A new major player will land in the world of sports betting: Disney.
Entertainment Group CEO Bob Chapek said Monday he was "
working very hard
" to design this new service for his ESPN brand.
Between the channel broadcasting sports competitions (football, baseball, basketball etc.) and a sports betting service, the synergy is all found.
According to the director, this feature is already highly anticipated by the public, especially among sports enthusiasts under 35 years old.
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The opportunity is doubly beautiful for Disney.
On the one hand, they can bite into the global sports betting market.
A study by Data Bridge indicates that this global market will grow from just under $77 billion in 2021 to more than $167 billion in 2029. But this is also an opportunity to strengthen ESPN.
No sale of ESPN
Activist, investor and fund manager Daniel Loeb explained in August his plans to turn around the group whose stock market valuation has lost 20% this year.
One of his remedies: get rid of ESPN.
The solution immediately dismissed by Bob Chapek nevertheless whetted the appetite of potential buyers.
"
If everyone wants to come in and buy it...I think that says a lot about its potential
," the CEO told the
Financial Times
.
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Finally, the announcement of this news of this synergy ended up convincing the investor.
“
We have a better understanding of ESPN's potential to reach global audiences and generate advertising and subscription revenue.
We look forward to seeing Mr. Pitaro implement the planned growth
,” Daniel Loeb tweeted.
It remains to be seen that the image of Mickey sticks perfectly with that of an activity decried for its very addictive side.
