21st Century Fox enjoys 4% rise in 12-month revenue to $28.5bn

By Prasun Bose

21st Century Fox has reported a rise in revenues to $28.5bn over the last 12 months, with its cable channel and television business driving the figures.

The New York City-based media conglomerate improved on its $27.3bn number from its previous cycle, a 4% year-on-year increase. 

In its television and cable segments, an 8% rise in affiliate revenues was recorded alongside a 5% jump in advertising revenues, with Fox News the most watched cable channel in the period.

Video services continued to spread globally with non-linear packages made available in Europe, Asia and Latin America, while Major League Baseball delivered the game with the highest number of viewers in the last 25 years. 

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Income attributable to shareholders hit the $3bn mark compared to $2.76bn a year ago.

“The investment we have made in our video brands, and in programming that truly differentiates, is proving to be the right strategy,” said Executive Chairmen Rupert and Lachlan Murdoch in a statement.

“It is driving the value of our brand portfolio across both established and emerging distribution platforms and reflects our deep commitment to creative excellence across all of our entertainment production businesses. 

“In addition, the outstanding performance of our live news and sports programming drove advertising growth for the year and continues to set our business apart. 

“What we achieved in 2017 sets us up well for this year and beyond.”

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