Fox Sees Big Super Bowl Bump Last Quarter With 65% Boost in Ad Revenue

Fox Corporation saw a major boost from the Super Bowl during its third quarter of 2025. The major sporting event led to a 65% boost in advertising revenue, which topped out at $2 billion. The company also saw increases when it came to  affiliate fees, Tubi and sports sublicensing revenues.

Specifically, affiliate fee revenues increased 3% during the quarter, a bump that was driven by 4% growth in the television segment as well as 3% growth cable network programming. Specifically in the Television segment, which measures Fox’s broadcasting offerings versus its cable output, advertising revenues increased $725 million, marking a 77% increase. This was largely due to the impact of Super Bowl LIX as well as continued digital growth from Tubi. Other revenues also increased 20% due to higher sports sublicensing revenues.

As for Fox’s cable division, that segment’s revenue saw a 11% lift, coming in at $1.64 billion. Affiliate fee revenues increased by 3% to hit $31 million for the quarter. This boost was due to contractual price increases, which offset overall subscriber declines. Advertising revenue for cable increased 26% to hit $76 million, owing to higher news ratings, pricing and digital advertising revenues.

Here are the key results:

Net Income: $354 million, a 50% decline compared to the third quarter of 2024. Net income attributable to Fox shareholders was $346 million, a 48% year-over-year decline.

Earnings Per Share: $1.10 adjusted, a roughly 1% year-over-year increase. It’s also an increase compared to the 93 cents per share expected by analysts surveyed by Zacks Investment Research.

Revenue: $4.37 billion, up 27% year-over-year.

Adjusted EBITDA: $856 million, a 4% year-over-year decrease.

More to come …

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