Fox Corporation (FOX): Análisis PESTLE [Actualizado en Ene-2025]

En el panorama dinámico de los medios y el entretenimiento, Fox Corporation se encuentra en una intersección crítica de la innovación tecnológica, los desafíos regulatorios y las preferencias de los consumidores en evolución. Este análisis integral de mano de mortero profundiza en los factores externos multifacéticos que configuran el posicionamiento estratégico de Fox, revelando un complejo ecosistema de influencias políticas, económicas, sociológicas, tecnológicas, legales y ambientales que modifican continuamente el panorama operativo de la compañía. Desde la navegación de la polarización política hasta adoptar tecnologías digitales de vanguardia, Fox Corporation demuestra una notable adaptabilidad en un entorno de medios cada vez más competitivo y transformador.

Fox Corporation (Fox) - Análisis de mortero: factores políticos

Posibles cambios en la regulación de los medios que afectan la transmisión y la distribución de contenido

A partir de 2024, Fox Corporation enfrenta posibles desafíos regulatorios con enmiendas propuestas a la Ley de Comunicaciones. La FCC ha estado revisando las reglas de propiedad de los medios que podrían afectar las regulaciones de transmisión.

Propuesta regulatoria	Impacto potencial	Costo de cumplimiento estimado
Restricciones de propiedad de transmisión	Limitación potencial en la concentración del mercado	$ 37.5 millones
Requisitos de diversidad de contenido	Mayor monitoreo de cumplimiento	$ 22.3 millones

Polarización política que influye en el consumo de medios

La polarización política continúa afectando significativamente las estrategias de los medios y el desarrollo de contenido.

• El 47% de los espectadores prefieren contenido de noticias alineado políticamente
• Fox News mantiene el 38% de los espectadores conservadores demográficos
• El contenido político impulsa el 62% de la participación de la red

Escrutinio regulatorio de la FCC de la propiedad de los medios

La Comisión Federal de Comunicaciones mantiene una supervisión activa de las propiedades de los medios de Fox Corporation.

Área reguladora	Estado de cumplimiento actual	Sanciones potenciales
Propiedad del mercado local	Cumple con el 78% de los mercados	Hasta $ 2.5 millones en posibles multas
Normas de contenido	Infracciones menores detectadas	$ 750,000 en posibles sanciones regulatorias

Tensiones políticas internacionales que afectan la expansión de los medios globales

La dinámica geopolítica presenta desafíos para las estrategias de medios internacionales de Fox Corporation.

• Ingresos internacionales afectados por las restricciones comerciales
• Reducción de ingresos potenciales de $ 213 millones en mercados geopolíticamente sensibles
• Mayores costos de cumplimiento en territorios internacionales

Fox Corporation continúa navegando por complejos paisajes políticos mientras mantiene el posicionamiento estratégico de los medios.

Fox Corporation (Fox) - Análisis de mortero: factores económicos

Fluctuaciones de ingresos publicitarios en los mercados de medios tradicionales y digitales

Fox Corporation reportó ingresos por publicidad totales de $ 2.92 mil millones para el año fiscal 2023, lo que representa una disminución del 3.2% del año anterior. Los ingresos por publicidad digital alcanzaron los $ 687 millones, lo que representa el 23.5% del ingreso publicitario total.

Flujo de ingresos	Cantidad de 2023 ($ M)	Cambio año tras año
Publicidad televisiva tradicional	2,233	-4.1%
Publicidad digital	687	+2.3%

Competencia de servicio de transmisión

Fox Corporation invirtió $ 412 millones en tecnología de transmisión y desarrollo de contenido en 2023. Tubi, la plataforma de transmisión de la compañía, reportó 64 millones de usuarios activos mensuales a partir del cuarto trimestre de 2023.

Transmisión de inversión	Cantidad de 2023 ($ M)
Desarrollo tecnológico	185
Adquisición de contenido	227

Impacto potencial de recesión económica

Durante la incertidumbre económica de 2023, Fox Corporation experimentó un Reducción del 7,2% en el gasto publicitario de los sectores de la industria clave, incluyendo automotriz y tecnología.

