Fox CEO James Murdoch: ‘Fundamentally, We Have to Make Better Movies’

Twenty-First Century Fox CEO James Murdoch said the executive changes at its film were driven by a string of poor box office performances, echoing statements his brother and Fox Executive Co-Chairman Lachlan Murdoch made last week.

In his remarks at the three-day event, Murdoch explained that the moves at 20th Century Fox, which saw Chairman Jim Gianopulos depart earlier than expected this month and Stacey Snider replace him, came down to its inability to repeatedly deliver movies that won over audiences, as expressed in Fox’s weak box office performance over the last couple years.

Fox Boss Lachlan Murdoch Blames Poor Box Office for Shakeup of Top Studio Execs

Murdoch lamented that even when Fox delivered a hit, like February’s R-rated superhero flick “Deadpool,” the studio couldn’t carry forward that momentum.

Like Time Warner CEO Jeff Bewkes earlier in the day, Murdoch spent a good part of his session extolling the virtues of the new streaming services, such as Hulu — which Fox and Time Warner are both investors in — that have been popping up with increased frequency.

Borrowing part of an analogy his brother used at last week’s Bank of America Merrill Lynch conference, Murdoch said content owners, who operate upstream in the distribution pipeline, stand to benefit from more competition downstream.

Advertising was another major theme in Murdoch’s remarks, as he said the current “interruptive” nature of TV commercials made for a poor user experience, and talked about Fox subsidiary TrueX, which produces interactive ads which viewers on streaming or mobile platforms can choose to engage with an ad instead of watching a traditional commercial break.

Murdoch hardly addressed Fox News other than to praise the company’s handling of former CEO Roger Ailes’ sexual harrassment allegations and subsequent resignation, and its success in the ratings.