have built this platform from the ground up to allow consumers to enjoy and engage with our programming in new and exciting ways, leveraging cutting edge technology to enhance the user experience across the platform.”
FOX One is on track to launch in the fall ahead of the NFL and College Football seasons.
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