In a groundbreaking development for online television, three of the largest media corporations are joining forces to establish a collaborative venture that will grant access to a wide range of professional sports leagues.
Disney’s ESPN (currently holding the rights to UFC events and content in the United States until 2025), Fox Corp.’s Fox Sports, and Warner Bros. Discovery’s TNT, TBS, and other networks will collectively offer a comprehensive package later this year, encompassing NFL, NBA, MLB, and NHL games.
Each company will possess an equal one-third stake in the service, which is yet to be named, and lacks specific pricing information and a definitive launch date. Finalizing agreements is still necessary, but this move acknowledges the ongoing fragmentation of cable bundles as more consumers gravitate towards streaming platforms.
Sports has long been a cornerstone of the cable TV industry, which has experienced a decline of over 25 percent in its subscriber base over recent years.
“The introduction of this novel streaming sports service marks a significant milestone for Disney and ESPN, a major triumph for sports enthusiasts, and a crucial advancement for the media sector,” stated Disney CEO Bob Iger. Disney has been considering plans to establish a standalone ESPN streaming service (as the current ESPN+ lacks rights to major sports), and this new agreement does not appear to hinder its future implementation.