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Here's the full story on ESPN and what's going on...they just released their financials
Posted on 10/20/23 at 1:28 pm
Posted on 10/20/23 at 1:28 pm
ESPN has released its financials for the first time ever.
• $16 billion in annual revenue
• $2.9 billion in annual profit
Even crazier, ESPN drives more annual profit for Disney than the company's entire entertainment division.
But not everything is perfect.
Here's what you need to know ??
Disney CEO Bob Iger announced earlier this year that the company is changing how it reports quarterly financials.
There will now be three categories:
1. Experiences (Parks & Products)
2. Entertainment (Streaming, TV, Movies, Etc.)
3. Sports (ESPN)
This is the first time that we've gotten a peak behind the curtain into ESPN's financial results.
Here are the highlights:
1. ESPN is a major cash cow for Disney
ESPN delivered $16 billion in revenue in fiscal 2022 and had profits of $2.9 billion.
That's significantly less revenue than Disney's entertainment division (Streaming, TV Networks, Movie Studios, etc.) at $39.6 billion.
Disney's Annual Revenue
• ESPN: $16 billion
• Streaming/TV/Movies/Etc.: $39.6 billion
But ESPN has better margins and still brought in more annual profit than the entire entertainment division.
Disney's Annual Profits
• ESPN: $2.9 billion
• Streaming/TV/Movies/Etc.: $2.1 billion
The majority of ESPN's revenue comes from the affiliate fees that cable companies pay to distribute ESPN ($10.1 billion), with a smaller amount of ESPN's annual revenue coming from advertising ($4.4 billion).
But that is changing as we speak....
2. ESPN's financials are headed south
It's true that ESPN is far from being the failure many people like to claim it to be — but it's also true that the business is not as good as it once was.
For example, we've gone from 100 million pay-TV households in the United States to about 70 million over the last decade.
Add in the fact that sports rights keep getting more expensive because it's the last thing holding the cable bundle together, and it's no surprise that ESPN has seen its revenues drop 35% over the first nine months of 2023.
That's why ESPN has been pushing people to ESPN+.
The streaming service currently has 25 million subscribers, which sounds great.
But ESPN+ lost subscribers for the first time ever last quarter, and many people are only signing up because it's included as part of a package deal with Disney+ and Hulu.
So, while ESPN is still a cash cow for Disney today ($2.9 billion in annual profit!!), the future looks less promising than it once did.
That's why ESPN has been cutting jobs and is now reportedly looking to partner with companies like Apple or Amazon to increase distribution.
-- Joe Pompliano on Twitter
• $16 billion in annual revenue
• $2.9 billion in annual profit
Even crazier, ESPN drives more annual profit for Disney than the company's entire entertainment division.
But not everything is perfect.
Here's what you need to know ??
Disney CEO Bob Iger announced earlier this year that the company is changing how it reports quarterly financials.
There will now be three categories:
1. Experiences (Parks & Products)
2. Entertainment (Streaming, TV, Movies, Etc.)
3. Sports (ESPN)
This is the first time that we've gotten a peak behind the curtain into ESPN's financial results.
Here are the highlights:
1. ESPN is a major cash cow for Disney
ESPN delivered $16 billion in revenue in fiscal 2022 and had profits of $2.9 billion.
That's significantly less revenue than Disney's entertainment division (Streaming, TV Networks, Movie Studios, etc.) at $39.6 billion.
Disney's Annual Revenue
• ESPN: $16 billion
• Streaming/TV/Movies/Etc.: $39.6 billion
But ESPN has better margins and still brought in more annual profit than the entire entertainment division.
Disney's Annual Profits
• ESPN: $2.9 billion
• Streaming/TV/Movies/Etc.: $2.1 billion
The majority of ESPN's revenue comes from the affiliate fees that cable companies pay to distribute ESPN ($10.1 billion), with a smaller amount of ESPN's annual revenue coming from advertising ($4.4 billion).
But that is changing as we speak....
2. ESPN's financials are headed south
It's true that ESPN is far from being the failure many people like to claim it to be — but it's also true that the business is not as good as it once was.
For example, we've gone from 100 million pay-TV households in the United States to about 70 million over the last decade.
Add in the fact that sports rights keep getting more expensive because it's the last thing holding the cable bundle together, and it's no surprise that ESPN has seen its revenues drop 35% over the first nine months of 2023.
That's why ESPN has been pushing people to ESPN+.
The streaming service currently has 25 million subscribers, which sounds great.
But ESPN+ lost subscribers for the first time ever last quarter, and many people are only signing up because it's included as part of a package deal with Disney+ and Hulu.
So, while ESPN is still a cash cow for Disney today ($2.9 billion in annual profit!!), the future looks less promising than it once did.
That's why ESPN has been cutting jobs and is now reportedly looking to partner with companies like Apple or Amazon to increase distribution.
-- Joe Pompliano on Twitter
9
Posted on 10/20/23 at 1:33 pm to JetDawg
Looks like they didn't need to fire all of those white dudes for financial reasons.
