Tubi helps Fox post strong growth in digital, overall

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Fox Corp.’s free streamer Tubi helped the company register a significant revenue boost over last year’s first-quarter results.

The company saw revenue rise $54 million in the first quarter of 2022. That’s up from $915 million to $969 million quarter over quarter.

Total viewing time was up as well, which the company credited to an ever-expanding library of content.

Fox Corp.’s other major streaming effort, Fox Nation, saw increases, though Fox did not break out the numbers specifically, instead lumping it in with an “other” category, which saw an 18% growth rate. At least part of that growth, however, includes bumps from sports broadcasts returning after being unsteady during the pandemic.

Combined, the “other” vertical made $140 million in the first quarter of 2022, compared to $120 million for the same period in 2021.

All told, Fox Corp. delivered big with $3.46 billion in revenue, a 7% jump from the same quarter in 2021, which beat Wall Street’s expectations. Cable revenue was up 3%, affiliate fee revenue grew 5% and television income was up 8%.

The company said it expects to continue to investing in its digital platforms, including Tubi, Fox Nation and Fox Weather.