Fox's (FOXA) Tubi Collaborates With Vice to Make Documentaries
Fox FOXA recently announced an exclusive content deal of its ad supported video-on-demand service Tubi with Vice. This deal includes eight original documentaries based on the trending topics of today.
THE CULT OF ELON, the first documentary, follows the story of Elon Musk and Tesla’s success. It will be aired on Apr 24, 2023. VIGILANTE, the second original documentary, follows the world of online vigilantism based on a recent manhunt for an arsonist in Los Angeles. This documentary will be aired on May 6, 2023.
The remaining six documentaries cover topics like ticket scalping, chatbot technology and mass shooting in the United States. The remaining documentaries will be aired throughout this year.
The partnership between Tubi and Vice highlights Fox's focus on delivering original content to its viewers. Tubi’s original titles range from pop culture’s biggest moments to true crime documentaries. Tubi has plans to grow this vertical in the years ahead.
VICE Content Distribution has worldwide rights to the set of documentaries outside of the United States.
Fox Corporation Price and Consensus
Fox Corporation price-consensus-chart | Fox Corporation Quote
Tubi Competes With Others, Ramps Up Original Content Production
This Zacks Rank #3 (Hold) company is looking to follow giants and continue investing in original content. Upcoming Tubi and FOXA original content projects include Booksmart, Dead Hot, Woo, Rebound and many more. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Fox have decreased 13.6% in the past year compared with the Zacks Consumer Discretionary sector’s decline of 18.2% in the same period.
The Zacks Consensus Estimate for FOXA’s third-quarter 2023 is pegged at a profit of 46 cents per share, indicating a decline of 4.16% from the previous quarter. For the third quarter of 2023, the Zacks Consensus Estimate for revenues is pegged at $4.06 billion, indicating year-over-year growth of 17.65%. This huge boost in revenues is expected due to a strong slate of upcoming projects.
Fox is comparatively new in the original content market. The company is now directly in competition with giants like Netflix NFLX, Disney DIS and Warner Bros. Discovery WBD.
According to a statista report, Netflix has 254 original TV series in production followed by Disney with 193, Warner Media with 179 and Fox with only 18.
Netflix, being a leader in this field, had entered the original content market early. Netflix’s original content is well received by the viewers and is one of the main reasons of its popularity. Disney is not far behind. It has kept users engaged with its original series, which mainly include sci-fi and animated series. Warner Media is a close third with a strong portfolio of original content, which includes game shows, late night shows and animated shows.
Upcoming original projects of Fox are Monarch, Alert and Homeland, which would face stiff competition from Netflix’s Beef, Transatlantic, Paradise, from Disney’s Iwaju, Prom Pact, Crater and Warner Media’s Dune: Part Two, Wonka and The Color Purple.
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