Company: FOX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024466
Chunk: 71

Company: Fox Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 as compared to the corresponding period of fiscal 2024, due to higher affiliate fee, advertising and other revenues. Affiliate fee revenue increased $108 million or 3% as higher average rates per subscriber were partially offset by a decrease in the average number of subscribers. The increase of $219 million or 23% in advertising revenue was primarily due to higher news ratings, pricing and digital advertising revenue and the impact related to sports content led by higher pricing and Major League Baseball postseason ratings. The increase of $554 million in other revenues was primarily due to higher sports sublicensing revenue.

Cable Network Programming Segment EBITDA increased $293 million or 15% for the nine months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, due to the revenue increases noted above, partially offset by higher expenses. Operating expenses increased $567 million or 27% primarily due to higher sports programming rights amortization and production costs driven by higher college football costs, including licensing costs for rights that are sublicensed, partially offset by the absence of the Fédération International de Football Association Women’s World Cup in the current year. Also contributing to this increase was higher newsgathering costs primarily due to the 2024 presidential election. Selling, general and administrative expenses increased $18 million or 4% primarily due to higher employee costs.

Television (59% and 58% of the Company’s revenues for the first nine months of fiscal 2025 and 2024, respectively)

 For the three months ended March 31,For the nine months ended March 31, 20252024Change% Change20252024Change% Change(in millions, except %)Better/(Worse)Better/(Worse)RevenuesAdvertising$1,664 $939 $725 77 %$4,634 $3,503 $1,131 32 %Affiliate fee870 834 36 4 %2,500 2,325 175 8 %Other170 165 5 3 %484 432 52 12 %Total revenues2,704 1,938 766 40 %7,618 6,260 1,358 22 %Operating expenses(2,359)(1,540)(819)(53)%(6,191)(5,178)(1,013)(20)%Selling, general and administrative(285)(253)(32)(13)%(790)(724