In the latest saga of questionable choices made by Bob Chapek, we now may add sports betting to that category. Chapek is hoping to bring Disney into the sports betting arena in order to attract a younger audience and to create new revenue.
ESPN
Since Disney owns the popular sports network ESPN, Chapek is hoping this will help ease the company into the transition. During the recent fourth quarter earnings call, he said that Disney should “consider getting into gambling in a bigger way and ESPN is a perfect platform for this”. ESPN is allegedly looking into brand licensing deals with popular sports betting companies like DraftKings and Caesars Entertainment.
What about the Disney brand?
Chapek is said to not be worried about ruining the Disney brand. He says that Disney is “moving towards a great presence in online sports betting” and given Disney’s reach and scale, he believes that Disney will be able to partner with other sports betting companies in a meaningful way. Chapek believes that sports betting “strengthens the brand of ESPN when you have a betting component, and it has no impact on the Disney brand.” He added that the company is extensively researching this to make sure it is done in the best way.
Bright Future?
ESPN + is said to have increased subscribers by 66% over this last fiscal year. 90% of the most watched broadcasts on Disney owned TV networks last year were sports events. It is also said that Disney has signed a 10-year NFL rights deal that will begin in 2023. Chapek believes that subscribers and fans alike are interested in entering the sports betting market as well therefore making this seem that it will be very successful. What do you think about this news? Should Disney get involved in gambling and sports betting?
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