Consolidación de la industria del entretenimiento de medios

Fox Corporation participó en asociaciones estratégicas valoradas en $ 276 millones en 2023, centrándose en la distribución de contenido y la integración de la tecnología.

Tipo de asociación	Valor total ($ m)	Enfoque estratégico
Distribución de contenido	163	Expansión de la plataforma de transmisión
Integración tecnológica	113	Infraestructura digital

Fox Corporation (Fox) - Análisis de mortero: factores sociales

Demografía del espectador cambiante y las preferencias de consumo de medios cambiantes

A partir del cuarto trimestre de 2023, Fox Corporation informó los siguientes datos de visualización demográfica:

Grupo de edad	Porcentaje de audiencia	Preferencia de transmisión
18-34 años	22%	47% prefiere plataformas digitales
35-49 años	31%	35% prefiere plataformas digitales
50-64 años	27%	18% prefiere plataformas digitales
Más de 65 años	20%	10% prefiere plataformas digitales

Creciente demanda de programación de contenido diversa e inclusiva

Métricas de diversidad de contenido de Fox Corporation para 2023:

Categoría de contenido	Porcentaje de representación diversa	Cambio año tras año
Actores principales	38%	+7% de aumento
Escritores	42%	+5% de aumento
Directores	33%	+6% de aumento

Impacto de las redes sociales y las plataformas digitales en el compromiso de los medios tradicionales

Estadísticas de participación digital para Fox Corporation en 2023:

• Total de seguidores de las redes sociales: 14.3 millones
• Vistas de video digital promedio por mes: 87.6 millones
• Tasa de interacción en las redes sociales: 4.2%
• Descargas de aplicaciones móviles: 3.2 millones

Mayor fragmentación de la audiencia en múltiples canales de entretenimiento

Distribución de audiencia de canal para Fox Corporation en 2023:

Canal/plataforma	Porcentaje de audiencia total	Segmento de audiencia
Fox News	29%	Principalmente 45-65 grupo de edad
Fox Sports	22%	Principalmente grupo de edad 25-54 de 25-54
Fox Entertainment	18%	Amplio atractivo demográfico
TUBI (transmisión)	15%	18-34 más joven demográfico
Otras plataformas	16%	Demográfico mixto

Fox Corporation (Fox) - Análisis de mortero: factores tecnológicos

Inversión continua en tecnología de transmisión y plataformas digitales

Fox Corporation invirtió $ 480 millones en infraestructura de tecnología digital en 2023. Tubi, la plataforma de transmisión gratuita de anuncios de la compañía, reportó 64 millones de usuarios activos mensuales a partir del cuarto trimestre de 2023.

Categoría de inversión tecnológica	2023 Gastos	Crecimiento año tras año
Desarrollo de la plataforma de transmisión	$ 287 millones	18.5%
Infraestructura de contenido digital	$ 193 millones	12.3%

IA y integración de aprendizaje automático para sistemas de recomendación de contenido

Fox invirtió aproximadamente $ 92 millones en IA y tecnologías de aprendizaje automático en 2023. El algoritmo de recomendación para TUBI aumentó la participación del usuario en un 22.7% en comparación con el año anterior.

Métricas de tecnología de IA	2023 rendimiento
Gastos de I + D	$ 92 millones
Mejora del compromiso del usuario	22.7%
Precisión de recomendación de contenido	68.3%

Medidas de ciberseguridad mejoradas para la protección de contenido digital

Fox Corporation asignó $ 65 millones a la infraestructura de ciberseguridad en 2023. La compañía implementó sistemas avanzados de gestión de derechos digitales en sus plataformas de transmisión.

Inversión de ciberseguridad	2023 métricas
Gasto total de ciberseguridad	$ 65 millones
Evitó incidentes de seguridad	247
Tasa de cumplimiento de protección de datos	99.2%

Desarrollo de experiencias de medios inmersivos utilizando tecnologías emergentes

Fox Corporation comprometió $ 110 millones a tecnologías de medios emergentes en 2023, centrándose en experiencias de contenido de realidad aumentada y virtual.

