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Home News

ESPN’s Financial Performance

by Administrator Forexezy
October 19, 2023
in News
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Illustration of a graph showing decreasing percentage

Illustration of a graph showing decreasing percentage

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In a recent update, Walt Disney Co. unveiled ESPN’s financials, which have been a source of curiosity for many investors. The disclosed figures came as a “relief” to some analysts.

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Revenue Growth

During the nine-month period that ended on July 1, ESPN generated a total revenue of $12.6 billion, showing an increase from the $12.3 billion recorded in the previous year. This growth indicates a positive trend for the business.

Operating Income

Despite a slight dip in operating income- $1.9 billion compared to the previous year’s $2.1 billion- ESPN’s financials remain strong. These figures reflect the performance of eight domestic ESPN-branded television channels, ESPN on ABC, the ESPN+ streaming service, and ESPN-branded international channels.

The Larger Picture

ESPN falls under the sports segment in Disney’s latest financial report. Including Star-branded sports networks in India, the sports segment earned a total revenue of $13.2 billion for the same nine-month period. This is only slightly lower than the $13.4 billion generated in the previous year.

Operating income for the sports segment amounted to $1.5 billion, showing a slight decline from the previous year’s $1.8 billion.

Stability and Future Prospects

Wells Fargo analyst Steven Cahall expressed optimism about ESPN’s top-line growth, stating that it appears more durable than anticipated. Cahall also highlighted that excluding Star, the sports business is not experiencing a significant decline. This financial update gives hope that ESPN’s main business is not collapsing despite challenges in the industry.

Disney CEO Bob Iger has been actively exploring alternative strategies for traditional TV assets, and he mentioned the possibility of finding a strategic partner for ESPN.

Overall, while there are hurdles to overcome, such as the transition from linear television to streaming and rising rights fees, Disney’s recent financial disclosures provide some reassurance about ESPN’s stability.

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