Fox Corporation · NASDAQ:FOX
Fox — Investor Day (May 2019)
150 slides from Fox's investor day presentation, May 9, 2019
Slide 1: Caution Concerning Forward-Looking Statements and Non-GAAP Financial Measures
Caution Concerning Forward-Looking Statements and Non-GAAP Financial Measures The Fox Corporation Investor Day presentation contains "forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to financial performance, operat
Slide 2: John Nallen, Chief Operating Officer
JOHN NALLEN Chief Operating Officer Fox Corporation FOX vm Gp» Fox FOX TV STATIONS,
Slide 3: FOX Revenue and Expense Mix
FOX REVENUE AND EXPENSE MIX Revenue
Slide 4: FOX Revenue and Expense Mix
FOX REVENUE AND EXPENSE MIX Revenue Expense
Slide 5: FOX Programming Expense
FOX PROGRAMMING EXPENSE Expense Programming Breakdown
Slide 6: FOX Revenue and Expense Mix
FOX REVENUE AND EXPENSE MIX Revenue Expense Programming Breakdown
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Slide 9: FSi FS2 BIN
FSi FS2 BIN
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Slide 11: Virtual MVPD distributors
> YoutubeTV sling hulu PlayStationVue > SZ AT&T desh
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Slide 13: Distributors
SSTINGSI © xfinity Charter Spectrum»
Slide 14: Station group partners
SBG SINCLAIR BROADCAST GROUP ee Nexstar BROADCASTING GROUP, INC.
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Slide 16: Changing Marketplace
CHANGING MARKETPLACE One Commercial In Each Emmy-nominated Series Would Have Delivered 329M impressions 31M impressions _a=g 1998 2018
Slide 17: Changing Marketplace
CHANGING MARKETPLACE One Commercial In Each Emmy-nominated Series Would Have Delivered 329M impressions 31M impressions 1998 2018 One Commercial In 20 Premium Sports Events Would Have Delivered Eo 438M impressions 1998 2018
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Slide 19: Advertisers
verizon’ PROGRESSIVE Cag; ABInBév (Y\
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Slide 21: Corporate Executive Leadership Team
CORPORATE EXECUTIVE LEADERSHIP TEAM : @ i % VA LACHLAN MURDOCH Executive Chairman and Chief Executive Officer VIET DINH Chief Legal & Policy Officer MICHAEL BIARD President of Operations & Distributions JOE DORREGO Chief Investor Relations Officer & EVP Corporate Initiatives HOPE HICKS EVP & Chief C
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Slide 23: Sports programming brands
, BUNDESLIGA PREMIER BoxINnNG CHAMPIONS
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Slide 26: Suzanne Scott, CEO, FOX News
SUZANNE SCOTT Chief Executive Officer FOX News
Slide 27: | mnt . aot | ee vi
| mnt . aot | ee vi ATE HEARING fe. (er a
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Slide 32: Shareablee, Adobe Analytics, Comscore and Nielsen Media Research (1/1/18-12/30/18)
Shareablee, Adobe Analytics, Comscore and Nielsen Media Research (1/1/18-12/30/18)
Slide 33: Key Strengths
KEY STRENGTHS Multi-Platform, Scaled New Business Linear Dominance in News and in All of Cable Audiences Trust the FOX Brand and Our Journalism Engaged, Upscale and Valuable Audience Owning 100% of our Content, Controlling Costs and Monetizing on Every Platform Well Positioned for Growth
Slide 34: Linear Dominance
LINEAR DOMINANCE Total Viewership Primetime and Total Day CableNews AllCable for 17 Years for 3 Years ch, P2+ Live SD Nielsen Media Research, P2+ Live SD (001 Nielsen Media Research, P2+ Live SD (000) M-F/9a-4p (1/1/18-12/30/18) (000) (2002-2018) FOX(| BUSINESS Total Business Day Business News Durin
Slide 35: For Years...
