ESPN’s operating income and revenue should come as a giant relief to investors.
Disney broke out ESPN's quarterly results for the first time on Wednesday.Disney plans to make ESPN available as a direct-to-consumer service no later than 2025, CEO Bob Iger said.— the first time Disney has ever broken out the sports division's finances. Revenue in the segment grew 1% year-over-year to $3.8 billion.
While Disney's other linear network revenue fell 9%, ESPN's gains in both operating income and revenue suggest the business isn't foundering — even as sports rights makes up 40% of Disney's overall content spend. That should come as a giant relief for investors.that"linear TV and satellite is marching towards a great precipice and it will be pushed off," declaring that traditional TV will eventually die off completely.
None of this erases ESPN's existential crisis of surviving in a streaming-first world rather than the cable bundle. But it does suggest that ESPN isn't as much in crisis mode as some investors have may feared.
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