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Last year in the second quarter, Disney+ and Hulu lost $587 million. The thesis among all major legacy media companies has been that streaming will eventually take over for cable TV as the primary money-making engine. It's not just that Disney nearly made money in streaming — it's that the company's traditional linear TV results were awful. Next year, Disney will launch its flagship ESPN streaming service, which will allow consumers to subscribe to ESPN without cable at all. Looking at Disney's results in the second quarter, it's clear why the company has finally pulled the ripcord on ESPN.
Persons: Bob Iger, It's, Disney Organizations: Walt Disney Company, Disney, Hulu, ESPN, Paramount Global, Warner Bros . Discovery, Comcast, Fox, College Football, ABC, Disney Channel, FX, Geographic, Disney Junior Locations: Beverly Hills , California, U.S
We've put together everything you need to know about how to watch the NFL Draft, including a free Round 1 live stream. How to watch the NFL Draft in the USThe NFL Draft will air on ABC, ESPN, and the NFL Network in the US. If you don't have cable, you can access these channels via live TV packages like Sling TV and Hulu + Live TV. Shop at HuluHow to watch the NFL Draft in the UKIf you don't mind staying up late on Thursday and Friday, you can catch the NFL Draft through Sky Sports in the UK. How to watch the NFL Draft in AustraliaYou can catch the NFL Draft a couple of different ways in Australia.
Persons: We've, Caleb Williams, Marvin Harrison Jr, Malik Nabers, Hulu's, There's, ExpressVPN Organizations: Business, NFL, Chicago Bears, Washington, New England Patriots, Louis Cardinals, Green Bay Packers, Los Angeles Rams, USC, LSU, ABC, ESPN, NFL Network, ESPN2, Hulu, Disney Plus, Sky Sports Locations: Detroit , Michigan, St, Caleb Williams , Ohio, Australia, Australian
The Walt Disney company logo is displayed on the floor of the New York Stock Exchange during morning trading on Dec. 1, 2023. Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo. LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said. At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.
Persons: Aaron LaBerge, LaBerge, He'll, He's, Bob Chapek, Kevin Mayer, Christine McCarthy, Alan Horn, Alan Braverman, Zenia Mucha, Sean Bailey, Aaron, Jimmy Pitaro, Dana Walden, Alan Bergman, Chris Lawson, Paul Allen Organizations: Walt Disney, New York Stock Exchange, Disney Entertainment, ESPN, PENN Entertainment, ESPN Bet, Disney, Hulu, Warner Bros . Discovery, Fox, Walt Disney Studios, Walt Disney Pictures, ESPN BET, Company, Starwave
But also a true thing: In 1994, when Simpson fled police in his white Bronco, 95 million people watched the slow-motion chase on TV, in real time. In 1994, AOL, the service that popularized the "World Wide Web," had a little more than a million subscribers. AdvertisementAnd the notion that we're never getting a TV event like the Simpson affair is not a new one, either. Digital media can certainly focus a lot of people's attention on one thing, but it can't compel everyone to watch one thing. Now I'm going to go stream June 17th, 1994 — ESPN's documentary about the Simpson chase.
Persons: , OJ Simpson, Simpson, We're, Rupert Murdoch's Fox, Kato Kalein, Lance Ito, Rick Maiman, Here's, Joanna Robinson, Robinson, Addison Rae, They're, It's, I've Organizations: Service, Bronco, Business, AOL, Getty Locations: America
That would mark a milestone for the company, which launched Disney+ on Nov. 12, 2019. It would be the first time Disney showed it can make money from Disney+, Hulu and ESPN+. Disney will need to sustain and grow streaming profit to justify Iger's five-year-old strategy to go "all in" on the segment. Disney has already offered ESPN+, a sports streaming service that has some but not all of ESPN's content. Trian Partners' Nelson Peltz, who failed to join Disney's board Wednesday after securing just 31% of the vote, publicly questioned what he has called Disney's "woke" content strategy.
