Fox acquires Red Seat Ventures to diversify into podcasts

The news: Fox acquired Red Seat Ventures, a digital media company that produces content for high-profile independent creators, including former Fox News hosts Tucker Carlson, Megyn Kelly, and Bill O’Reilly.

• Red Seat Ventures will operate as a standalone entity under Fox’s Tubi unit, keeping it separate from Fox News but aligned with Fox’s broader digital strategy. No financial details were disclosed, but the acquisition strengthens Fox’s push into the creator economy, a rapidly growing segment of the media industry.

Why it matters: Fox is doubling down on diversification beyond linear and cable TV..

• By integrating Red Seat into Tubi, Fox gains deeper access to the creator-driven news and opinion economy, an area increasingly competing with legacy media.
• Although not currently tied to Fox News, Carlson, Kelly, and O’Reilly have all served as anchors on the network before. Now they will be affiliated with a Fox-owned entity again, adding an intriguing dynamic to their independent ventures.
• Red Seat had 200 million monthly active views as of November 2024, underscoring the shifting media consumption trends from traditional broadcast to on-demand, personality-driven platforms.

Our take: This deal reflects a shift in media power dynamics.

• Fox is strategically future-proofing its media business. The company recognizes that audiences are increasingly consuming news and political commentary through podcasts and digital video, making Red Seat’s expertise highly valuable.
• Tubi’s role signals Fox’s digital-first ambitions. Keeping Red Seat under Tubi instead of Fox News suggests that Fox sees streaming and digital distribution as the next frontier for news, commentary, and entertainment.
• Red Seat’s client list provides Fox with opportunities beyond politics. While known for its roster of right-leaning political commentators, Red Seat also has true crime brands , lifestyle content, and a growing entertainment segment, broadening its potential reach.
• This move is part of a larger industry trend. Traditional media companies are increasingly partnering with podcasters, YouTubers, and digital-first creators to maintain relevance in an era where independent voices often outdraw legacy media in engagement.
• Monetization and advertising potential. Red Seat’s success in direct-to-consumer media and independent ad sales could help Fox monetize digital audiences more effectively, complementing its streaming and ad-supported media strategy.

By acquiring Red Seat Ventures, Fox isn’t just expanding its content portfolio—it’s staking a claim in the growing host-driven podcast industry which offers unique monetization opportunities.