ESPN drives more annual profit for Disney than the entirety of Disney's entertainment business, a new filing shows.
Share on email to help ESPN manage its transition into the streaming era. The network's high profit margins may help explain why Disney isn't looking to sell the asset completely.ESPN delivered more than $16 billion for Disney's fiscal year 2022 and $2.9 billion in profit. The vast majority of that income came from its domestic business.
By comparison, Disney's entertainment business, which includes its streaming services, linear TV networks and TV and movie studios, $39.6 billion in revenue and $2.1 billion in profit during that same time period.: The data shows just how much ESPN's business is reliant on carriage fees from cable TV providers over advertising.
ESPN makes up most of the revenue within Disney's "Sports" segment. Within that segment during Disney's fiscal year 2022, the majority of revenue came from affiliate fees that cable programmers pay to distribute ESPN versus advertising and subscriptions and other forms of income . Carriage fees are becoming tougher for TV networks to negotiate as cord cutting accelerates, as was made evident by aAs part of those changes, Disney said it would divide the company into three parts: entertainment , sports and experiences .
The new structure, Iger noted, would return greater authority to the company's creative leaders and would make "them accountable to how their content performs financially.": The data also shows how much Disney's streaming efforts have eaten into the profit margins of its entertainment business.Share on twitter
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