We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Fox (FOXA) Records 16.8 Million Viewers for World Cup Final
Read MoreHide Full Article
Fox Corporation (FOXA - Free Report) recently announced that the FIFA World Cup 2022 final match held in Qatar between Argentina and France had recorded an audience of roughly 16.8 million on the Fox network and its streaming platform, according to Nielsen Media Research.
The figure shows an increase of 25.5% from the previous world cup final held in 2018 when France defeated Croatia. This surge could mostly be due to the increase in total viewership that spiked by 47% in 2022.
Fox captured a strong market share of 64% of the total viewership for the 2022 final match in America, which has been recorded at around 26 million, leaving behind Comcast’s (CMCSA - Free Report) Telemundo, which captured 34% with 9 million viewers. This suggests Fox’s strong reach and dominance on cable TV platforms.
Fox has got the rights to the FIFA World Cup 2026 as well. However, it is expected to face threats from the growing demand for live sports streaming such as Fubo TV (FUBO - Free Report) , which streamed the FIFA games this year as well.
Per NewsOnAir, 12% of the total FIFA viewers streamed the match on OTT platforms. Though the numbers are low as of now, it is expected to grow. Per NewZoo, gaming’s live-streaming audience will hit 1.4 billion by 2025 from the current 921 million.
To survive this, Fox will have to enhance its streaming services as cable networks and televisions currently account for 98% of its revenues.
Fox Sports to Aid Growth at Fox With Exciting Tournaments
The excitement of the FIFA matches has fueled growth at Fox Sports. Per FoxSports Press Pass November 2022, FOX Sports delivered its most-viewed month ever on its digital platforms with 1.4 billion views across the FOX Sports App and FOX Sports.com, up 59% year over year.
Besides the FIFA World Cup, there have been other tournaments that have gained traction as well. In first-quarter fiscal 2023, NFL on FOX had reported nearly 23 million viewers, up 9% year over year while the 2022 College Football season also had a remarkable start with 10.6 million viewers for Alabama, TX, which was the season's first big Noon Saturday game.
Diversifying into other sports, Fox recently launched a saturday night college basketball schedule in primetime named Fox Primetime Hoops that debuted on Dec 10 with 20 match-ups between No. 17 Arizona and No. 13 Indiana. Basketball, being one of the most preferred games in America, is expected to draw an audience to Fox Sports and bolster viewership for the company.
To further aid its top-line growth, Fox has entered a multi-platform deal to exclusively deliver the 2023 World Baseball Classic to fans across FS1, FS2, FOX Deportes, Tubi, and the FOX Sports app in the United States that begins Mar 7. The game includes top players from the American team like Nolan Arenado, Pete Alonso, Trea Turner whom fans adore and look forward to.
Zacks Rank & Stock to Consider
Fox currently has a Zacks Rank #4 (Sell).
A better-ranked stock in the Zacks Consumer Discretionary Sector is Liberty Media (FWONK - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy).
Liberty Media’s share price fell 6.8% year to date against the consumer discretionary sector, which declined 36.4%. The Zacks Consensus Estimate for earnings is pegged at 10 cents, which has risen 42% over the past 30 days.
Image: Shutterstock
Fox (FOXA) Records 16.8 Million Viewers for World Cup Final
Fox Corporation (FOXA - Free Report) recently announced that the FIFA World Cup 2022 final match held in Qatar between Argentina and France had recorded an audience of roughly 16.8 million on the Fox network and its streaming platform, according to Nielsen Media Research.
The figure shows an increase of 25.5% from the previous world cup final held in 2018 when France defeated Croatia. This surge could mostly be due to the increase in total viewership that spiked by 47% in 2022.
Fox captured a strong market share of 64% of the total viewership for the 2022 final match in America, which has been recorded at around 26 million, leaving behind Comcast’s (CMCSA - Free Report) Telemundo, which captured 34% with 9 million viewers. This suggests Fox’s strong reach and dominance on cable TV platforms.
Fox has got the rights to the FIFA World Cup 2026 as well. However, it is expected to face threats from the growing demand for live sports streaming such as Fubo TV (FUBO - Free Report) , which streamed the FIFA games this year as well.
Per NewsOnAir, 12% of the total FIFA viewers streamed the match on OTT platforms. Though the numbers are low as of now, it is expected to grow. Per NewZoo, gaming’s live-streaming audience will hit 1.4 billion by 2025 from the current 921 million.
To survive this, Fox will have to enhance its streaming services as cable networks and televisions currently account for 98% of its revenues.
Fox Sports to Aid Growth at Fox With Exciting Tournaments
The excitement of the FIFA matches has fueled growth at Fox Sports. Per FoxSports Press Pass November 2022, FOX Sports delivered its most-viewed month ever on its digital platforms with 1.4 billion views across the FOX Sports App and FOX Sports.com, up 59% year over year.
Besides the FIFA World Cup, there have been other tournaments that have gained traction as well. In first-quarter fiscal 2023, NFL on FOX had reported nearly 23 million viewers, up 9% year over year while the 2022 College Football season also had a remarkable start with 10.6 million viewers for Alabama, TX, which was the season's first big Noon Saturday game.
Fox Corporation Price and Consensus
Fox Corporation price-consensus-chart | Fox Corporation Quote
Diversifying into other sports, Fox recently launched a saturday night college basketball schedule in primetime named Fox Primetime Hoops that debuted on Dec 10 with 20 match-ups between No. 17 Arizona and No. 13 Indiana. Basketball, being one of the most preferred games in America, is expected to draw an audience to Fox Sports and bolster viewership for the company.
To further aid its top-line growth, Fox has entered a multi-platform deal to exclusively deliver the 2023 World Baseball Classic to fans across FS1, FS2, FOX Deportes, Tubi, and the FOX Sports app in the United States that begins Mar 7. The game includes top players from the American team like Nolan Arenado, Pete Alonso, Trea Turner whom fans adore and look forward to.
Zacks Rank & Stock to Consider
Fox currently has a Zacks Rank #4 (Sell).
A better-ranked stock in the Zacks Consumer Discretionary Sector is Liberty Media (FWONK - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy).
Liberty Media’s share price fell 6.8% year to date against the consumer discretionary sector, which declined 36.4%. The Zacks Consensus Estimate for earnings is pegged at 10 cents, which has risen 42% over the past 30 days.
You can see the complete list of today’s Zacks #1 Rank stocks here.