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Disney, Fox and Warner Bros Discovery unite to launch new sports streaming service
The three major media companies are creating a joint sports streaming platform, combining 14 linear networks in the US.
The new entity will be jointly owned by the three media companies, which will have equal board representation and agree to license their sports content on a non-exclusive basis. An independent management team will operate the new entity. (Image source: Unsplash)
Fox Corp, Walt Disney's ESPN and Warner Bros Discovery are going to launch a new combined sports streamer in 2024, to capture younger audiences who are not consumers of linear television. The new streaming service will combine 14 linear networks and is expected to be priced at above $40 per month.
The media companies will form a joint venture to create a new streaming product from their portfolio of sports rights, which include the NFL, the NBA, Major League Baseball and FIFA World Cup.
Subscribers would also have the option of subscribing to it as part of a streaming bundle from Disney+, Hulu or Max. "This means the full suite of ESPN channels will be available to consumers alongside the sports programming of other leaders," Walt Disney CEO Bob Iger said in a statement.
Reuters stated, quoting a media analyst, “an all-sports digital offering also is likely to appeal to Amazon, Apple and Roku, which aggregate streaming video for millions of consumers.”
Lachlan Murdoch, Fox CEO and chief executive chair, said during an earnings call, “The inclusion of our networks in the platform is consistent with our strategy, being proudly consumer-first and distribution agnostic across the distribution ecosystem.”
The Fox CEO stressed that traditional pay TV will remain the company’s dominant customer base, but he added the new sports streaming platform “opens up a new market for us, one that we have not accessed before and that we’re excited to participate in.”
The new entity will be jointly owned by the three media companies, which will have equal board representation and agree to license their sports content on a non-exclusive basis. An independent management team will operate the new entity.
The new sports-centric streamer shows that these legacy media entities - Fox Corp, Disney and WBD, recognise the large market for sports outside of traditional TV. A prime example of the exponential rise in sports viewership on steaming services was witnessed last year in India during the cricket Indian Premier League.
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