Fox Corporation
’s
FOXA
News Digital network recently announced that it surpassed all news brands including CNN in multiplatform minutes in April, totaling 2.9 billion total multiplatform minutes, according to Comscore.
Additionally, Fox reported over 77 million total multiplatform unique visitors and around 1.5 billion total multiplatform views for Fox News Digital, outperforming peers such as The New York Times, Washington Post, USA Today, NBCNews.com, and ABCNews.com.
FOXBusiness.com recorded the highest month of multiplatform views in April, with 185 million, up 91% year over year, surpassing CNN Business for the first time in the category. Additionally, the business network delivered over 305 million multiplatform minutes, up 75% year over year and over 23 million multiplatform unique visitors, up 15% year over year.
Improving Advertising Demand to Aid Top-Line Growth
Fox’s growth strategy revolves around live programming from its three brands — FOX News, Sports and the FOX Network to drive its advertising revenues. In third-quarter fiscal 2022, advertising (37.8% of revenues) increased 9.1% to $1.3 billion.
To keep up the momentum in revenues, Fox has been riding on a number of distribution agreements and partnerships.
This month, FOX Weather, FOX News Media’s free ad-supported streaming television weather service, expanded its reach to FOX News Audio, and launched a new daily podcast as well as hourly weather updates on
FOX News Headlines 24/7
.
FOX News Media also expanded the distribution of its streaming services across DIRECTV platforms. FOX News Media’s subscription streaming service FOX Nation is now available on DIRECTV as a premium add-on with plans to expand availability to DIRECTV STREAM this summer.
Besides, Fox Weather also expanded its distribution network with the addition of Vidgo and DIRECTV STREAM.
FOX News Audio is expanding its affiliate partnership and will migrate the network’s linear talk radio streaming content to AmperWave, Audacy’s cloud-based distribution and monetization platform for live and on-demand audio streams. The expanded agreement will also make Audacy, the exclusive third-party ad sales representation of FOX News Audio’s streaming inventory on the audio network’s digital properties.
Fox News has been strengthening its presence on social media platforms including
Facebook
FB
. Fox News Digital has been among the most engaged news brands on social media including Facebook and Instagram with 17 million interactions on Facebook and nearly 17 million Instagram interactions.
Further, on other digital platforms like
Alphabet
’s
GOOGL
Youtube, FOX News topped among other news outlets with over 308 million, according to Shareablee. FOX Business’ videos on Alphabet’s YouTube remained the most-viewed in the business news competitive set for the month, driving 73 million views in April, up 194% over the prior year.
In March, Fox — carrying a Zacks Rank#3 (Hold) — announced that it has expanded its relationship with
Amazon
AMZN
to bring its leading news, weather and sports content to the Amazon News app available on Fire TV. You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Per the Fox and Amazon deal, three FOX FAST (free ad-supported TV) channels – FOX Soul, FOX Weather and LiveNOW from FOX – will be available on the Amazon news app on Fire TV.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report