When most people think about Disney, they envision the magical theme parks and hundreds of children’s movies and television shows. They forget that Disney owns other entertainment companies like Marvel, National Geographic, Lucasfilms, and every sports fan favorite: ESPN.
Disney CEO Bob Chapek says the $203.6 billion company has had conversations about bringing sports betting to ESPN. Disney has noticed how the online sports betting industry has grown and is interested in adding it to its diverse list of business ventures. In a recent Q3 Disney Earnings call, Mr. Chapek spoke about the idea:
“We think sports betting is important. We’re working hard on it, and we hope to have something to announce in the future in terms of a partnership there that will allow us to access that revenue stream and also make sure that our guests are being – having their needs met.”
Disney Wants to Cater Towards 30 & Under Sports Fans
Disney has remained one of the most successful companies for decades because of its ability to recognize and implement trends into its business strategy. Sports betting has become a billion-dollar industry in the US, and Disney noticed. The company realizes how popular sports betting has become since its legalization in 2018 when The Supreme Court overturned PASPA. With this decision, states can now decide the rules and regulations for sports betting for their state. States are also allowed to generate tax revenue from the activity. In some states like NY, tax rates reach 50%.
This form of gambling has been especially favored by the younger generations, says CEO Bob Chapek, “We have found that basically our sports fans that are under 30 absolutely require this type of utility in the overall portfolio of what ESPN offers”
ESPN VP of Sports Betting and Fantasy Mike Morrison explains how sports betting can help boost how many people view sports games through the entertainment provider, a win-win for ESPN.
“Industry research supports that a majority of bettors are more likely to watch a game if they have a bet on it. For us, it’s another form of engagement. The betting experience compliments the fan viewing experience by keeping them focused on the game.”
Disney is no amateur when it comes to expanding its company to reach other groups, making it no surprise that it may take on sports betting next.
ESPN had been sports fanatics’ go-to sports network on television since its launch in 1979. The TV network averages 742,000 viewers daily, increasing to 2 million during primetime events. Additionally, its app is ranked the most popular among sports apps, with a reach of 3.4 times larger than the second most popular app.
Sports viewers can enjoy a wide range of sports thanks to the company’s mainstream and sister channels: ESPN on ABC, ESPN2, ESPN3, ESPN+, ESPNews, ESPNU, ESPNW, ESPN Deportes, ESPN College, Extra Longhorn Network, SEC Network, ACC Network, and Big 12 Network.
With the many diverse channels that are now a part of the ESPN Network, fans of all kinds would have the opportunity to place wagers on a variety of sports. This addition of sports betting will provide a new way for adult Disney fans to enjoy the franchise for years to come. For updates about Disney’s ESPN Sportsbook, follow https://playonlinemichigan.com/
Mac Daniel is a South Carolina-based freelance writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit www.playonlinecasinomi.com or www.playonlinesportsbetting.com