Company: FOX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024466
Chunk: 85

Company: Fox Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 85
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3% in affiliate fee revenue was primarily due to the impact of higher average rates per subscriber and higher fees received from television stations that are affiliated with the FOX Network of 

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approximately $180 million, partially offset by the approximately $110 million impact of a lower average number of subscribers across all networks. The increase of $801 million or 65% in advertising revenue was primarily due to revenues from the broadcast of Super Bowl LIX in February 2025 of approximately $700 million after agency commissions. The remaining increase of approximately $100 million was primarily due to continued digital growth led by the Tubi AVOD service and higher news ratings and pricing. The increase of $56 million or 20% in other revenues was primarily due to higher sports sublicensing revenue.

Operating expenses increased $915 million or 45% for the three months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, primarily due to the impact of higher sports programming rights amortization and production costs driven by the broadcast of Super Bowl LIX in February 2025, higher college football costs, including licensing costs for rights that are sublicensed, and higher digital content and marketing costs.

Selling, general and administrative expenses increased $41 million or 8% for the three months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, primarily due to higher employee costs.

For the nine months ended March 31, 2025 and 2024

The Company’s revenues increased $2.1 billion or 20% for the nine months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, due to higher affiliate fee, advertising and other revenues. The increase of $283 million or 5% in affiliate fee revenue was primarily due to the impact of higher average rates per subscriber and higher fees received from television stations that are affiliated with the FOX Network of approximately $615 million, partially offset by the approximately $330 million impact of a lower average number of subscribers across all networks. The increase of $1.4 billion or 30% in advertising revenue was primarily due to the approximately $850 million impact related to sports content led by revenues from the broadcast of Super Bowl LIX in February 2025 and higher National Football League (“NFL”) pricing. The remaining increase of approximately $500 million was primarily due to the impact of political advertising revenue due to the 2024 presidential and congressional elections predominantly at the Company’s owned and