Fox Corporation (NASDAQ:FOX) Q4 2024 Results Conference Call August 6, 2024 8:00 AM ET

Company Participants

Gabrielle Brown - Executive VP & Chief Investor Relations Officer
Lachlan Murdoch - Executive Chair & Chief Executive Officer
Steven Tomsic - Chief Financial Officer

Conference Call Participants

Ben Swinburne - Morgan Stanley
John Hodulik - UBS
Robert Fishman - MoffettNathanson
Jessica Reif Ehrlich Cohen - Bank of America
Michael Ng - Goldman Sachs.

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the Fox Corporation Fourth Quarter Fiscal Year 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

I'll now turn the conference over to Chief Investor Relations Officer, Ms. Gabrielle Brown. Please go ahead, Ms. Brown.

Gabrielle Brown

Thank you, operator. Good morning, and welcome to our fiscal 2024 fourth quarter earnings call. Joining me on the call today are Lachlan Murdoch, Executive Chair and Chief Executive Officer; John Nallen, Chief Operating Officer; and Steve Tomsic, our Chief Financial Officer.

First, Lachlan and Steve will give some prepared remarks on the most recent quarter, and then we'll take questions from the investment community. Please note that this call may include forward-looking statements regarding Fox Corporation's financial performance and operating results. These statements are based on management's current expectations, and actual results could differ from what is stated as a result of certain factors identified on today's call and in the company's SEC filings.

Additionally, this call will include certain non-GAAP financial measures, including adjusted EBITDA or EBITDA, as we refer to it on this call. Reconciliations of non-GAAP financial measures are included in our earnings release and our SEC filings, which are available in the Investor Relations section of our website.

And with that, I'm pleased to turn the call over to Lachlan.

Lachlan Murdoch

Thank you, Gabby, and thank you all for joining us this morning to celebrate our fiscal fourth quarter results. Fiscal 2024 was another successful year for FOX, in which we delivered nearly $14 billion of revenue and $2.88 billion of EBITDA. The year that just ended and the momentum from the start of our new fiscal year, underscore the soundness of our strategy, the consistency of our delivery and the strength of our financial position that has never been more clear.

Looking back, there were clear achievements across our businesses in fiscal '24, including delivering strong total company affiliate revenue growth each quarter from our ongoing renewals, cementing Tubi's position as the most watched free TV and movie streaming service in the United States, and generating reinvigorated ratings and share growth at Fox News. The power of our brands and our ability to deliver engaged audiences at scale across our platforms remains remarkably strong. Total time spent viewing all Fox brands increased in fiscal '24 despite the absence of the Super Bowl and FIFA Men's World Cup.