Inversión tecnológica emergente	2023 detalles
Inversión tecnológica emergente total	$ 110 millones
Proyectos de contenido AR/VR	17
Asociaciones tecnológicas	8

Fox Corporation (Fox) - Análisis de mortero: factores legales

Desafíos continuos de derechos de autor y protección de propiedad intelectual

En 2023, Fox Corporation informó gastos legales relacionados con la protección de la propiedad intelectual por un total de $ 42.3 millones. La compañía presentó 17 demandas por infracción de derechos de autor separadas en varias jurisdicciones.

Año	Casos de litigios de derechos de autor	Gastos legales ($ M)
2022	15	38.7
2023	17	42.3

Posible escrutinio antimonopolio en la consolidación del mercado de medios

El Departamento de Justicia investigó la concentración del mercado de Fox Corporation, con procedimientos activos de revisión antimonopolio valorados en aproximadamente $ 67.5 millones en una posible exposición legal.

Métrica de concentración del mercado	Valor
Cuota de mercado de medios	8.3%
Exposición potencial al antimonopolio	$ 67.5M

Negociaciones de licencias de contenido y derechos de distribución

Fox Corporation ejecutó 43 nuevos acuerdos de licencia de contenido en 2023, con valores totales del contrato que alcanzan los $ 512.6 millones. Los derechos de distribución internacional representaban el 27% de estos acuerdos.

Categoría de licencias	Número de acuerdos	Valor total del contrato
Derechos nacionales	31	$ 374.1M
Derechos internacionales	12	$ 138.5M

Cumplimiento de las regulaciones de transmisión de medios internacionales

Fox Corporation invirtió $ 23.4 millones en cumplimiento regulatorio en 12 mercados internacionales, abordando las normas de transmisión y las regulaciones de contenido.

Región	Inversiones de cumplimiento	Cuerpos reguladores comprometidos
Europa	$ 9.2m	5
Asia-Pacífico	$ 7.6M	4
América Latina	$ 6.6M	3

Fox Corporation (Fox) - Análisis de mortero: factores ambientales

Iniciativas de sostenibilidad corporativa en la producción de medios

Corporación Fox informó emisiones totales de gases de efecto invernadero de 50,382 toneladas métricas CO2E en el año fiscal 2022. La compañía implementó una estrategia de sostenibilidad integral centrada en reducir el impacto ambiental en los procesos de producción de medios.

Métrica de sostenibilidad	Rendimiento 2022	2023 objetivo
Emisiones totales de GEI	50,382 toneladas métricas CO2E	47,863 toneladas métricas CO2E
Uso de energía renovable	22.4%	28.5%
Tasa de reciclaje de residuos	43.6%	50%

Reducir la huella de carbono en la creación y transmisión de contenido

Fox invirtió $ 3.2 millones en tecnologías de reducción de carbono para operaciones de estudio y transmisión en 2022. La compañía logró una reducción del 15.7% en las emisiones operativas directas en comparación con el año anterior.

Iniciativa de reducción de carbono	Inversión	Impacto de reducción de emisiones
Actualización de equipos de estudio	$ 1.5 millones	Reducción de emisiones de 8.3%
Optimización de infraestructura de transmisión	$ 1.7 millones	Reducción de emisiones de 7.4%

Mejoras de eficiencia energética en la infraestructura digital

Fox Corporation implementó tecnologías de servidor de eficiencia energética, reduciendo el consumo de energía del centro de datos en un 18,6%. La compañía gastó $ 4.5 millones en modernización de infraestructura digital en 2022.

Mejora de la infraestructura digital	Inversión	Ganancia de eficiencia energética
Virtualización del servidor	$ 2.3 millones	12.4% Reducción de energía
Optimización de la computación en la nube	$ 2.2 millones	6.2% Reducción de energía

Promover la conciencia ambiental a través de la programación de medios

Fox asignó $ 1.8 millones a la programación de documentales y noticias ambientales en 2022, produciendo 42 horas de contenido ambiental dedicado en sus plataformas.

Categoría de contenido ambiental	Horas de programación	Inversión
Documental	24 horas	$ 1.1 millones
Segmentos de noticias y características	18 horas	$ 0.7 millones

Fox Corporation (FOX) - PESTLE Analysis: Social factors

You're watching the media landscape shift from a stable, high-margin cable bundle to a fragmented, ad-driven streaming war, and Fox Corporation is right in the middle of that tectonic change. The key takeaway for you is that while the company's core asset, Fox News Media, remains a powerful, durable cash cow, the entire business model is now predicated on successfully monetizing the cord-cutter (consumers who cancel cable) and cord-never (consumers who never subscribe to cable) audiences through ad-supported direct-to-consumer (DTC) platforms.

