Fox News Media Projects $500M in Non-Cable Revenue for 2025

Fox News Media is forecasting $500 million in revenue for its 2025 fiscal year from non-cable TV businesses, including streaming, podcasts, books, and digital channels, according to Executive Vice President of Ad Sales Trey Gargano in a rare interview with Axios. 

This milestone highlights Fox’s strategic push to diversify its revenue streams, making it less vulnerable to cord-cutting and the decline of traditional cable viewership.

Why It Matters: Unlike competitors struggling with streaming-era viewership losses, Fox News Media has built a robust portfolio of digital and lifestyle products, insulating its brand from linear TV’s challenges. By targeting younger audiences and expanding beyond cable, Fox is positioning itself for long-term resilience in a shifting media landscape.

Revenue Growth: The $500 million projection covers all non-linear businesses, which have seen double-digit growth annually since 2020. Gargano told Axios that digital platforms attract audiences 30%–50% younger than linear TV viewers, broadening Fox’s demographic reach.

Suzanne Scott

Diversification Strategy: Since 2018, under CEO Suzanne Scott, Fox News Media has prioritized digital expansion:

• Fox Nation: Launched in 2018, this subscription streaming service focuses on lifestyle and entertainment content, boasting 2–2.5 million subscribers, per CEO Lachlan Murdoch. On Tuesday, Fox Nation announced a first-of-its-kind streaming bundle with SiriusXM, priced at $11.99/month, signaling its appeal to other subscription media brands.
• Fox News International: Introduced in 2020, this live streaming service delivers Fox News and Fox Business to global audiences.
• Fox Weather: Launched in 2021, this ad-supported streaming platform has become a key driver of digital ad revenue.
• Fox News Books: Debuted in 2020, the imprint has sold over 3 million copies across 14 titles, primarily authored by Fox talent like Carley Shimkus (Cooking with Friends, 2023).
• Podcasts: Dozens of ad-supported podcasts hosted by stars like Sean Hannity and Laura Ingraham have expanded Fox’s audio footprint.
• Ad Sales Evolution: The growth of cross-platform products has enabled a holistic ad sales strategy, attracting over 200 new advertisers since the 2024 election. Gargano noted to Axios that conversations with advertisers now focus on integrated campaigns across Fox’s ecosystem, moving beyond traditional TV spots. Social media, despite monetization challenges, is a growing opportunity, with Fox exploring authentic sponsor integrations.
• Digital Ad Opportunities: Premium video on Fox’s website and Fox Weather’s ad-supported platform have fueled connected TV ad sales, appealing to marketers extending campaigns beyond cable. The Fox Nation Patriot Awards, while ad-free, offers sponsorship integrations, creating unique marketing avenues.

Source: This story is based on reporting by Axios, with insights from Trey Gargano’s interview on Fox News Media’s financial projections and diversification strategy. For more details, visit www.axios.com.