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The backstory: You know how cable TV used to be the go-to for watching your favorite shows and movies? Well, over time, things have been shifting. More and more people are saying goodbye to cable and embracing streaming services like Netflix. Why? Because streaming is super convenient, offering a wide range of entertainment options at your fingertips. Plus, streaming lets you watch whatever you want, whenever you want, as long as you've got an internet connection.
Netflix, in particular, has been leading the charge with millions of subscribers worldwide. Other companies like Warner Bros. Discovery and Paramount have been trying to keep up by launching their own streaming platforms, but none have achieved the same level of success as Netflix.
More recently: Streaming services have also been making big strides in the sports arena. For example, Warner Bros. Discovery's Max started offering live sports last year for about US$10 a month. Meanwhile, Prime Video and Apple TV+ have also entered the sports streaming market. Amazon secured the rights to Thursday Night Football, while Apple offers a Major League Soccer pass.
The development: Disney, Fox and Warner Bros. Discovery are now teaming up to create a new streaming platform exclusively for sports. This platform aims to provide a one-stop-shop for all sports lovers' needs, from NFL games to NBA matchups to UFC fights. They haven't revealed all the details yet, like the price or the name, but that info should be coming soon.
Their main goal with this new service is to take all the sports content each company has and bundle it up in one platform designed for fans, particularly those who've moved away from traditional cable. This new platform will operate independently, with its own team calling the shots. It'll also integrate with existing platforms like Disney+, Hulu and Max.
Each company will have an equal share in this new venture. Top executives from all three have said they're excited about this collaboration. Disney CEO Bob Iger has described it as a game-changer for sports fans and the media industry.
"The launch of this new streaming sports service is a significant moment for Disney and ESPN, a major win for sports fans, and an important step forward for the media business," said Disney CEO Bob Iger. "This means the full suite of ESPN channels will be available to consumers alongside the sports programming of other industry leaders as part of a differentiated sports-centric service."
"We believe the service will provide passionate fans outside of the traditional bundle an array of amazing sports content all in one place," said Fox CEO Lachlan Murdoch.
"This new sports service exemplifies our ability as an industry to drive innovation and provide consumers with more choice, enjoyment and value," said Warner Bros. Discovery CEO David Zaslav in a statement.