21st Century Fox Inc. (FOXA), Rupert Murdoch’s entertainment company, is considering new Web-based initiatives to attract younger viewers and consumers who don’t subscribe to traditional pay TV services.
Emerging digital platforms are “the most exciting and important opportunity for future growth,” Chief Operating Officer Chase Carey said yesterday on an earnings conference call with analysts.
The traditional cable TV bundle “is fraying at the edge” as millennials face economic pressure and watch more online, Carey said after Fox posted first-quarter sales and profit that beat analysts’ estimates. Even as Fox plots ways to reach consumers on smartphones and tablets, pay TV will remain “the primary consumer package for years ago come,” he said.
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