Disney, Fox, Warner Bros Discovery to create joint sports streaming platform
FOX, Walt Disney’s ESPN and Warner Bros Discovery said on Tuesday (Feb 6) that they were set to release a sports streaming platform later this year, in a bid to capture younger audiences and save costs.
The media behemoths own a broad portfolio of sports rights including those for Fifa World Cup, Formula 1 and National Football League, which present an opportunity to reach a younger audience.
The CEOs have been discussing a collaboration for some time, one source with knowledge of the situation said.
The platform would be made available via a new app, the companies said, adding that the service would have a new brand and an independent management team.
The new app is a recognition that there is an increasingly large market for sports outside of traditional TV. This platform is designed to address that market.
The product will bring sports linear networks and Disney’s direct-to-consumer ESPN+ together, the statement said.
A NEWSLETTER FOR YOU
Lifestyle
Our picks of the latest dining, travel and leisure options to treat yourself.
Formation of the streaming platform, scheduled to launch in the fall of 2024, is subject to negotiation of agreements among the companies, they said.
Early last year, Iger had suggested that Walt Disney wants to keep ESPN and will look for strategic partners to form a joint venture or buy a stake in the sports network to help take it directly to consumers.
Activist investor Nelson Peltz believes Disney can achieve profitability in streaming by bundling its ESPN+ online service with a larger player interested in sports, according to media reports from last month. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Lifestyle
Former Zouk morphs into mod-Asian Jiak Kim House, serving laksa pasta and mushroom bak kut teh
Massimo Bottura lends star power to pizza and pasta at Torno Subito
Victor Liong pairs Aussie and Asian food with mixed results at Artyzen’s Quenino restaurant
If Jay Chou likes Ju Xing’s zi char, you might too
Mod-Sin cooking izakaya style at Focal
What the fish? Diving for flavour at Fysh – Aussie chef Josh Niland’s Singapore debut