Persons: Bob Iger, Sun Valley , Idaho David A, Iger, Disney, they've, Cowen, Doug Creutz, Needham, Laura Martin, Gabby Jones, David Greenbaum, Sean Bailey, Alan Bergman, Indiana Jones, Nelson Peltz, Peltz, shouldn't, Bob Chapek, He'll, Bergman, Jimmy Pitaro, Josh D'Amaro, Dana Walden, They've, Cowen's, you've, That's, it's, — CNBC's Sarah Whitten, Needman's Martin Organizations: Disney, Allen & Company Sun Valley Conference, Grogan, CNBC Disney, Disney Disney, Hulu, ESPN, Co, Warner Bros . Discovery, Fox, CNBC, Athletic, Bloomberg, Getty, Marvel, Star Wars, Searchlight, Walt Disney Motion, Disney Entertainment, Century Fox, Sony, Disney's Marvel Studios, Trian Partners, Financial Times, Resorts, Iger Locations: Sun Valley , Idaho, Brooklyn , New York, Iger, Parks, Disney
ESPN's fight for dominance
  + stars: | 2024-03-21 | by ( Tala Hadavi | Darren Geeter | Alex Sherman | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow ESPN is trying to stay relevant as cable declinesESPN has been the most dominant sports channel for more than 40 years. It holds live sports rights including the NFL's Monday Night Football, the NBA and the WNBA. But as millions of Americans cancel their cable TV subscriptions and big tech companies like Amazon and YouTube bid on live sports, ESPN has had to adjust — or decline along with the pay-TV business. CNBC sat down with former and current executives to talk about the future of the sports juggernaut.
Organizations: ESPN, Football, NBA, Amazon, YouTube, CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Disney CEO Bob Chapek on ESPN's futureBob Chapek, former Disney CEO, sat down with CNBC's Alex Sherman in his first public interview since leaving Disney to discuss his thoughts on ESPN's future.
Persons: Bob Chapek, CNBC's Alex Sherman Organizations: Former, Disney
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChairman Jimmy Pitaro on ESPN's uncertain futureESPN chairman James Pitaro sat down with CNBC to discuss the company's future as it faces serious cord cutting and competition from tech companies like Amazon and YouTube with deeper pockets than parent company Disney.
Persons: Jimmy Pitaro, James Pitaro Organizations: ESPN, CNBC, Amazon, Disney
For more than 40 years, the world's largest all-sports network has grown annual revenue by increasing cable subscription fees. In 2023, ESPN's monthly carriage fee was $9.42 per subscriber, according to data from S&P Global Market Intelligence. Since 2013, tens of millions of Americans have canceled their cable TV subscriptions, raising questions about ESPN's future in an increasingly fragmented media landscape. Second, in fall 2025 ESPN will launch its flagship streaming service that will include everything ESPN has to offer, both live and on demand. The product will go well beyond ESPN+, which exists as a $10.99 streaming service that doesn't include ESPN's most expensive programming, such as all of "Monday Night Football."
Organizations: Disney, ESPN, P Global Market Intelligence, CNBC, Warner Bros . Discovery, Fox, ESPN Bet
In his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told CNBC he sees no reason for Disney-owned ESPN to add minority partners. The company hasn't yet announced a deal to sell a stake in ESPN. Disney owns 80% of ESPN and Hearst owns the other 20%, a structure that's been in place since 1996. Bringing on a technology or telecommunications company such as Verizon or Apple could give ESPN broader distribution options by reaching larger customer bases. That is something, as Bob [Iger] has said, that we are very much open to, but this is about partnership and accelerating the launch or the adoption of ESPN flagship."
Persons: Bob Chapek, Chapek, Bob Iger, CNBC's David Faber, Disney, Iger, Disney's, Jimmy Pitaro, Pitaro, Bob Organizations: Disney, CNBC, ESPN, National Football League, National Basketball Association, Hearst, Verizon, Apple Locations: American
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC's Alex Sherman talks new CNBC digital doc 'ESPN's Fight for Dominance'Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Alex Sherman, Brian Sullivan, Organizations: CNBC
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Paramount, which broadcast and streamed the game to what was probably the biggest audience in the game's history. And Paramount, whose Paramount Plus livestream conked out for some users, who took to the internet to complain. AdvertisementWithout more detail from Paramount, it doesn't make sense to speculate about the cause of Paramount's problems. Like Netflix, which struggled to show a live episode of "Love is Blind" less than a year ago.
