Eye on the ball

22 December 2020 By Jennifer Saba Follow @jennifersaba

The $300 bln company is shifting its focus to Disney+. The sports network is still valuable but high programming costs from franchises like the NFL and declining subscribers due to cord cutting are looming problems. An ESPN spinoff is the way boss Bob Chapek can make his mark.

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Walt Disney raised its subscriber outlook for Disney+ on Dec. 10 during a presentation for investors. The company expects the streaming service to have 230 million to 260 million paid customers by the end of its fiscal year 2024 compared to a previous forecast of 60 million to 90 million subscribers.

ESPN+ is expected to have 20 million to 30 million subscribers in the same time period. As of Dec. 2, ESPN+ has 12 million subscribers.

The sports network said on the same day it signed a 10-year agreement with the Southeastern Conference to air college football games beginning with the 2024 season. The deal will bring select SEC games to ESPN+ starting in 2021.

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