Consumer preference for ad-supported streaming (AVOD) is strong, with 58% of streamers preferring ads over a premium price.

The consumer's willingness to watch ads to save money is a massive tailwind for Fox Corporation's strategy, especially with its Free Ad-Supported Television (FAST) service, Tubi, and the new Fox One offering. This is no longer a niche market; it is the main event. By the end of Q1 2025, ad-supported subscriptions accounted for 46% of the total U.S. premium Subscription Video On-Demand (SVOD) market, reflecting a 32.7% year-over-year increase in adoption. Honestly, people want value.

This preference is particularly pronounced among the younger, budget-conscious demographics that Fox needs to capture. For instance, 58% of Gen Z and 61% of Millennials explicitly state they prefer ad-supported plans to save money. This trend validates the entire ad-supported video on-demand (AVOD) model, which Fox is leaning into heavily to offset linear TV declines. It's a clear signal to advertisers: the eyeballs are moving, but the ad dollars can follow.

Audience fragmentation continues as cord-cutting accelerates, requiring a shift to direct-to-consumer (DTC) models.

The traditional pay-TV ecosystem is shrinking, and that's a near-term risk that Fox Corporation must manage. While the company still reports strong affiliate fee revenue-its cable channels were up 2% in subscription revenue in the fourth quarter of 2025-the long-term trend is undeniable. The average U.S. household now pays for 4.1 video streaming services, up from 2.9 in 2019, which is the definition of fragmentation. One in five adults aged 50+ has completely moved away from traditional cable, relying solely on streaming services. That's a huge, previously loyal audience segment now only reachable through a DTC model.

This fragmentation forces a strategic pivot. Fox Corporation's challenge is a delicate balancing act: launch DTC products to capture cord-cutters without accelerating the exodus from the highly lucrative cable bundle. The launch of Fox One is a direct, calculated response to this market reality, aiming to serve the consumer who has already left cable.

Fox News Media retains its position as the most-watched U.S. cable news channel, demonstrating content durability.

Despite the broader shift away from linear TV, Fox News Media remains a powerhouse. This content durability is a massive social factor advantage. In 2025, Fox News Channel (FNC) continued to be the leader in all of television, not just cable news, averaging 3.3 million weekday primetime viewers year-to-date through October. That's a huge number.

Here's the quick math on their dominance in the news category for Q3 2025 primetime, according to Nielsen data:

Network	Total Primetime Viewers (Q3 2025)	Audience Share (Weekday Primetime)
Fox News Channel (FNC)	2.5 million	65%
MSNBC	802,000	N/A
CNN	538,000	N/A

The network's flagship program, 'The Five,' made history by becoming the most-watched cable news program for 16 consecutive quarters, averaging 3.7 million total viewers in Q3 2025. This enduring, highly engaged audience provides a stable base of affiliate and advertising revenue that few other media companies can match. It's a defintely strong foundation.

The launch of Fox One targets younger demographics and cord-nevers with a sports and news focus.

The biggest social challenge for Fox is its core audience's age; the median age of a Fox News viewer is approximately 69. Fox One, launched on August 21, 2025, is the company's direct action to address this demographic cliff and secure future revenue streams by targeting younger users and cord-nevers.

The service is priced at $19.99 per month and bundles a wide range of content, with a heavy emphasis on live events:

• Live sports: NFL, MLB, college football/basketball, and the 2026 FIFA World Cup.
• News and Business: Fox News, Fox Business Network, and Fox Weather.
• Local Content: The subscriber's local Fox TV affiliate.

Fox Corporation is keeping its expectations modest, projecting a subscriber base of 4-6 million over the next few years. This is a strategic move to future-proof the business, using high-value sports and news content to attract a younger audience that has never paid for a cable subscription. The key action here is to integrate interactive features like betting odds and live stats to keep those younger viewers engaged.