Persons: , Taylor Swift, Robert F, Kennedy Jr, ESPN's, it's, Roger Lynch, Lynch, Condé Nast, Comcast's Peacock Organizations: Service, Kansas City Chiefs, Paramount, San Francisco 49ers, Business, HBO, Big Tech, Netflix, NFL
CNBC Pro combed through Bank of America research to find attractive stocks heading into earnings. Global Payments Analyst Jason Kupferberg is doubling down on shares of the payment processing company heading into earnings on Feb. 14 . "If executed well, we still think integrations between ESPN's media app and ESPN Bet could drive sustainable high-single-digit market share," he said. "We are Buy rated on PENN given stable regional gaming trends and upside opportunity from ESPN Bet," Kelley wrote. … While disappointing at face, turnarounds are never a straight line and we think investor expectations for PENN & ESPN Bet remain low.
Persons: it's, there's, Jason Kupferberg, Kupferberg, GPN, Tal Liani, Liani, Shaun Kelley, that's, Kelley, Penn Organizations: Nvidia, Bank of America, CNBC, Arista Networks, Penn Entertainment, Global, Arista, Microsoft, TAM, Penn, ESPN, ESPN Bet, PENN, SG, Enterprise, SAP, VMWare, Dell, Penn Ent, Interactive, Locations: Bank, CY25, 2H24
Now, if a league or network isn't doing something to appeal to younger fans, they are behind the times. Nickelodeon will air its fifth NFL game on Sunday when the Kansas City Chiefs face the San Francisco 49ers for the Vince Lombardi Trophy. Networks and leagues also continue to experiment with social media and creating more viral highlights to keep younger fans interested. “There’s just so many more tools now at our disposal to address the complex consumption habits of young fans. The pie has many more pieces to it for young fans,” Lehanski said.
Persons: Vince Lombardi, Sean McManus, , ” McManus, they've, SpongeBob SquarePants, Patrick Star, Travis Kelce, it's, , Hans Schroeder, “ I’ve, Nate Burleson, Marvel, Dave Lehanski, Goofy, SpongeBob, Bruce Beck, Julie Sobieski, ESPN's, “ There’s, ” Lehanski, ___ Organizations: CBS, NFL, Nickelodeon, Kansas City Chiefs, San Francisco 49ers, CBS Sports, Media, Disney, ESPN, Atlanta Falcons, Jacksonville Jaguars, Nielsen, NHL, Big City Greens, NBA, Business Development, Innovation, Walt Disney Company, MLB Little, Williamsport, . Networks Locations: London, Williamsport , Pennsylvania
That's what makes the upcoming proxy battle between Disney and the activist investor Nelson Peltz so compelling. Peltz's Trian Partners investment firm oversees about $3 billion worth of Disney stock, including shares held by former Marvel Entertainment Chairman Ike Perlmutter. For its fiscal second quarter, Disney expects net additional subscribers to Disney+ between 5.5 million and 6 million, with domestic adding 7.5 million due to its agreement with Charter Communications, while international core subs decline modestly. Disney is getting closer and closer to achieving its first profitable DTC quarter, which it continues to expect in its fiscal fourth quarter. In the Experiences segment, Disney delivered record revenue, operating income, and operating margin in its fiscal first quarter.
Persons: Bob Iger, Iger, Hugh Johnston, Nelson Peltz, Jay Rasulo, Peltz's, Ike Perlmutter, Taylor, Taylor Swift, , Johnston, Disney, WBD, That's, Jim Cramer's, Jim Cramer, Jim, Gabby Jones Organizations: Disney, Revenue, LSEG, Peltz's Trian Partners, Marvel Entertainment, Entertainment, Hulu, Netflix, Charter Communications, Networks, Walt Disney World, Disneyland, Cruise, Sports, ESPN, Fox, Warner Bros Discovery, CNBC, Management, Epic Games, Bloomberg, Getty Locations: Disney's, Florida, California, buybacks, Brooklyn , New York
Analysts are largely bullish on Walt Disney stock ahead of the media company's fiscal first-quarter earnings out Wednesday afternoon. But analysts are not sure about the effect of the move on Disney's share price just yet. Analysts are generally optimistic on Disney ahead of earnings, with some even thinking the stock is trading at a cheaper valuation than it should be. Disney remains Morgan Stanley's sole overweight media stock given the firm's bullish view on parks and streaming, analyst Benjamin Swinburne wrote in a Monday note. DIS 1Y mountain Disney stock.
