Fox Acquires DTC Media Business Red Seat Ventures to Operate Within Tubi Media Group
February 10, 2025
Fox Corp. Feb. 10 announced the acquisition of Red Seat Ventures, a creator of direct-to-consumer media businesses. Red Seat Ventures will operate as a standalone entity within Fox’s Tubi Media Group.
Paul Cheesbrough, CEO of Tubi Media Group, assumes the role of chairman, Red Seat Ventures, as Fox plans to launch a standalone subscription streaming VOD business by the end of the year.
The Red Seat Ventures executive team, led by founding partners Chris Balfe and Kevin Balfe, will continue to lead and operate the business.
The company is named after a lone red seat at Fenway Park, home of the Boston Red Sox, signifying the spot where Ted Williams hit the longest home run in the stadium’s history, 502 feet, on June 9, 1946.
“The creator economy is one of the fastest growing media categories worldwide by measure of reach and influence, and consumers are increasingly looking to get their information, insights and entertainment directly from the voices and brands they trust across these platforms,” Cheesbrough said in a statement.
From podcasts to video, subscription products and live events, such as the wholly owned CrimeCon, Red Seat Ventures partners with brands and personalities to operate and expand their cross-platform direct to consumer presence.
Across their 17 creator-led shows, Red Seat Ventures properties cumulatively drove more than 200 million monthly active views in November 2024, and exists as a top 10 podcast network in the U.S. in terms of scale and reach, according to the company.
“In aligning with Fox, we will be able to build upon that investment and expand the services we provide to our creators, while continuing to maintain the independence and integrity of their brands, which is truly the best case scenario,” Chris Balfe, CEO of Red Seat Ventures, said in a statement.
Separately, Fox Corp. added the title of president to COO John Nallen, who has been with the company since 2001. He previously served as CFO at 21st Century Fox.
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