Fox Corporation is set to enter the increasingly crowded streaming market with a new standalone service, slated to launch by the end of 2025. The announcement was made by Fox CEO Lachlan Murdoch during an earnings call on Tuesday, where he revealed that the service would offer a "holistic" streaming package featuring sports and news content from the network's existing brands.

Murdoch positioned the streaming service as a way to reach consumers who don't subscribe to traditional cable, emphasizing that it's not meant to replace the traditional cable bundle. Instead, the service aims to cater to the growing demographic of cord-cutters and cord-nevers, who are increasingly turning to streaming platforms for their entertainment and information needs.

The new streaming service will give Fox a dedicated platform to air its live sports games, similar to its former partners Warner Bros. Discovery and Disney's ESPN. This move is seen as a strategic response to the changing media landscape, where streaming services are becoming the preferred choice for consumers. Other companies, including CNN, CNBC, DirecTV, and Xfinity, are also betting on the streaming space, making it an increasingly competitive market.

Notably, Fox already owns the free ad-supported streaming service Tubi, which will air the Super Bowl for the first time this weekend. The company has also partnered with Warner Bros. Discovery and Disney's ESPN on the now-scrapped sports streaming service Venu. While Murdoch didn't provide specific details on the pricing and content offerings of the new service, he mentioned that Fox's subscriber expectations will be "modest" and that the service will be "priced accordingly."

The launch of Fox's streaming service is expected to have significant implications for the media industry, as it marks a shift towards a more streaming-centric approach. With the rise of cord-cutting and the decline of traditional TV viewing, media companies are being forced to adapt and find new ways to reach their audiences. Fox's move into the streaming space is seen as a strategic response to this trend, and it will be interesting to see how the service fares in an increasingly crowded market.

In conclusion, Fox's announcement marks a significant development in the streaming wars, as the company seeks to establish itself as a major player in the market. With its focus on sports and news content, Fox is well-positioned to capitalize on the growing demand for streaming services. As the media landscape continues to evolve, it will be fascinating to see how Fox's streaming service fares and how it impacts the broader industry.