Persons: Wells, Steven Cahall, Morgan Stanley's, Benjamin Swinburne, Swinburne, Jason Bazinet, Bazinet, Hugh Johnston, Disney, Blackwells, Nelson Peltz's Organizations: Walt Disney, Disney, Blackwells, ESPN, Fox, Warner Bros . Discovery, UBS, Big Tech, Citi, Hulu, DIS, Capital, Fund Management Locations: rebundling, Tuesday's, F1Q23
ESPN will launch its flagship direct-to-consumer service in either August or the fall of 2025, Disney CEO Bob Iger announced during an interview Wednesday with CNBC's Julia Boorstin. The service will include all of ESPN's programming and feature new personalization and integration with ESPN's fantasy platforms and ESPN Bet. The direct-to-consumer service would have been the first time noncable subscribers could access ESPN outside of the traditional cable bundle. ESPN didn't announce a price for the flagship direct-to-consumer service. Disney already has a sports streaming service in ESPN+, which ended the quarter with 25.2 million subscribers, down from 26 million a quarter ago.
Persons: Bob Iger, CNBC's Julia Boorstin, ESPN didn't Organizations: NFL, ESPN, Chicago Bears, Minnesota Vikings, Soldier, Disney, ESPN Bet, Fox, Warner Bros, CNBC PRO Locations: Chicago
Nick Saban is joining ESPN's “College GameDay,” the long-running Saturday pregame road show he appeared on as a guest so frequently during his 17 seasons as Alabama coach. “ESPN and College GameDay have played such an important role in the growth of college football, and I’m honored to have the opportunity to join their team,” Saban said in a statement. Photos You Should See View All 15 Images"Nick Saban is a singular, iconic presence in college football. Saban has also appeared on ESPN's college football coverage as a guest analyst during the occasional postseasons when his Crimson Tide was not competing for the national championship. ___AP college football: https://apnews.com/hub/college-football and https://apnews.com/hub/ap-top-25-college-football-poll
Persons: Nick Saban, Saban, , , Rece Davis, Kirk Herbstreit, Lee Corso, Desmond Howard, Pat McAfee, College GameDay, ” Saban, Jimmy Pitaro Organizations: ESPN's “, Saban, Alabama, LSU, ESPN, College, GameDay, NFL, SEC Media, Southeastern Conference, SEC, Crimson Tide, AP Locations: Alabama
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said Wednesday investors should be cautious of the surge though. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Dow, There's, Jim, Nelson Peltz, Jim Cramer's Organizations: CNBC, Nasdaq, Treasury, Ford, UAW, Disney, Fox, Warner Bros
The NHL isn't the only one who uses the All-Star Game as a lab to test different things that could find its way into the game in the future. This weekend's events in Toronto are also a chance for ESPN and Sportsnet to experiment with coverage ideas that could be implemented down the line during the regular season and Stanley Cup playoffs. The biggest change the league and ESPN implemented is the retooled skills competition on Friday night. The skills competition will be broadcast on ESPN, and Saturday afternoon's All-Star Game will be on ABC. The network and NHL are hoping ratings for the All-Star Game continue to rebound.
Persons: , Linda Schulz, It's, Schulz, John Buccigross, He's, , Subban, ” Steve Mayer, ___ Organizations: NHL, ESPN, Sportsnet, Stanley, ABC Locations: Toronto
We're taking a closer look at a few of our stocks in the headlines on Tuesday: Starbucks, Constellation Brands and Walt Disney. The firm said it is looking beyond the current quarter, noting that Starbucks is "underearning vs its potential." Constellation Brands News: Bernstein named Constellation Brands its top pick for 2024 in a Tuesday research note. That's why a potential partnership that would give equity ownership of ESPN to a professional sports league would be so interesting. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Walt Disney, Morgan Stanley, Bernstein, Jim, Bob Iger, Wells Fargo, Nelson Peltz, Jim Cramer's, Jim Cramer, Spencer Platt Organizations: Starbucks, Constellation Brands, Walt, Modelo, Disney, ESPN, National Football League, New York, NFL Media, NFL Network, Players Association, NFL, Netflix, CNBC, People, Starbucks Workers United, Getty Locations: Israel, China, Corona, Pacifico, New, New York City
Disney's Bob Iger got out of a jam with two of his biggest stars: Jimmy Kimmel and Pat McAfee. AdvertisementThere aren't a lot of media moguls who could get out of a jam involving two of their biggest stars and accusations of pedophilia. It's unclear when McAfee intends to bring Rodgers back or if he ever will; ESPN reps declined to comment. One of the reasons is that while Disney and ESPN are reported to be paying McAfee $85 million over five years to bring his daily talk show to ESPN, McAfee isn't a Disney employee. And certainly not one about one of ESPN's biggest stars, who's supposed to represent its path to the future.
