Company: FOX
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001628280-25-003592
Chunk: 72

Company: Fox Corp
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 and other revenues. The increase of $308 million or 19% in advertising revenue was primarily due to higher political advertising revenue due to the 2024 presidential and congressional elections predominantly at the Company’s owned and operated television stations, continued digital growth led by the Tubi AVOD service and sports programming led by higher NFL pricing and higher MLB postseason ratings partially offset by the broadcast of fewer games. The increase of $68 million or 9% in affiliate fee revenue was primarily due to higher average rates per subscriber partially offset by a lower average number of subscribers at the Company’s owned and operated television stations and higher fees received from television stations that are affiliated with the FOX Network. The increase of $43 million or 33% in other revenues was primarily due to higher content revenue.

Television Segment EBITDA increased $343 million for the three months ended December 31, 2024, as compared to the corresponding period of fiscal 2024, due to the revenue increases noted above, partially offset by higher expenses. Operating expenses increased $59 million or 2% primarily due to higher digital and entertainment production costs, partially offset by the absence of WWE programming rights amortization in the 

25

current quarter. Selling, general and administrative expenses increased $17 million or 7% primarily due to higher employee costs.

For the six months ended December 31, 2024 and 2023

Revenues at the Television segment increased $592 million or 14% for the six months ended December 31, 2024, as compared to the corresponding period of fiscal 2024, due to higher advertising, affiliate fee and other revenues. The increase of $406 million or 16% in advertising revenue was primarily due to higher political advertising revenue due to the 2024 presidential and congressional elections predominantly at the Company’s owned and operated television stations, continued digital growth led by the Tubi AVOD service and sports programming led by higher NFL pricing, higher MLB postseason ratings and the broadcasts of the Union of European Football Associations (“UEFA”) European Championship and CONMEBOL Copa América, partially offset by the absence of the FIFA Women’s World Cup in the current year. The increase of $139 million or 9% in affiliate fee revenue was primarily due to higher average rates per subscriber partially offset by a lower average number of subscribers at the Company’s owned and operated television stations and higher fees received from television stations that are affiliated with the FOX Network. The increase of $47 million or 18% in other revenues was primarily due to