The new streaming service will provide content from all major leagues|@NBA|X
ESPN, Fox and Warner Bros. Discovery announced a joint sports streaming venture, which would provide content from all major leagues, mainly targeting viewers opting out of expensive cable bundles.
The unnamed service is expected to launch later this year. It would provide sports content held by all these providers directly to consumers for streaming. These networks already have rights to major sporting leagues, including the NFL, MLB, NHL, NBA, and the major college sports divisions.
Each company will own a one-third stake in the joint venture, with plans for a separate management team, branding and pricing.
The new collaboration highlights the accelerating decline of pay-TV, with over 7% annual decline in 2023 compared to under 2% a few years ago, according to MoffettNathanson data.