ESPN, Warner Bros. Discovery and Fox are teaming up to launch a sports streaming platform this year, dealing another blow to cable TV’s hegemony.
“The platform will be owned by a newly formed company with its own management team, but the name and price have not yet been determined. Disney, Fox and Warner Bros. Discovery will each own a one-third stake. That will happen.” NBC News reported on tuesday.
Viewers can subscribe to the new platform directly via the app or as part of a bundle with streaming platforms Disney+, Hulu, and Max.
The platform is likely aimed at die-hard sports fans and will feature all broadcast and cable networks owned by Warner Bros. Discovery, Disney, and Fox, with an estimated starting price of a whopping $45-$50 per month. become. Networks that may be included include ESPN and its sister networks (ESPN2, ESPNU, etc.), ABC Broadcast Network, TNT, TBS, TruTV, and Fox Sports.
“The launch of this new streaming sports service is a significant moment for Disney and ESPN, a huge win for sports fans, and a huge win for our media business,” Disney CEO Bob Iger said in a statement. “This is an important step forward.” “This means consumers will have access to the full suite of ESPN channels, alongside sports programming from other industry leaders, as part of a differentiated sports-focused offering.”
News of the merger comes as Americans increasingly reject cable TV in favor of streaming, a cord-cutting phenomenon that’s been on the rise for nearly a decade.
“For decades, cable television has been a cash cow for parent companies, but that era is rapidly coming to an end. ” forbes It is described in Last October.
“In recent years, cable networks have had two sources of revenue: subscriber fees and advertising fees, which have helped cover the multibillion-dollar launch costs of streaming video services like Disney+ and Max. Streaming platforms are not yet profitable, so the revenue from the cable industry, while still lucrative, is dwindling.”
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