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    Why Three Media Giants Are Betting on Sports Streaming

    enFebruary 12, 2024

    Podcast Summary

    • Major media companies join forces to create a new streaming service called Project RaptorMajor media companies collaborate to launch a new streaming service, Project Raptor, in response to declining cable subscribers and revenue, aiming to secure over half of US sports rights and challenge the dominance of existing streaming platforms.

      In the face of declining cable subscribers and revenue, major media companies like ESPN, Fox, and Warner Brothers Discovery are teaming up to create a new streaming service, code-named "Project Raptor," in a bid to pivot to the future of media consumption. This move, which had been kept top secret, is seen as a Hail Mary attempt to prevent being wiped out by the meteor storm of cord-cutting and shifting viewer preferences. The new streaming service, expected to include more than half of US sports rights, could significantly upend sports broadcasting as we know it. For sports fans like us, the age of streaming means more hopscotching between platforms to find the games we want to watch.

    • The end of the sports bundle eraTraditional sports consumption through cable TV is becoming outdated, leading to declining viewership and advertisers for sports networks. The shift towards streaming and a la carte options is putting pressure on networks to adapt.

      The traditional way of consuming sports content through cable TV is becoming increasingly frustrating and outdated, as viewers are forced to navigate multiple channels and platforms to find their favorite games. This system, known as the bundle, has been the norm for decades, but with cord cutting and rising costs, companies like ESPN are facing declining viewership and advertisers. The era of the bundle is coming to an end, and while ESPN has a streaming service, ESPN+, it does not include all of their cable channels. This shift towards streaming and a la carte options is putting pressure on sports networks to adapt and find new ways to reach and retain viewers.

    • ESPN, Fox, and Warner Brothers Discovery Partner for New Sports Streaming ServiceThree major media companies join forces to create a new sports streaming service, combining NFL, MLB, college football, March Madness, NASCAR, hockey, and the NCAA tournament to attract a wider audience.

      Last year, ESPN, Fox, and Warner Brothers Discovery came together to create a new sports streaming service. ESPN's chairman Jimmy Pitaro approached Fox due to their shared ownership and complementary sports offerings, including the NFL, MLB, college football, and March Madness. Fox was also in talks with Warner Brothers Discovery, which brought additional desirable sports content such as NASCAR, hockey, and the NCAA tournament. The three companies have been quietly planning this venture over the past few months. This strategic partnership aims to make their streaming service more appealing to a wider audience by offering a diverse range of sports content.

    • New sports-focused streaming service announced by Discovery, WarnerMedia, and FoxThree media giants join forces to launch a new sports-focused streaming service, featuring ESPN, Turner, Fox, and Fox Sports channels, aiming to provide easy access to live sports for subscribers. The success of this venture is yet to be determined.

      Discovery, WarnerMedia, and Fox are joining forces to launch a new sports-focused streaming service. Each company will own a third stake in the service, which is expected to cost around $50 a month and feature ESPN, Turner, Fox, and Fox Sports channels, among others. The service, which is still being worked out, aims to provide easy access to live sports for subscribers. However, the success of this venture remains to be seen. Meanwhile, in a separate note, the importance of empathy and awareness in the workplace was highlighted in a new podcast episode. The Visibility Gap, presented by Cigna Healthcare, encourages listeners to understand the unseen struggles their coworkers face, such as stress, burnout, and caregiving responsibilities. This understanding can lead to healthier workplaces and better relationships. Additionally, the buzz around artificial intelligence continues to grow, and investors may want to consider the Global X Artificial Intelligence and Technology ETF (AIQ) to keep their portfolios up-to-date with this disruptive technology. As always, it's important to carefully consider the risks and charges before investing. Lastly, the NFL was caught off guard last Tuesday when news of the new streaming service broke during their preparations for the Super Bowl. The impact of this development on the sports industry remains to be seen.

    • New streaming service catches sports leagues off guardThree media companies join forces to launch a new streaming service, potentially disrupting ongoing broadcast rights negotiations with the NFL and NBA, raising antitrust concerns and market dominance issues

      The announcement of the new streaming service, which involves three major media companies, took the sports leagues by surprise. The NFL and NBA were among those caught off guard, potentially impacting ongoing negotiations for future broadcast rights. The companies argue that they will continue to negotiate independently with the leagues, but the leagues are understandably wary of dealing with a "3-headed monster." There are valid concerns about antitrust issues and market dominance, and the leagues will likely push for safeguards to ensure fairness. Ultimately, the lower-priced option for consumers may be a positive outcome, but the process and potential implications require close scrutiny.

    • Disney, Fox, and Warner join forces to disrupt sports streaming marketThree media giants collaborate to launch a sports streaming service, targeting a large audience while acknowledging industry changes

      Disney, Fox, and Warner are teaming up to launch a sports streaming service, potentially disrupting the market and raising concerns from competitors. However, it's important to note that most cord-cutters or non-subscribers are likely light sports fans, and the audience for sports content remains large. The companies may be acknowledging the changing industry landscape and attempting to accelerate the shift with this new venture. This move could have significant implications for the future of sports streaming and the competitive landscape. Despite the potential disruption, it will be interesting to see how this new service impacts the market and whether it can successfully attract and retain subscribers.

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