Major US media companies unveil a fresh sports streaming platform

Three major US media companies, ESPN, Fox Corp, and Warner Bros. Discovery, have announced the upcoming launch of a new sports streaming platform in the autumn. This joint venture aims to appeal to younger audiences while also reducing costs. The platform will introduce a fresh brand with an independent management team, accessible through a dedicated app. The pricing details will be disclosed at a later stage. Under this partnership, each company will hold an equal one-third stake and have equal representation on the board. With sports leagues demanding higher fees for broadcasting rights, the industry has seen a shift towards splitting the costs among multiple media distributors instead of relying solely on linear TV operators. The new streaming service will merge sports linear networks with Disney's direct-to-consumer ESPN+ platform. It aims to cater to sports fans, especially those outside the traditional pay TV package. Subscribers will have the option to bundle the product with Disney's streaming platforms, Disney+, Hulu, and Max. Key executives from Walt Disney, Fox, and Warner Bros. Discovery have expressed enthusiasm for the launch, highlighting the convenient consolidation of diverse sports content on a single platform. This move by traditional media companies is a response to the growing popularity of streaming services like Netflix, Amazon Video, and Apple TV, which have gained significant traction in recent years.