Recently, Lachlan Murdoch, CEO of Fox Corporation, provided an update on the upcoming sports streaming venture with Disney/ESPN and Warner Bros. Discovery. He revealed that over 150 engineers are currently working on building an innovative product specifically for sports fans outside of the traditional cable bundle. The venture has already begun internal beta tests in preparation for a fall launch.
Pete Distad, a former Apple and Hulu executive, was appointed to head the new joint venture. Murdoch praised Distad as a “world-class CEO” who has made great strides so far. While Fox remains committed to the traditional cable bundle and its significant revenue stream, they recognize the importance of reaching viewers through new platforms.
Murdoch was asked about the potential for the new app to be bundled with Fox Corp.’s Tubi platform. However, he stated that Tubi is a different product and suggested that sports could be bundled with other SVOD services in the future. He described the upcoming streaming app as groundbreaking and solely focused on catering to cord-cutters and digital-first users.
Intriguingly, Murdoch teased Wall Street 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 product that stands out in the industry and provides a superior experience for sports fans looking for an alternative to traditional cable bundles.
