We recently published that ESPN, a sports channel operated by The Walt Disney Company, could reach the growing US sports betting market. In this regard, we must emphasize that the company works hard in strategic partnerships while it has determined that its ESPN brand would be strengthened without negative impacts on Disney's image.
During the presentation of the financial results for the third quarter of 2021, Bob Chapek, CEO of The Walt Disney Company, stated that “We're also moving towards a greater presence in online sports betting, and given our reach and scale, we have the potential to partner with third-parties in this space in a very meaningful way. "
It should be noted that while global earnings have been below expectations, streaming service ESPN + increased subscribers by 66% and 90% of the most viewed broadcasts on Disney-owned television networks were sporting events.
Chapek has expressed that sports betting is an opportunity to attract a younger audience and ESPN is a perfect platform for this.
Also, when referring to the image of the Disney brand, he emphasizes that the entry into the sports betting market strengthens the ESPN brand “and it has no impact on the Disney brand. Therefore, to go after that demographic opportunity plus the, of course, not insignificant revenue implications, that is something that we're keenly interested in and are pursuing aggressively. "
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