Posted on 10/20/23 at 1:34 pm to JetDawg
Cooking Financials to get bezos to buy it.
Posted on 10/20/23 at 1:38 pm to JetDawg
Before ESPN+ the only reason I kept Dish was to watch sports. But now with ESPN+ I still have to keep Dish because I need my tv provider sign in to use it.
My local internet supplier Franklin Telephone wont work to run ESPN+
If they’d do away with that crap and make it where you could pay for the streaming app without needing TV or internet provider sign in they’d get more users imo
My local internet supplier Franklin Telephone wont work to run ESPN+
If they’d do away with that crap and make it where you could pay for the streaming app without needing TV or internet provider sign in they’d get more users imo
Posted on 10/20/23 at 1:41 pm to deltaland
quote:
If they’d do away with that crap and make it where you could pay for the streaming app without needing TV or internet provider sign in they’d get more users imo
They get $10B per year by forcing the TV provider.
You are going to have to make a pretty significant argument to convince them otherwise.
Posted on 10/20/23 at 1:44 pm to JetDawg
Is the bidding open yet?
Posted on 10/20/23 at 1:47 pm to White Raj
quote:
Looks like they didn't need to fire all of those white dudes for financial reasons.
Of course not. They're willing to lose money to win the culture war.
They don't want White men to have any cultural relevancy whatsoever.
Posted on 10/20/23 at 2:03 pm to CrimsonBuddha
Most CFball announcers are men and a majority of those men are white.
Posted on 10/20/23 at 2:05 pm to JetDawg
frick ESPN.
Posted on 10/20/23 at 2:06 pm to GeorgeWest
quote:
Most CFball announcers are men and a majority of those men are white.
That's your argument? Bruh
Posted on 10/20/23 at 2:10 pm to GeorgeWest
quote:
Most CFball announcers are men and a majority of those men are white.
They're trying to phase them out as much as possible. Many announcers are black now.
You do realize that there are 5 times more white than black people in America right? I know if you watch TV it doesn't seem that way, but if all were equal you'd see 5 times more White guys on TV than black.
Adjusting for people with college degrees, there should be many more than 5 times as many white people in media settings.
Posted on 10/20/23 at 2:12 pm to CrimsonBuddha
BuT cNn SaId
Posted on 10/20/23 at 2:20 pm to JetDawg
Didn't expect this topic to veer where it has gone 
Posted on 10/20/23 at 2:38 pm to GeorgeWest
quote:
Most CFball announcers are men and a majority of those men are white.
Beth Mowins is White? Huh...
Posted on 10/20/23 at 3:23 pm to deltaland
quote:
with ESPN+ I still have to keep Dish because I need my tv provider sign in
For clarity, you can still access ESPN+ programming, just not content on the "regular" ESPN without a sign-in, correct?
If you're wanting to do away with Dish, can you get the cheapest streaming package that carries ESPN and use that sign-in instead, like maybe Sling Orange for $40/month? Or is your Dish package already cheaper than that?
Posted on 10/20/23 at 3:48 pm to CrimsonBuddha
quote:
Adjusting for people with college degrees, there should be many more than 5 times as many white people in media settings.
But, In SPORTS media settings, the analysts/hosts/anchors would be mostly ex-players, from sports with an overwhelming majority of black players.
Coverage of Football and basketball far outweighs coverage of golf, hockey, tennis — so seems odd not to have more black anchors/anslysts/hosts than we already have on ESPN.
Now ….. if you’re saying ESPN should skew coverage away from football and basketball, towards hockey—I could get behind that. I like hockey, you like white anchors, we’d both be happy.
Or …. We could just quit dragging race into every damn thing we talk about in this country.
Posted on 10/20/23 at 4:29 pm to CrimsonBuddha
quote:
They're trying to phase them out as much as possible.
I can't wait to see the first gay black drag queen call a game.
Posted on 10/20/23 at 5:07 pm to JetDawg
Call me old-fashioned, I am old.
I’m done with paying cable and expensive streaming services like Sling Orange to watch the Dawgs.
I’ve got a radio app- I really enjoy it actually because I remember having to listen to Dawgs games on the radio.
Big games are on CBS, I get those over the air. The others I listen on the radio. It’s nostalgic for me personally.
I’m done with paying cable and expensive streaming services like Sling Orange to watch the Dawgs.
I’ve got a radio app- I really enjoy it actually because I remember having to listen to Dawgs games on the radio.
Big games are on CBS, I get those over the air. The others I listen on the radio. It’s nostalgic for me personally.
Posted on 10/20/23 at 5:19 pm to Tejada
quote:
I can't wait to see the first gay black drag queen call a game.
Cam Newton is free and entered the chat...
Posted on 10/20/23 at 5:21 pm to five_fivesix
quote:
Is the bidding open yet?
Bidding starts at Tree Fiddy in BawCoin
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