Disney CEO Bob Iger described the upcoming streaming service as a “major win for sports fans,” adding it is an important step forward in the media business.
“This means the full suite of ESPN channels will be available to consumers alongside the sports programming of other industry leaders as part of a differentiated sports-centric service,” Iger said in a statement. “I’m grateful to Jimmy Pitaro and the team at ESPN, who are at the forefront of innovating on behalf of consumers to create new offerings with more choice and greater value.”
Each of the companies, Fox, ESPN and WBD, will own one-third of the service, have equal board representation and license sports content to the joint venture on a non-exclusive basis. The service will also have its own independent management team.
“We’re pumped to bring the Fox Sports portfolio to this new and exciting platform,” Fox CEO and executive chair Lachlan Murdoch said in a statement. “We believe the service will provide passionate fans outside of the traditional bundle an array of amazing sports content all in one place.”
It’s also the first time Fox’s live sports will be available on a streaming service owned by the company, without requiring a cable login.
The service is designed to appeal to sports fans who have abandoned cable and includes rights to major leagues like the NFL, NBA, WNBA, MLB, NHL, UFC, Formula 1, NASCAR, three of the four grand slam tennis events, the PGA Tour, the FIFA World Cup, NWSL and MLS—and major college events across conferences, including the NCAA Men’s and Women’s basketball tournaments and the College Football Playoff.
“At WBD, our ambition is always to connect our leading content and brands with as many viewers as possible, and this exciting joint venture and the unparalleled combination of marquee sports rights and access to the greatest sporting events in the world allows us to do just that,” David Zaslav, CEO of WBD, said in a statement. “This new sports service exemplifies our ability as an industry to drive innovation and provide consumers with more choice, enjoyment and value and we’re thrilled to deliver it to sports fans.”
More announcements to come?
Paramount and NBCUniversal are notably absent from the new streaming service, which Krim thinks will have major ramifications moving forward.
“I would not be surprised to see them join later,” said Krim. “I’m a bit surprised that they’re not in it in this initial announcement.”
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