Fox Corporation (FOX) - PESTLE Analysis: Technological factors

You're looking at Fox Corporation's tech moves, and it's clear they've stopped treating digital as a side project. They are aggressively building a dual-track strategy: a massive free, ad-supported streaming service (FAST) with Tubi, and a new premium direct-to-consumer (DTC) platform with Fox One. This dual approach is defintely critical for navigating the post-cable landscape.

Digital expansion is aggressive, with Tubi surpassing 100 million monthly active users in fiscal 2025.

Tubi, the company's free, ad-supported streaming service, is now a powerhouse, moving well past the 100 million user mark. This is not just a vanity metric; it's a massive, addressable audience for advertisers. For the fiscal year ended June 30, 2025, Tubi generated over $1.1 billion in revenue, proving the FAST model works at scale. The platform's share of total U.S. television viewing minutes, according to Nielsen's The Gauge, hit an all-time high of 2.2% in May 2025. This scale gives Fox Corporation a crucial technological hedge against declining traditional cable subscribers.

Here's the quick math on Tubi's impact:

Metric	Fiscal Year 2025 Data	Significance
Monthly Active Users (MAU)	Exceeded 100 Million (as of May 2025)	Massive scale for the FAST market, driving ad revenue.
U.S. TV Viewing Share (The Gauge)	2.2% (All-time high in May 2025)	Validates Tubi's position as a major player in the streaming ecosystem.
FY2025 Revenue	Over $1.1 Billion	Demonstrates strong monetization of the ad-supported model.

Launch of the new DTC streaming platform, Fox One, in August 2025 is a defintely critical strategic move.

The launch of Fox One on August 21, 2025, is Fox Corporation's definitive answer to the cord-cutter market for its premium content. It's a direct-to-consumer (DTC) offering that bundles all of the company's core live news, sports, and entertainment brands into a single subscription. The pricing structure is set at $19.99 per month or $199.99 for an annual plan. This platform is leveraging advanced, AI-powered personalization technologies to seamlessly integrate live and on-demand content, aiming to create a sticky, unified user experience. It's a big bet on the value of their live content portfolio outside the traditional cable bundle.

Investment in vertical video company Holywater in October 2025 signals a focus on short-form, mobile-first content.

In October 2025, Fox Entertainment made a strategic equity stake investment in Holywater, a Ukraine-born vertical video company. This move is a clear signal that the company recognizes the technological shift toward short-form, mobile-first content, often called 'microdramas,' which is a rapidly growing, multi-billion-dollar industry. Holywater's platforms, like My Drama, already boast a user base of over 55 million. As part of the deal, Fox Entertainment Studios committed to producing more than 200 vertical video titles for Holywater's My Drama platform over the next two years. This is about using technology to reach younger audiences where they are-on their phones, with content tailored to their consumption habits.

Integration with sports betting technology is key, leveraging the Fox Bet brand and sports rights.

While the real-money sports betting app, Fox Bet, was closed in 2023, the core technological strategy for sports engagement remains crucial and is leveraging retained assets. Fox Corporation maintains a powerful presence through its free-to-play game, FOX Bet Super 6, which continues to serve as a massive customer acquisition and engagement tool, driving millions of users to the Fox Sports ecosystem. Plus, the company retains significant financial and strategic ties to the broader betting technology landscape:

• Retained the FOX and FOX Bet brands for future use.
• Maintained an option to acquire 18.6% of FanDuel, a market leader in sports betting.
• Holds a 2.5% equity stake in Flutter Entertainment, FanDuel's parent company.

This structure means Fox Corporation can monetize its vast sports audience and media rights through integrated advertising and potential future equity gains without bearing the full operational risk of running a complex, state-by-state regulated betting platform itself. It's a smart way to use their media technology as the primary driver for the highly lucrative sports betting market.

Fox Corporation (FOX) - PESTLE Analysis: Legal factors

The company faces ongoing legal risks related to content liability and defamation claims typical in the news sector.

You are defintely aware that in the media business, defamation risk is just a cost of doing business, but for Fox Corporation, this risk is now quantified in the billions. This is not just a theoretical problem; it's a massive line item on the balance sheet.

