ESPN standalone streaming service will cost $29.99 a month
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For the first time, sports fans will be able to subscribe to ESPN without signing up for satellite or cable TV. It will cost $29.99 a month.
The Walt Disney Co. unit announced Tuesday that the new direct-to-consumer streaming service will go by the legacy name ESPN, a sign that the sports media behemoth sees streaming as the future. The launch date will be in early fall.
The standalone service will provide live feeds of all ESPN channels including ESPN2, ESPNU, SECN, ACCN, ESPNEWS and ESPN Deportes. Users will also be able to stream ESPN productions airing on the ABC broadcast network, which include the NBA Finals and “Monday Night Football.”
The service will also be available in a streaming bundle, where consumers can get ESPN, Disney + and Hulu for $35.99. The bundle plan will be available at a discounted $29.99 for the first year.
“It’s going to redefine our business,” ESPN Chairman Jimmy Pitaro said at a press briefing held at Disney’s New York headquarters in lower Manhattan.
The unveiling of the new product is a significant moment for the company. The current streaming service ESPN+ offers the channels, but only to users who have pay TV.
As younger consumers have moved to streaming, they have left behind the cable universe their parents lived in. The new ESPN streaming product is aimed at attracting sports fans who are not buying pay TV.
As the audience moves to streaming, TV stations are pressing Washington for relief.
“Our priority is looking at the 60 million households on the sidelines,” Pitaro said.
Pitaro said the brand name has meaning to younger consumers who spend time with it on social media and digital platforms even if they don’t watch on cable.
ESPN has long received the biggest cut of cable bills and as a result felt the most pain as consumers were giving up their pay-TV subscriptions.
ESPN was in 92 million pay-TV homes in 2015. It’s now down to 64.2 million.
The network has managed to offset that subscriber revenue loss with increases in ad revenue and cost-cutting. Advertising sales have been robust as demand is high for commercials on live TV when viewers are watching in real time.
Under Pitaro’s watch, ESPN has locked up a number of major sports rights deals in recent years that he believes will strengthen the streaming offering. Last year, the company finalized a new 11-year deal to keep the NBA. He has invested in big-name personalities such as Stephen A. Smith and Pat McAfee aimed at keeping viewers hooked outside of live event coverage.
ESPN also announced the return of Rich Eisen, who was a popular “SportsCenter” co-host during his seven-year tenure on the network that ended in 2003. Eisen’s syndicated radio program, currently streamed on Roku, is moving to ESPN+ and Disney+ starting this fall. The move will coincide with the launch of the ESPN direct-to-consumer product.
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