Lachlan Murdoch, the CEO of Fox, recently provided an update on the upcoming sports streaming venture with Disney/ESPN and Warner Bros. Discovery. According to Murdoch, over 150 engineers are working tirelessly to create an innovative product for sports fans outside of traditional cable bundles. The venture has already begun internal beta tests in preparation for a fall launch.
Former Apple and Hulu executive Pete Distad was appointed to lead the new joint venture, with Murdoch praising him as a “world-class CEO” who has hit the ground running. While Fox remains committed to the traditional cable bundle and recognizes its significance as a major revenue stream, they also understand the need to reach viewers through new platforms.
When asked about the potential for the new app to be bundled with Fox Corp.’s Tubi platform, Murdoch suggested that Tubi is a different product and that sports could potentially be bundled with other SVOD services in the future. He described the upcoming streaming app as innovative and solely focused on cord-cutters and digital-first users.
Murdoch gave a sneak peek at the Wall Street crowd by mentioning the beta version of the streaming app, hinting at its unique features and design tailored for modern viewers. He emphasized the amount of work being done behind the scenes by engineers to ingest content from multiple partners and create a seamless user experience. The goal is to deliver a groundbreaking product that stands out in the industry.
In summary, Fox CEO Lachlan Murdoch announced that over 150 engineers are dedicated to building an innovative sports streaming app that will cater specifically to cord-cutters and digital-first users outside of traditional cable bundles. The venture is led by former Apple and Hulu executive Pete Distad, who was praised as a “world-class CEO.” While Fox remains committed to traditional cable bundles, they also recognize the need to reach viewers through new platforms like Tubi or other SVOD services in the future.