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Brian Steinberg
Senior TV Editor
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Efren Landaos/Variety/PMC Fox Corporation said profit in its fiscal first quarter was bolstered by advertising revenue tied to its multi-week telecast of the FIFA World Cup as well as increases in political ads and in the number of subscribers to its TV networks — dynamics that many traditional media corporations are hard-pressed to duplicate in the streaming era.
The owner of Fox News Channel, the Fox broadcast network and the Tubi streaming service said revenue totaled $4.57 billion, an increase of 22% of $833 million, buoyed by a 9% increase in fees from carriers of its programming and a 47% hike in advertising tied largely to the World Cup telecasts.
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