Fox News Dominates Ratings, Attracts Advertisers Post-Election: Lachlan Murdoch Highlights Network’s Success
Lachlan Murdoch, Executive Chair and CEO of FOX Corporation, underscored the remarkable performance of Fox News Channel during a recent appearance at the Morgan Stanley Technology, Media & Telecom Conference. He emphasized the network’s consistent ability to outperform free broadcast networks in viewership, despite its cable-based distribution. Murdoch attributed this success to the network’s compelling content, dedicated audience, and strong brand identity.
Murdoch’s remarks came in response to a question from Morgan Stanley’s Head of U.S. Media Research, Ben Swinburne, regarding Fox News’ strategies for sustaining its growth in distribution revenues. Murdoch stated that at the heart of Fox News success is high-quality content, outstanding journalism, and a universally recognized brand. He emphasized that the Fox News viewer base is exceptionally loyal and highly engaged with the network. Murdoch further elaborated that viewers see Fox News not merely as a news provider, but as a network tailored to their specific interests and perspectives.
A key point in Murdoch’s address was the network’s ambitious self-perception. He stated that Fox News now considers itself to be among the top five broadcast networks in the United States, a statement that highlights the network’s significant reach and influence despite its cable limitations. To support this claim, Murdoch cited data from January and February, noting that Fox News achieved ratings equivalent to the No. 2 broadcast network during these months. In January, Fox News was second only to NBC in viewership, and in February, it trailed only CBS.
Murdoch emphasized that this strong performance, even with a smaller distribution universe compared to broadcast networks, drives affiliate revenue growth for Fox News. He suggested that the network’s ability to consistently attract a large and dedicated audience makes it a valuable asset for cable providers.
The conversation then shifted to the potential impact of the political landscape on Fox News’ programming and business strategy. Swinburne suggested that the country might be shifting to the right politically, particularly after the recent election. He questioned whether Fox News was adjusting its programming or business management in response to this perceived shift. However, Murdoch firmly rejected this notion.
Murdoch emphasized Fox News’ long-standing position as the No. 1 news network for the past 23 years. He characterized the network as a "commonsense network" that covers stories deemed newsworthy and relevant to its viewers. He insisted that this core philosophy has remained consistent over time.
Instead of adapting to a perceived shift to the right, Murdoch argued that the election results have validated Fox News’ existing position. He pointed to a significant increase in advertising revenues as evidence of this validation. According to Murdoch, Fox News has gained over 100 new clients since the election. These advertisers are drawn to the network’s large and engaged audience, particularly the "middle America" demographic that Fox News effectively reaches. Murdoch suggested that advertisers now recognize the importance of connecting with this segment of the population.
Murdoch highlighted the network’s exceptional ratings performance. He noted that Fox News’ share of the cable news audience has exceeded 65%, and overall ratings have increased by approximately 50%. These figures underscore the network’s dominance in the cable news landscape.
Furthermore, Murdoch highlighted the success of Fox News’ digital platforms. Fox News Digital surpassed all other news brands in January, achieving its third-best month ever in terms of key performance indicators.
Murdoch proudly stated that Fox News Channel had an outstanding year, concluding the year with its highest share of the cable news audience since 2015. Fox News continues to be number one in cable news in both total day and primetime viewers for twenty-three consecutive years.
The momentum continued into the new year, with Fox News starting the year with the largest audience in the first two months of the year in cable news history. This period also included the network’s most-watched month of February ever, showcasing Fox News’ ongoing ability to attract viewers and maintain its position as a leading news provider.
Murdoch reinforced the fact that Fox News has not only dominated cable news, but it has also outdrawn various free to air options. He declared that they averaged 3.9 million weeknight viewers during primetime since January, beating out ABC, CBS, and NBC.
In summary, Lachlan Murdoch’s remarks at the Morgan Stanley conference presented a compelling case for the continued success of Fox News Channel. He attributed the network’s strong performance to its content, loyal audience, and brand identity. He rejected suggestions that the network was adapting to a perceived shift to the right, arguing that the election results have validated Fox News’ existing position. Murdoch highlighted the network’s dominance in both cable and digital news, as well as its ability to attract advertisers seeking to reach a broad audience.
