ESPN’S parent company expects to offer the network as a standalone streaming option in the fall of 2025, according to Walt Disney CEO, Bob Iger.
ESPN will remain a promoter of ESPN BEet, an online sportsbook using its name. The sportsbook is part of a 10-year, $1.5 billion partnership with Penn Entertainment Inc.
“Not only will consumers be able to stream their favorite live games and studio programming, but they’ll also have access to engaging digital integrations like ESPN Bet and fantasy sports, e‐commerce features, and a deep array of sports stats, all of which we know will be incredibly compelling to younger sports fans in particular,” Iger said during Disney’s quarterly call for analysts and investors, according to a transcript. “It will also have very robust personalization features.”
ESPN will help promote the bookmaker throughout its empire by using odds and embedding connections to ESPN Bet, according to Covers. The site debuted in November in 17 states.
ESPN Bet and Fanatics Sportsbook are two newcomers considered as challengers to DraftKings and FanDuel as king of the sports betting hill. ESPN depends on its name in sports as a selling point, while Fanatics believes its expansive sports merc business gives them a push.
JMP Securities informed clients ESPN Bet attracted 9 percent of all wagering in the states it functioned in December. Promotions as a percentage of ESPN Bet’s handle were 11 percent, in line with projections.
“Its ability to maintain market share within the expected promotional range should be viewed as positive for shares in the near term, in our view,” analyst Jordan Bender wrote. “The heavy investment spending will start to taper off in mid-2024 as it relies on its product offering to retain loyal players.”
“ESPN has long prioritized its desire and ability to serve sports fans wherever they are, and these steps will strengthen ESPN’s ability to deliver on that promise, “ Iger said. “And as you know, we’ve also engaged in productive conversations with potential content and marketing partners for ESPN. We’ve made progress toward securing deals, and we expect to have more to share with you in the near future.”