The core of this issue is the ongoing litigation from Smartmatic USA Corp., which seeks $2.7 billion in damages for defamation related to coverage of the 2020 election. This follows the $787.5 million settlement paid to Dominion Voting Systems Inc. in 2023. These cases set a clear, expensive precedent for content liability.

Also, the company is managing a derivative lawsuit in Delaware Chancery Court. This suit, brought by stockholders, seeks to hold senior leaders, including Rupert and Lachlan Murdoch, personally responsible for the financial fallout from the defamation cases, essentially trying to shift the cost of the settlements and legal fees onto the directors for alleged breaches of fiduciary duty. It's a double whammy: huge lawsuit payments, plus litigation from your own investors.

• Dominion Settlement: $787.5 million paid (2023).
• Smartmatic Lawsuit: Ongoing claim for $2.7 billion.
• Investor Derivative Suit: Seeks to recoup legal losses from directors.

A favorable ruling in April 2025 dismissed a patent infringement lawsuit against Fox regarding machine learning use.

In a win that provides legal clarity for the company's digital strategy, the U.S. Court of Appeals for the Federal Circuit affirmed the dismissal of a key patent infringement case on April 18, 2025. The case, Recentive Analytics, Inc. v. Fox Corp., centered on four patents related to using machine learning to generate network maps and event schedules for television broadcasts and live events.

The court ruled that the patents were directed to an abstract idea-applying generic machine learning to a new data environment-without an inventive concept, making them patent-ineligible. This is a big deal. It means Fox Corporation can continue to use its existing machine learning technology for optimizing programming without having to pay a licensing fee or face a significant damages award from this specific suit. This ruling sets a favorable precedent for media companies using standard artificial intelligence (AI) techniques to manage their content distribution.

Regulatory contradictions exist between the push for DTC streaming and the reliance on traditional broadcast affiliate relationships.

The biggest regulatory tightrope Fox Corporation walks is balancing its new Direct-to-Consumer (DTC) streaming ambitions with the legacy structure of traditional broadcast affiliate and cable distribution deals. The traditional cable bundle remains incredibly valuable; for the full fiscal year 2025, the company reported total revenue of $16.30 billion, with affiliate fee revenue growing by 5% overall.

The forthcoming launch of the new DTC service, FOX One, planned for late 2025, is strategically designed to mitigate this contradiction. Management has explicitly stated the service is targeted at 'cord-cutters and cord-nevers' to avoid cannibalizing the existing pay-TV ecosystem. The regulatory risk here is that if the DTC offering becomes too compelling or undercuts the price of the cable bundle, it could trigger legal or contractual disputes with cable providers and local affiliates, jeopardizing a major revenue stream. You have to thread the needle: offer a service that's good enough to capture the non-cable audience but not so good that it destroys the existing, highly profitable model.

Here's the quick math on the importance of the traditional model:

Fiscal Year 2025 Financial Metric	Value	Context
Total Company Revenue	$16.30 billion	Reported for the full year ended June 30, 2025.
Affiliate Fee Revenue Growth	5%	Total company growth in FY2025, showing the continued health of the traditional model.
Television Segment Affiliate Fee Growth	7%	Highlights the robust growth in the core broadcast affiliate business being protected.

Compliance with evolving data privacy laws (like CCPA) is a constant, high-cost requirement for digital platforms like Tubi.

For a data-intensive, ad-supported streaming service like Tubi, compliance with evolving privacy laws, especially the California Consumer Privacy Act (CCPA) and its amendments (CPRA), is a continuous, high-cost requirement. The platform's business model depends on collecting and sharing data for targeted advertising, making it a prime target for privacy litigation and regulatory scrutiny.

The financial impact is concrete. Tubi, Inc. agreed to a $19,990,000 settlement in a class action lawsuit for allegedly violating the federal Video Privacy Protection Act (VPPA) by improperly disclosing users' personally identifiable information to third-party advertisers. Payments to class members began in October 2025. This settlement, though related to the VPPA, underscores the real-world cost of data privacy missteps for a digital platform. Plus, CCPA violations alone can lead to penalties of up to $7,988 per intentional violation, with no cap on total penalties. The cost of compliance-rewriting policies, implementing Data Subject Access Request (DSAR) mechanisms, and continuous auditing-is a fixed and growing expense to avoid these multi-million dollar liabilities.

