Fox CEO Reveals His Expectations for Upcoming Streaming Platform
By Movieguide® Contributor
Fox CEO Lachlan Murdoch shared an update on the network’s upcoming streaming platform, which the company plans to launch this fall, right before football season.
Murdoch has modest expectations for the platform, with projected numbers to be in the “mid-single digit millions.”
He made comments at the Morgan Stanley media conference and, according to Deadline, explained “that the goal is not to cannibalize linear television and Fox will not advertise it on linear television but is meant purely to capture those who cut the cord or have never subscribed to cable.”
Pete Distad will spearhead the platform as CEO. He was previously the CEO of Venu Sports, the now-scrapped joint venture between Fox, Disney and Warner Bros. Discovery.
READ MORE: HOW DISNEY, FOX AND WBD WILL ENTER SPORTS STREAMING WITHOUT VENU
“We brought Pete in and Pete’s focus at Venu and now at our venture is new subscribers that are outside of the bundle,” Murdoch said.
“I’m excited to bring FOX’s leading sports, news, and entertainment content to audiences outside the traditional pay TV bundle for the first time via an all-new streaming platform,” Distad said in a press release. “Working closely with our content, distribution, and platform partners, we’re going to build and grow a differentiated viewing experience for consumers to access their favorite FOX programming.”
“Pete is a proven leader with deep experience in consumer products, and we’re thrilled to have him join the team to lead this new platform,” said Paul Cheesbrough, Chief Executive Officer of Tubi Media Group, who Distad will report to. “His track record of innovation, execution, and building world-class streaming products speaks for itself, and we’re confident that under his leadership, we will deliver a best-in-class service that showcases FOX’s premium content and brands.”
READ MORE: FOX TO LAUNCH STREAMING SERVICE SOMETIME THIS YEAR
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