Disney Sheds New Light on ESPN’s Financial Challenges

[ad_1]

Profits from Disney’s sports segment, home to ESPN, declined 20% in the first nine months of its fiscal year, according to a new filing Wednesday that offers a clearer look at the toll cord-cutting is taking on the business.

Operating income for the newly reported sports segment fell to $1.48 billion in the nine months ended July 1, while revenue declined 1.3% to $13.2 billion. The unit includes ESPN and related channels, Disney’s ESPN+ streaming service and Star-branded sports channels in India.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

[ad_2]

Source link