The latest release of numbers from ews Corp showed the company’s streaming revenue increased $ 254 million, or 10%, for the fiscal year, resulting in its most profitable financial result in eight years.
For that In fiscal 2020/21, News Corp reported revenue of 13 billion.
The revenue growth is partly due to the continued rise of News Corp and Foxtel, owned by Telstra, which increased their paid subscriber numbers by 40% to 3.891 million subscribers .
As part of that number, 2,006 million subscribers were attributed to Kayo, Binge, and Foxtel Now, while the remaining 1,885 million were subscribers to personal or commercial Foxtel broadcasts.
News Corp CEO Robert Thomson said , The continued rise of Foxtel allowed News Corp to make some important decisions about the future of the company.
« We have the most important sports rights far into the future, we have an absolutely contemporary, customer-friendly streaming platform network and these systems are another important means of monetizing existing rights at no additional cost.
“We have a first-class broadcast experience and are now the village square for video in Australia , and we certainly have price elasticity in a market where more and more people in Australia understand that you are paying a premium for premium content.
« This is an auspicious circumstance and its coincidence combined with the stage leadership of [Foxtel CEO Patrick Delany] and [News Corp Head of Broadcasting, Siobhan McKenna] changed Foxtel’s fortune and certainly gave us choices, « he said.
Regarding subscriber growth on the Foxtel platforms, Thomson said, » We have at Foxtel too saw record growth in subscribers, with our paid streaming subscribers hitting over 2 million at the end of June, which is an Ans 155% increase over the previous year. «
» This sterling performance has clearly given us a lot of freedom of choice as we look to Foxtel’s future, which is certainly bright with revenues up 33% in the fourth quarter, « he said.
‘s absence is prior to the inaugural season, the Brisbane Premier League (BPL) announced a broadcast partnership with Kayo as
Network has 10 announced its 2020 financial results, stating that it wants to be the « Home of Football »
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