Long known as the 'Worldwide Leader in Sports,' ESPN is grappling with cord-cutting, rising rights fees and skepticism from Wall Street.
ESPN has long been called “The Worldwide Leader in Sports,” and for decades no network had it better in the cable business.
But the TV game has changed over the last decade — and now Disney is scrambling to come up with a new playbook. It’s not just cord-cutting. Young fans now turn to YouTube and other sites for sports highlights, makingless of a must-see, and the network is more dependent than ever on exclusive live events, which are increasingly expensive as deep-pocketed tech giants such as Amazon, Apple and Google chase after them for their streaming businesses.
Meanwhile, Disney is looking at ways to mitigate rising programming costs for ESPN. Walt Disney Co. Chief Executive Bob Iger said he would consider taking on a partner in ESPN to help ease the burden and has tapped former top Disney executivesBut executives inside the network maintain that they can navigate the shifting tides of the business.
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