Fox News experienced a significant ratings decline in October. However, FOX Corp. CEO Lachlan Murdoch believes viewers are experiencing news fatigue.
What We Know: Speaking during FOX Corp.’s quarterly earnings call Monday morning, Murdoch addressed the network’s recent audience struggles. Fox News recorded a 28% year-over-year decrease in primetime ratings during October. The decline comes after an eventful news cycle in 2025, which included President Donald Trump’s inauguration, the death of Charlie Kirk, and the Department of Government Efficiency. Despite the ratings challenges, FOX Corp. delivered a record quarter, generating more than $4 billion in revenue. The company’s quarterly revenue reached $4.57 billion, representing 22% growth over the previous year.
What They Said: “What we are seeing is some viewer fatigue, where our viewers have gone through an incredible news cycle last year with the inauguration, the Charlie Kirk tragedy, DOGE, flooding, it was an incredible news cycle last year … Those viewers are not switching to another news channel. They are just fatigued and watching slightly less television overall. We have seen this playbook, and we know how to move through it.” -Lachlan Murdoch
What Remains Unclear: Murdoch didn’t provide a specific timeline for when Fox News expects its audience to return to previous levels. Additionally, it’s unclear how much longer the network’s ratings could remain below year-ago levels.
What It Means: Murdoch’s comments suggest FOX Corp. isn’t viewing the ratings decline as a fundamental problem with its news programming. Instead, the company believes audiences will eventually return as the current news cycle develops. Meanwhile, its record financial performance demonstrates that Fox’s broader business remains strong despite the network’s recent audience losses.
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