Persons: Bob Iger, Jimmy Kimmel, Pat McAfee, ABC's Kimmel, ESPN's McAfee, Iger, , Pat McAfee —, Aaron Rodgers, Jeffrey Epstein, Epstein, Kimmel, Rodgers, McAfee, Pat McAfee's, Randy Holmes, strafe Kimmel, who's Organizations: Disney, Service, ABC, ESPN, NFL, DR, Wednesday, Super, Pat McAfee's ESPN, ESPN It's, McAfee, Iger, Marvel, Locations:
Kevin Hart doubled down on his criticism of Katt Williams on ESPN's 'NBA Unplugged." On Wednesday, Williams blasted Hart during an appearance on the "Club Shay Shay" podcast. AdvertisementKevin Hart isn't backing down after Katt Williams suggested he was an industry plant and slammed his comedy career during an explosive podcast interview. Kevin Hart on NBA Unplugged"I don't know if you know this but Katt Williams bought the Knicks. AdvertisementAlthough the two traded barbs in the past, their most recent disagreement stems from Williams' appearance on Shannon Sharpe's podcast, where he critiqued several comedians and shared claims about his entertainment career.
Persons: Kevin Hart, Katt Williams, ESPN's, Williams, Hart, Shay Shay, Williams dissed Tiffany Haddish, , Kevin Hart isn't, Hart clapped, Kendrick Perkins, Katt, Shannon, we've, , It's, It’s, vM8PhVoC08 — Kevin Hart, Hart's, Tiffany Haddish, Frank, Wanda, Haddish hadn't, Ludacris, Sharpe, Mike Organizations: Service, Williams, New York Knicks, Philadelphia 76ers, Knicks, NBA, Delaware University, Twitter, Netflix, Haddish, Cube Locations: Hollywood, LA
McAfee implied Williamson may have leaked the idea for the story to New York Post reporter Andrew Marchand. That is just seemingly the only human that has information and then somehow that information gets leaked, and it's wrong." ESPN management values the importance of McAfee and Williamson and is looking into why McAfee denigrated an executive, according to a person familiar with the matter. "At the same time, we are thrilled with the multi-platform success that we have seen from the Pat McAfee Show across ESPN. The New York Post previously reported that McAfee has paid Rodgers "millions" to appear on his show.
Persons: Pat McAfee, Norby Williamson, Stephen A . Smith, McAfee, Williamson, Andrew Marchand, Marchand, I'm, Jemele Hill, There's, Aaron Rodgers, Rodgers, Jimmy Kimmel, Jeffrey Epstein, Kimmel, tweeting Rodgers, Aaron, Mike Foss, Achilles, Rodgers didn't Organizations: NFL, Phoenix Convention Center, ESPN, The New York Post, McAfee, New York Post, New York Jets, Disney, ABC, Front Office Sports, Super Bowl, Jets, Green Bay Packers Locations: PHOENIX , ARIZONA, Phoenix , Arizona, New
Jets QB Aaron Rodgers has sparked a controversy with his latest quip about comedian Jimmy Kimmel. AdvertisementESPN is grappling with a wave of backlash after Jets quarterback Aaron Rodgers made a bizarre and unfounded quip about comedian Jimmy Kimmel being linked to disgraced financier Jeffrey Epstein. Kimmel, who is one Disney's biggest names as the host of "Jimmy Kimmel Live! Advertisement"There's a lot of people, including Jimmy Kimmel, really hoping that doesn't come out," Rodgers said." "I can see exactly why Jimmy Kimmel felt the way he felt, especially with his position.
Persons: Aaron Rodgers, Jimmy Kimmel, Rodgers, Kimmel, Jeffrey Epstein's, , Jeffrey Epstein, Pat McAfee's, I've, Epstein, doesn't, Anthony Fauci, Joe Biden's, Travis Kelce, McAfee, Aaron, Pat McAfee, Aaron Rodgers pic.twitter.com, @ESPN, Julie K, Brown, Mike D, Sykes, Perez mused, Bob Iger Organizations: Jets, Service, ESPN, Chiefs, NFL, Disney, Front, York Post
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