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ESPN continues to drag down Disney's results
Posted on 2/8/17 at 2:11 pm
Posted on 2/8/17 at 2:11 pm
LINK
quote:
Rising costs and declining viewership at ESPN once again dragged down quarterly results for Walt Disney Co., whose chief executive, Bob Iger, gave his first public signal he may stay beyond his planned retirement in 2018.
Despite Mr. Iger's best efforts to focus investor attention on Disney's film studio, which had three hits last quarter, most questions on a conference call with analysts on Tuesday once again targeted ESPN's struggles and the pending launch of a digital, direct-to-consumer sports video offering.
Disney's total revenue fell 3% in the quarter ended Dec. 31 to $14.8 billion, while profit dropped 14% to $2.5 billion. The declines were largely expected because results for the company's studio and consumer-products businesses were matched against a year-earlier quarter that benefited from December 2015's $2 billion blockbuster "Star Wars: The Force Awakens."
ESPN continued to struggle with long-running problems. The sports giant lost subscribers, and average viewership and advertising rates were both down, due in part to fewer college football playoff games in 2016. Programming costs grew, meanwhile, because of an expensive new deal with the National Basketball Association.
ESPN was entirely to blame for an 11% drop in the company's cable operating income to $864 million. Other cable networks were flat.
In response to questions about ESPN, Mr. Iger spoke extensively about work the network is doing with the streaming company BAMTech, in which Disney invested $1 billion for a 33% stake, to create a direct-to-consumer sports service. It is targeted to launch by the end of 2017, the CEO said, and will include a variety of content not on the linear network, including baseball.
Mr. Iger also noted that ESPN has gained some subscribers from growth in so-called skinny bundles that include it in slimmer, less expensive pay-television packages. In addition to offerings from Sony Corp., AT&T Inc.'s DirecTV, Dish Network Corp. and Hulu, Mr. Iger said Disney recently signed another deal it has yet to announce.
The deal is with Alphabet Inc.'s YouTube, according to people familiar with the matter, for a bundle that will include ESPN, ABC and other Disney networks in a service expected to launch later this year. An Alphabet spokesman didn't respond to requests for comment.
"We don't believe we need to make any acquisitions to accomplish what we need to do on the digital side," Mr. Iger added. "The best approach...is to have great content and tell great stories."
Posted on 2/8/17 at 2:12 pm to BeYou
That's what they get for being lib prog cucks!!!
Posted on 2/8/17 at 2:14 pm to BeYou
ESPN is a big fat mistake...
And by that I mean the direction they've gone with their content and commentators.
And by that I mean the direction they've gone with their content and commentators.
Posted on 2/8/17 at 2:14 pm to BeYou
How do we solve this guys?
I know, let's get MORE political and center our flagship show around Jemele Hill.
GREAT CALL!
I know, let's get MORE political and center our flagship show around Jemele Hill.
GREAT CALL!
Posted on 2/8/17 at 2:16 pm to Fun Bunch
quote:
I know, let's get MORE political and center our flagship show around Jemele Hill.
Whoever made this call is a flat out moron and that's the best way I know to say it nicely.
Posted on 2/8/17 at 2:18 pm to BeYou
Will continue to get worse with more cord cutting
Posted on 2/8/17 at 2:18 pm to bwallcubfan
Chomsky and Maddow will probably host a Sportscenter at some point
Posted on 2/8/17 at 2:19 pm to Fun Bunch
quote:
How do we solve this guys?
I know, let's get MORE political and center our flagship show around Jemele Hill.
GREAT CALL!
Posted on 2/8/17 at 2:21 pm to BeYou
is this where I come to blame the Liberal Media?
Posted on 2/8/17 at 2:22 pm to BeYou
Cable television in general is such a joke. If I could stream Astros games without having to go through a bunch of sketchball Chinese sites I would cut the cord in a second.
Posted on 2/8/17 at 2:22 pm to BeYou
Wait, when was the rule changed to we could have 2 I hate ESPN threads in a day?
Posted on 2/8/17 at 2:23 pm to jlnoles79
Maybe the whole industry will collapse and we can go back to normal college conferences with teams that make since instead of whoring out for tv contracts
Posted on 2/8/17 at 2:25 pm to LG2BAMA
quote:So Alabama & Tennessee will be in the same conference and stop holding entire conference hostage for a "rivalry" that is so important. I'm fully for the implosion of Sports Entertainment if this takes place.
Maybe the whole industry will collapse and we can go back to normal college conferences with teams that make since instead of whoring out for tv contracts
Posted on 2/8/17 at 2:26 pm to JBeam
I liked SEC basketball on Raycom more than espn. Hammond and Conley were great
Posted on 2/8/17 at 2:26 pm to Fun Bunch
quote:
I know, let's get MORE political and center our flagship show around Jemele Hill.
They're stuck with her. If they fire her then it's discrimination.
Posted on 2/8/17 at 2:27 pm to ShaneTheLegLechler
Not sure if anyone else has noticed, but they've cut ESPNU from a lot of cable packages.
I've had it the entire time I've had cable and they recently shut it out completely off mine, my brother's, and my best friends. We're all on 3 different companies.
I've had it the entire time I've had cable and they recently shut it out completely off mine, my brother's, and my best friends. We're all on 3 different companies.
Posted on 2/8/17 at 2:31 pm to The Pirate King
AT&T keeps trying to get me to switch to DirecTV as well since they are doing away with U-verse. Pretty much since I got out of college I have shuffled between cable companies as soon as the promo periods expire.
The total lack of transparency and deception in what you pay and what your bill is in that service is insane
The total lack of transparency and deception in what you pay and what your bill is in that service is insane
Posted on 2/8/17 at 2:33 pm to ShaneTheLegLechler
Why not just use the WatchESPN app if you really want to see ESPNU?
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