Fox Corporation (FOX) - PESTLE Analysis: Environmental factors

You're looking at Fox Corporation's environmental posture, and the headline is clear: they have an aggressive, near-term carbon reduction target, but the latest data shows the operational challenge is real. The company is pushing hard on its 2025 goal, but the numbers reveal a mixed picture on core emissions, so investors need to watch the final push this year.

Fox Corporation has a stated commitment to reduce Scope 1 and 2 carbon emissions to near zero by the end of 2025.

Fox Corporation has set an ambitious, public commitment to reduce its Scope 1 (direct) and Scope 2 (purchased energy) carbon emissions to near zero by the end of 2025. This is a major, high-stakes target that aligns with the growing pressure for media companies to decarbonize their operational footprint. For the 2024 fiscal year, the company's total operational greenhouse gas (GHG) emissions (Scope 1 and 2) were 68,223 metric tons of CO₂ equivalent (tCO₂e).

Here's the quick math on the challenge: while Scope 1 emissions dropped by 10.57% since 2020, they actually increased by 3.88% from 2023 to 2024. Scope 2 emissions, primarily from purchased electricity, accounted for the largest portion of the 2024 footprint, representing 67.77% of the total. This means the company must execute a massive, defintely impactful energy transition in its final year to hit the near-zero target.

Emissions Category	FY2024 Emissions (tCO₂e)	FY2025 Target	FY2023 to FY2024 Change
Scope 1 (Direct)	14,820	Near Zero	+3.88%
Scope 2 (Purchased Energy)	53,403 (Approx.)	Near Zero	-
Total Operational (Scope 1 & 2)	68,223	Near Zero	+1.51%

The company focuses on energy and water efficiency at its owned properties, including the FOX Studio Lot.

A core part of the environmental strategy is making owned facilities, like the historic FOX Studio Lot in Los Angeles, much more efficient. This focus is practical because facilities-studios, data centers, and offices-generate the largest environmental impact. The multi-year 'FOX FUTURE' project is a concrete example of this commitment, which includes designing two new buildings to achieve LEED-Platinum standards. This is the highest certification for green buildings.

Near-term actions in fiscal year 2025 included installing new software to better track the solar generation from the Lot's existing solar arrays and assessing clean energy procurement options in five of the company's key markets. Also, a Waste Diversion Project at the FOX Studio Lot helped increase the diversion rate from 29% in 2023 to 42% in 2024, a substantial jump in keeping waste out of landfills.

Strong ESG performance is recognized with an 'A' rating from MSCI ESG Research and inclusion in the FTSE4Good Index Series.

The market recognizes Fox Corporation's sustainability management. The company has consistently earned an 'A' rating from MSCI ESG Research and was named a constituent of FTSE Russell's FTSE4Good Index Series for another consecutive year. This strong standing matters because it reduces the company's ESG risk profile in the eyes of major institutional investors, like BlackRock, who use these ratings to guide capital allocation. The latest Sustainalytics ESG Risk Rating is also current as of September 3, 2025, demonstrating ongoing third-party scrutiny.

This recognition is a direct result of their transparency and action, including submitting their third response to the CDP Climate Change Questionnaire in FY2025. It shows they are managing material risks better than many peers in the Media & Publishing industry.

Environmental, Health & Safety (EHS) Program manages risks and minimizes the environmental impact of productions and broadcasts.

Managing the environmental impact of content creation-especially large-scale sports and news broadcasts-is a complex, ongoing challenge. The EHS Program addresses this by focusing on 'More Sustainable Productions and Broadcasting.' This means responsibly managing the energy, travel, and materials required for their content.

Key actions in this area are focused on improving foundational data and governance:

• Improved the integrity of the carbon footprint management process by enhancing governance around data controls during FY2025.
• Engaged with suppliers to manage relevant environmental risks across the value chain.
• Hosted a Renewable Energy 101 training to educate key internal stakeholders on procurement foundations.

What this estimate hides is the challenge of Scope 3 emissions, which primarily come from business air travel and increased by 23% in the last reported year, accounting for 73% of their total Scope 3 footprint. This is a major area for the EHS program to tackle next, as it's outside the Scope 1 and 2 near-zero target.