Fox One Streaming Service Sees Strong News Viewership and Low Churn
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Fox Corp.'s Fox One streaming service, launched last fall, is seeing over half of its viewership come from news content. The service reports low subscriber churn and is actively developing new features to engage audiences, particularly around topics and major events. This comes as traditional cable news subscriptions are projected to decline in the coming years.
Facts First
- Over half of Fox One's viewership comes from people watching news content.
- Fox One is seeing low subscriber churn, pleasing company executives.
- New features are being rolled out to spur news audiences, including topic-based playlists and an 'Ask Fox' content guide.
- The average Fox One subscriber is younger than the traditional cable customer, according to the company.
- Cable news subscriptions at major outlets are projected to drop 7% to 9% between the end of 2024 and 2026.
What Happened
Fox Corp. launched its Fox One streaming service in the fall of last year. During a recent investor call, CEO Lachlan Murdoch stated that over half of the viewership on Fox One comes from people watching news. He also noted the service is not seeing a tremendous amount of subscriber churn to date. Pete Distad, CEO of Fox’s streaming operations, stated that typical news customers return three and a half times a week and watch 10-plus hours of Fox News Channel.
Why this Matters to You
If you consume news, you may have more personalized and accessible options emerging. Fox One is testing features like 'playlists' for subjects such as the economy and an 'Ask Fox' tool to guide users to content based on specified interests, which could make it easier to find relevant coverage. The shift towards streaming for news suggests the format and features of news consumption are likely to continue evolving in ways that could better match your viewing habits.
What's Next
Fox One is likely to apply technology developed for its World Cup coverage to other major news events like the midterm elections. The service will continue rolling out new features aimed at helping users discover content based on topics and events they care about. Meanwhile, market research projects that subscribers at the nation's three biggest cable-news outlets are poised to drop between 7% and 9% between the end of 2024 and the end of 2026, which may accelerate the industry's focus on digital and streaming offerings.