KANSAS CITY, Missouri – Three major media companies have announced plans to launch a new sports streaming platform in the fall. Walt Disney’s ESPN, Fox Corp, and Warner Bros. Discovery are joining forces to create a service that will feature a wide range of sports rights, including those for the FIFA World Cup, Formula 1, NFL, NBA, and Major League Baseball.
The goal of this new platform is to attract younger audiences while also cutting costs. The companies plan to introduce a new brand with its own independent management team, accessible through a dedicated app. The pricing details for the service will be disclosed at a later date.
Each company involved in the collaboration will have an equal share of ownership in the joint venture and equal representation on the board. The decision to create this platform comes at a time when sports leagues are demanding higher fees for broadcasting rights, with multiple media distributors now sharing these costs instead of relying solely on linear TV operators.
The new streaming service will bring together Disney’s direct-to-consumer ESPN+ and sports linear networks. The companies aim to cater to sports fans, particularly those who are not subscribed to traditional pay TV bundles. Subscribers will also have the option to bundle this new offering with existing streaming platforms like Disney+, Hulu, and Max.
Executives from the partnering companies expressed their excitement about the venture. Bob Iger, CEO of Walt Disney, described it as “a major win for sports fans, and an important step forward for the media business.” Lachlan Murdoch, the head of Fox, emphasized the convenience of having “an array of amazing sports content all in one place.” Meanwhile, David Zaslav, CEO of Warner Bros. Discovery, highlighted how the new platform exemplifies innovation and provides consumers with more choice and enjoyment.
The rise of streaming services has presented traditional media companies with the challenge of adapting to the changing landscape and competing with giants like Netflix, Amazon Video, and Apple TV. This collaboration reflects their commitment to staying relevant and meeting the evolving needs of sports fans.