Iger sees the ESPN OTT product as having the advantage of access to betting


Published on: April 7, 2024 at 03:00 pm.

Last updated on: April 7, 2024 at 12:52 h.

Walt Disney (NYSE: DIS) Bob Iger sees plans for a revamp espn The app including access to sports betting.

Sports betting at disney
Disney CEO Bob Iger. He sees a revamped ESPN network featuring access to sports betting. (Photo: Getty Images)

He made these comments in a recent interview CNBC David Faber. Iger did not directly mention ESPN Bet — the network’s sports betting partnership with Penn Entertainment (NASDAQ: PENN). The casino operator runs the application using espn Trademarks.

espn The upper portion will have multiple features. There will be fantasy sports. “There will be an opportunity to bet on sports basically directly from the app,” Iger said on the app. “There will be significantly more opportunities for consumer engagement.”

“Over-the-top” refers to traditionalism espn Product, including cable network and mobile application. Iger has featured it from a planned joint venture between the network, FOX and Warner Bros. Discovery, which will aggregate a large number of sports content into one streaming platform.

The joint venture may be ready for sports betting as well

Iger pointed out that what customers will get with “Al-Raed” espn The premium product, including direct access to sports betting, will differ from the network’s contribution to the joint venture.

The Disney CEO did not comment on whether or how sports betting could be implemented in partnership with other companies. It will be a practical move because this streaming service will bring together college sports, Major League Baseball, NASCAR, NBA, NFL, NHL, and more.

It will be available on a variety of networks, including ESPN+, ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ABC, FOX, FS1, FS2, BTN, TNT, TBS, and truTV.

Making sports betting part of a streaming platform could create conflicts due to Disney’s relationship with Penn and FOX’s ability to ultimately own more than 18% of FanDuel. There were also rumors that Warner Bros. TBS, TNT And truTV It could expand further into sports betting in the coming years.

ESPN’s practical platform for sports betting relationships

Iger said earlier espn We will not be in the business of accepting sports bets directly. But there are ways the network can expand its already significant exposure to sports betting, including ESPN Bet’s partnership with Penn.

It’s one that, while still in its infancy, seems to be paying off for both sides. So far, ESPN Bet has outperformed Barstool Sportsbook – Penn’s previous sports betting app. Likewise, Disney has a significant financial stake in the casino operator, which contributes to ESPN Bet’s success.

Ben pays espn $1.5 billion over 10 years to use the ESPN Bet brand for that period with an option for another 10 years at the end of the initial term. The gaming company also granted the sports network $500 million in stock warrants vesting over 10 years.

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