Fox Corporation
’s
FOXA
News Digital network recently announced that it surpassed all news brands including CNN in both multiplatform minutes and multiplatform views in August, totaling nearly 1.8 billion multiplatform views and nearly 3.7 billion multiplatform minutes, according to Comscore.
Fox’s digital network surpassed CNN.com in multiplatform minutes for the sixth consecutive month and outperformed all other news brands including The New York Times, Washington Post, USA Today, NBCNews.com, and ABCNews.com in the news competitive set.
The network’s comprehensive political news coverage surrounding the fall of Afghanistan to the Taliban propelled traffic and engagement on the platform. Total minutes spent across the platform grew 25%, with page views increasing 15% sequentially.
Moreover, FOX News Digital reported over 94 million multiplatform unique visitors. Additionally, the FOX News Mobile App drove close to 7.3 million unique visitors in August, beating CNN in the category for the fourth straight month.
Portfolio strength across entertainment and news content is expected to have aided viewership.
Markedly, FOXBusiness.com delivered 116 million multiplatform views (up 5% sequentially), and 191 million multiplatform minutes.
Growing Efforts to Boost Digital Presence
Fox News has been strengthening its presence on social media platforms including
Facebook
FB
. FOX News retained its #1 position as the most engaged news brand on social media including Facebook,
Twitter
TWTR
, and Instagram, driving over 55.9 million total social interactions.
The company reported the highest Facebook and Instagram interactions for August among news competitors, totaling 25.4 million on Facebook and 28.7 million on Instagram, according to Socialbakers, as cited by Fox.
Further, on other social platforms like
Alphabet
’s
GOOGL
YouTube, FOX News topped among other news outlets with over 343.3 million views in August, up 46% year over year, delivering the network’s highest month ever in YouTube video views.
Fox News is expected to launch a new, advertising-supported, streaming weather service titled FOX Weather by the third quarter of 2021. The platform will make its debut with the FOX Weather App in the third quarter of 2021, accompanied by an integrated website and streaming service featuring local, regional, and national updates as well as live programming.
Recovering Advertising Demand to Boost the Top Line
Recovering ad demand and spending boosted by the resumption of major sports events globally are expected to aid this Zacks Rank #3 (Hold) company’s advertising revenues in the near term. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Notably, Fox’s fourth-quarter fiscal 2021 advertising revenues (34% of revenues) increased 37.9% to $982 million.
On Jun 3, Fox Corporation announced that FOX Sports will serve as the official broadcast partner for the United States Football League (USFL), which will officially return in the spring of 2022.
Continued digital monetization at FOX News Media and the impact of additional live events and studio shows at FOX Sports is expected to reflect in advertising revenue growth in the near term.
Moreover, a recovering base market at FOX Television Stations, continued growth at Tubi, and strong pricing at FOX Entertainment are major positives.
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