FOR 20 YEARS... CLINTON BUSH OBAMA TRUMP 1,600 1,200 800 400 0 98 0 2 4 6 8 10 12 14 16 18 == FNC CNN === MSNBC Nielsen Media Research, P2+ Live SD (000) M-F/6a-6a (3/31/97 ~ 3/31/19)
Slide 36: ...and Beating Broadcast for the Biggest Events
..AND BEATING BROADCAST FOR THE BIGGEST EVENTS 12,738 8427 9 167 ne h 4,909 4,937 2010 Midterm 2012 Election Night 2014 Midterm 2016 Election Night 2018 Midterm m FOX News m Cable News Avg. m Broadcast News Avg. Nielsen Media Research, P2+ Live SD (000) “Cable News Avg" includes CNN and MSNBC & “Bro
Slide 37: ...Live Across Every Daypart
... LIVE ACROSS EVERY DAYPART #] #] Morning —————— —————. Daytime NETWORK — P2+(000) NETWORK ~— P2+(000) Nielsen Media Research, P2+ Live (000) (1/1/18-12/30/18)
Slide 38: ...Live Across Every Daypart
... LIVE ACROSS EVERY DAYPART #1 #] Primetime —————— —— Weekend NETWORK = P2+(000) NETWORK _ P2+(000) Nielsen Media Research, P2+ Live (000) (1/1/18-12/30/18)
Slide 39: Linear Dominance
LINEAR DOMINANCE Across All Regions Regardless of Political Allegiance Nielsen Media Research, P2+ Live SD (000) M-SU/6a-6a (1/1/17-1/1/19)
Slide 40: We Are the Most Trusted News Source
WE ARE THE MOST TRUSTED NEWS SOURCE Do You Trust These News Brands? 87% 86% 81% i : rl ©)P8s Bloomberg aeMSNBC Fox is the #1 Trusted American TV News Brand... 2018 Brand Keys Research Intelligence Study 2016 Suffolk University/USA Today poll What TV News or Commentary Source Do You Trust the Most? N
Slide 41: We Deliver Alive and Engaged Audience on All Platforms
WE DELIVER ALIVE & ENGAGED AUDIENCE ON ALL PLATFORMS Yeox| 32 =| ffrox| 31 mins mins Length of Tune Average per Visitor Nielsen Media Research, A25-5é Live SD (000) M-F/6a-6a (1/1/18-12/30/18) Comscore Multi-Platform: 12 Month Avg Minutes Per Visitor (Jan-Dec 2018)
Slide 42: With Upscale Viewers
WITH UPSCALE VIEWERS 2018 A25-54 Median Income UA) STO7K #7 BBesiccabtes. Median Income [esx $8 3) K # 1 He re Ee scene Median Income
Slide 43: Connection Drives Action
CONNECTION DRIVES ACTION Our Viewers Agree OO My Emotional Companies Connection That Advertise With Fox News On Fox News Is Strong Are Trustworthy FOXNews Insights, Trust as a Proxy for Brand Value & Corporate Perceptions Study 94% These Advertisements Increase My Awareness 79% These Advertisements
Slide 44: Brand Expansion: Innovation and Growth
BRAND EXPANSION: INNOVATION AND GROWTH Growing the FOX News Digital Footprint Building on the Success of FOX Business with Multi-platform Brand Refresh and Expansion Expanding Our Business on All New Platforms
Slide 45: Investing in Growth - FOX News Digital
INVESTING IN GROWTH - FOX NEWS DIGITAL Leading Market in Engagement 2018 Digital News Competitive Set Minutes (billions) CNN.com 30.4 WashingtonPost.com 15.4) NYTimes.com 15.0 HuffPost.com 67 NBCNews.com By CBSNews.com 47 USAToday.com 44 WSJ Online 3.6 ABCNews.com 29 Reuters {ell Comscare Multi-Plat
Slide 46: Investing in Growth - FOX News Digital
INVESTING IN GROWTH - FOX NEWS DIGITAL Growing Faster in Uniques eve UNIQUES CNN 119M <@414% UNIQUES vs. 2016 Avg Comscore Multi-Platform Uniques (Jan 16 - Dec 16, Jan 19 - Mar 19)
Slide 47: Investing in Growth - FOX News Digital
INVESTING IN GROWTH - FOX NEWS DIGITAL Winning in Social MOST ENGAGED o£ News & Business Brands on Social LIVE VIDEO NEWS Shareablee Facebook, Twitter, Instagram combined sacial engagement, US Facebook Fans as of 3/31/2019
Slide 48: Investing in Growth: FOX Business
