Breaking with tradition, Fox Corp. did not reveal the 2022-23 schedule for its broadcast network on a press call during upfront week. Instead, the company focused on moving inventory across its entertainment, sports and news properties, as well as free-ad-supported service Tubi.
FOX Entertainment CEO Charlie Collier told reporters during a conference call that the company had elected to hold off on its schedule announcement because it is "taking a new portfolio approach based on the way people are buying across ... linear and digital."
Marianne Gambelli, president of ad sales, marketing and brand partnerships, said during the May 16 call that Fox is ready to transact with schedules on a single property, or across its entire portfolio. She noted that Tubi, with its younger and more diverse audience, adds incremental reach to broadcast and, as such, works well with FOX (US).
The decision to forego unveiling its fall lineup during the upfront may have also been influenced by FOX Entertainment not coming to terms with Walt Disney Co.'s 20th Television, Fox's former sister studio, for new seasons of dramas "9-1-1" and "The Resident." The pacts were reached later in the day and both shows will air their sixth seasons this fall.
When asked about softness in the scatter market, Gambelli said Fox is a smaller company than its competitors and does not need the same level of volume. Fox, at this point, plans to maintain the level of inventory it sold in last year's upfront, but she said such decisions will be made in real-time.
During the upfront, content providers look to sell linear and digital schedules to media agencies and their clients ahead of the upcoming TV season. In scatter, buys are secured much closer to a program's air date, often at pricing above what was negotiated during the upfront selling season.
She also said that broadcast, which has been losing ratings points to declining audiences as streaming becomes more popular, is becoming even more valuable to advertisers, as it remains the best reach vehicle for marketers. She said the company is seeing interest in its broadcast property and is confident the pricing will be there.
There is also interest in better monetization of Tubi, which has grown its audience considerably under Fox's ownership. Gambelli's ad team is making it a priority to drive "more volume for Tubi and the pricing it deserves."
Gambelli downplayed a suggestion that upfront challenges lie ahead due to pandemic concerns and supply chain shortages, noting there has been plenty of uncertainty over the past two years. She said FOX's audience skews younger and is less reliant on packaged goods than its competitors. Still, the company remains flexible in its approach to doing business, and is looking to make the upfront market more accessible "for everyone as conditions keep changing."
FOX expects strength with technology companies and streaming players. Sports, she said, captures large audiences and continues to give rise to opportunities with sports-betting operators, cryptocurrency companies and the financial services category.
During the presentation, Gambelli said buying has become more complex, but the company remains committed to keeping the process simple, while offering custom solutions.
She pointed to FOX Next, a tool enabling advertisers to target audiences across all company platforms; ONE FOX, which can reach large-scale audiences across all digital properties; and the Fox Content Studios in which clients can work directly with production teams to create integrations.
