Fox Expects Sports Streaming Venture With Disney And WBD To Hit 5M Subscribers In 5 Years, Lachlan Murdoch Says

deadline.com:

The forthcoming sports streaming venture backed by Disney, Fox Corp. and Warner Bros. Discovery will reach 5 million subscribers in its first five years, according to a projection shared Monday by Fox CEO Lachlan Murdoch.

Speaking at a conference hosted by Morgan Stanley, Murdoch cited the forecast in responding to questions about whether the new venture would threaten the company’s existing pay-TV business.

Fox has “built our plans around” the 5 million subscriber outlook, Murdoch said. “So some of the talk around this being in the teens or 20 million subs, we don’t think that’s the case.” The JV “is a very good business for us” given the tens of millions of “cord-nevers” who want a cheaper way to access sports, the exec said.

The new sports subscribers will be “incremental to our base,” he added. The sports venture was announced last month, but details are scant apart from its planned launch date this fall.