Free, advertising-supported platforms are 'definitely a better business than SVOD,' he adds.
As Netflix and Disney announced plans to expand their streaming offerings to include different pay tiers — with some plans available free to consumers and featuring advertising — Murdoch doubled down on the company’s upfronts tagline of “Only Fox.” Creating the different tiers is “a confusing and frustrating proposition” for consumers and advertisers, he said.
“Particularly going into a potentially recessionary period or certainly high inflation period, free is a tremendous proposition,” Murdoch said. On the scripted entertainment side, Fox reported a $30 million write-down in its most recent earnings report, which Murdoch said was related to COVID-19 delays in production and subsequently needing to shift the broadcast schedule. The industry is still working under protocols developed at the beginning of the pandemic, which Murdoch said he hopes can evolve to meet the current state of COVID-19.
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