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Fox Launches Streaming Service for African-American Viewers

Fox Corp. (FOXA) launches streaming service to boost profitability amid stiff competition in the streaming space. Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Fox Corporation FOXA recently launched Fox Soul, a free live-streaming service aimed at African-American viewers.

The ad-supported platform features four hours of live original talk and information shows every day, followed by two hours of reruns from the group’s 28 owned-and-operated local television stations. When the programming isn’t live, consumers have on-demand access to recent programs.

The streaming platform is available at foxsoul.tv and as an app for iPhone, Apple TV, Android, and FireTV platforms.” data-reactid=”11″>Fox Corporation FOXA recently launched Fox Soul, a free live-streaming service aimed at African-American viewers.

The ad-supported platform features four hours of live original talk and information shows every day, followed by two hours of reruns from the group’s 28 owned-and-operated local television stations. When the programming isn’t live, consumers have on-demand access to recent programs.

The streaming platform is available at foxsoul.tv and as an app for iPhone, Apple TV, Android, and FireTV platforms.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Fox Corporation Price and Consensus” data-reactid=”12″>Fox Corporation Price and Consensus

Fox Corporation Price and Consensus

Fox Corporation price-consensus-chart | Fox Corporation Quote

 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Streaming Service to Boost Profitability

African-Americans are the third largest racial demographic in the United States, after Whites and Hispanics. Moreover, they continue to lead the consumption of media across multiple platforms.

Per Nielsen, 91% of African-Americans can be reached weekly via television. However, they tend to gravitate toward content that reflects their images and storylines.

Notably, Fox’s own show Empire, which features an African-American cast, shows up among the top 20 most watched shows for both the African-American and total population.

Moreover, Black Panther, which was the first Marvel Studios movie to feature a black superhero, became the third top-grossing title of all times at the North American box office within two months of release.

Thus, a streaming service aimed specifically at the African-American population is expected to boost Fox’s growth prospects in the near term.

Competition to Hurt Growth

The company’s growth is likely to be hurt by competition in the streaming space, with other players targeting specific racial demographics as well.

Notably, ViacomCBS VIAC launched its own streaming service Bet+ in September 2019. This subscription video service also targets African-American audiences where the company sees untapped demand.

Moreover, streaming giant Netflix NFLX has been investing in developing content aimed at specific demographics. The company released the movie Dolemite Is My Name in 2019, which is aimed at a black audience. It has also developed several Spanish-language shows like Narcos and Money Heist for its Hispanic audience.

Further, the streaming market is about to get more crowded with AT&amp;T’s HBO Max and Comcast CMCSA owned NBCUniversal streaming service Peacock set to debut this year.

Zacks Rank

Fox Corp. currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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See these 7 breakthrough stocks now&gt;&gt;” data-reactid=”26″>Streaming Service to Boost Profitability

African-Americans are the third largest racial demographic in the United States, after Whites and Hispanics. Moreover, they continue to lead the consumption of media across multiple platforms.

Per Nielsen, 91% of African-Americans can be reached weekly via television. However, they tend to gravitate toward content that reflects their images and storylines.

Notably, Fox’s own show Empire, which features an African-American cast, shows up among the top 20 most watched shows for both the African-American and total population.

Moreover, Black Panther, which was the first Marvel Studios movie to feature a black superhero, became the third top-grossing title of all times at the North American box office within two months of release.

Thus, a streaming service aimed specifically at the African-American population is expected to boost Fox’s growth prospects in the near term.

Competition to Hurt Growth

The company’s growth is likely to be hurt by competition in the streaming space, with other players targeting specific racial demographics as well.

Notably, ViacomCBS VIAC launched its own streaming service Bet+ in September 2019. This subscription video service also targets African-American audiences where the company sees untapped demand.

Moreover, streaming giant Netflix NFLX has been investing in developing content aimed at specific demographics. The company released the movie Dolemite Is My Name in 2019, which is aimed at a black audience. It has also developed several Spanish-language shows like Narcos and Money Heist for its Hispanic audience.

Further, the streaming market is about to get more crowded with AT&T’s HBO Max and Comcast CMCSA owned NBCUniversal streaming service Peacock set to debut this year.

Zacks Rank

Fox Corp. currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Breakout Biotech Stocks with Triple-Digit Profit Potential

The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.

Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.

See these 7 breakthrough stocks now>>

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Netflix, Inc. (NFLX) : Free Stock Analysis Report
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CBS Corporation (VIAC) : Free Stock Analysis Report
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Netflix, Inc. (NFLX) : Free Stock Analysis Report
 
Comcast Corporation (CMCSA) : Free Stock Analysis Report
 
Fox Corporation (FOXA) : Free Stock Analysis Report
 
CBS Corporation (VIAC) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
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