As Fox prepares to dive into streaming with plans to launch a new service by the end of the year, Chief Financial Officer Steve Tomsic emphasized that the offering is not a shift in the company’s strategy and that it’s not trying to “chase the SVOD dream” that Netflix, Disney, Paramount+, Max and Peacock are pursuing.
“The reality is, as we sit here today, there’s a better part of 50 million households in the U.S. now, outside the bundle and the streaming product that we launched is not designed to try and chase down the hyper-scale general entertainment players. It is really about offering another alternative to those consumers that are outside the bundle today,” Tomsic told Barclays’ Communications and Content Symposium on Tuesday.