INVESTING IN GROWTH: FOX BUSINESS Overtaking CNBC in Business Day & Building a Digital Future @Wcnsc 218 201 204 180 2015 2016 2017 2018 Nielsen Media Research P2+ (000) M-F/9a-4p (12/29/14-12/30/18) * Successfully Grew to Become Leader in Linear Business ¢ Further Investment in a Multi-Platform Bra
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Slide 50: Investing in Growth: New Platforms
INVESTING IN GROWTH: NEW PLATFORMS | SOCIAL LY! | AUDIO qq) OR LER Q? VFOX NEWS WN VEOXNEWS a ar « ‘PODCASTS| 'ASTS> NATION lor Fac
Slide 51: Shareablee, Adobe Analytics, Comscore and Nielsen Media Research (1/1/18-12/30/18)
Shareablee, Adobe Analytics, Comscore and Nielsen Media Research (1/1/18-12/30/18)
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Slide 53: Eric Shanks, CEO, FOX Sports
ERIC SHANKS Chief Executive Officer and Executive Producer FOX Sports FOX FOXY
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Slide 56: Oct 25, 1986
OCT 25, 1986
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Slide 58: The Power of Now
UEEASBING ee POWER OF NOW... (Se ya = ; a 4 4 | a NS i, = — <j Pas (FOX) _.WITH FOX ATTITUDE TO UNITE FANS FOREVER
Slide 59: FOX Sports Highlights
ne r Lil Live FOX SPORTS HIGHLIGHTS
Slide 60: FOX Sports Highlights
FOX SPORTS HIGHLIGHTS The Leader in Live Event Viewing
Slide 61: FOX Sports Highlights
FOX SPORTS HIGHLIGHTS The Leader in Live Event Viewing Second to None Rights Portfolio
Slide 62: FOX Sports Highlights
FOX SPORTS HIGHLIGHTS The Leader in Live Event Viewing Second to None Rights Portfolio Leader in Football & Baseball Innovative New
Slide 63: FOX Sports Highlights
FOX SPORTS HIGHLIGHTS The Leader in Live Event Viewing Second to None Rights Portfolio Leader in Football & Baseball Innovative New Revenue Sources ioned for Growth
Slide 64: Two Distinct Marketplaces
TWO DISTINCT MARKETPLACES PlayStationVue You Tube DIRECTV NOW FOX’ BUSINESS FRANCE 2019 apes) 4 ess ot PIONSHIE) /
Slide 65: Sports More Important to Americans Than Ever
SPORTS MORE IMPORTANT TO AMERICANS THAN EVER Share of Top 100 Telecasts tt +250% increase 1998 2018
Slide 66: Sports More Important to Americans Than Ever
SPORTS MORE IMPORTANT TO AMERICANS THAN EVER Shows Delivering 20M+ Viewers: 2017 & 2018 33 Non-Sports dios, and sustainers. P2+ AA,
Slide 67: Major events
FIFA Women's | s Bowl World Cup UP ee ey ree 4
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G's i i. ai | j
Slide 69: FOX Is the Home of High-Profile Sports
FOX IS THE HOME OF HIGH-PROFILE SPORTS Total Minutes of Live Sports Event Viewing (billions) 616 615 Cable Broadcast zsrit © ae ae @CBS
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Slide 72: i Ul] - r
i Ul] - r nea Diy i lH
Slide 73: Sports rights portfolio
FOX) = fan Cd ame NFL Ray ; SERIES a New SUPER BOWL we @® —sWWINASCAR PREMIER Boxing CHAMPIONS EYSEAST CONFERENCE
Slide 74: Key Rights Secured Through 2022
KEY RIGHTS SECURED THROUGH 2022 Current Rights Calendar Leg 227 ——— 9 2()7/, se 285
Slide 75: We Have an Unbeatable Lineup
WE HAVE AN UNBEATABLE LINEUP Fall Weekends witson Ww TAISHT:) ay oe FOOTBALL TV's #1 Show 52 Weeks / Year Monday-Friday for Next 5 Years Nielsen L+SD; 9/24/2018 ~ 4/25/2019. M-F P2+ AA. Nielsen L+SD; 2016-2018, FOX College Football Regular Season Consumption. Excludes Conference Championships, Bowl
Slide 76: Developing New Revenue Opportunities
DEVELOPING NEW REVENUE OPPORTUNITIES Pay-Per-View Boxing
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Slide 80: Closing Thoughts
CLOSING THOUGHTS Strongest Portfolio in Media Long Term Relationships Fox Expertise and Innovation New Growth Opportunities Live Sports the Most Powerful Disruptor
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