With the Disney Bundle, you can have the best of all worlds. If you find yourself getting bored of Pixar movies, why not switch over to the latest Marvel film? And if superheroes aren’t your thing, you can always enjoy a captivating nature documentary on National Geographic. And if animals fail to capture your interest, you can always turn to ESPN and immerse yourself in the excitement of baseball. But what if none of these options satisfy your cravings? Have you considered the thrill of gambling?
Just recently, ESPN, a subsidiary of Disney since 1995, made headlines with the announcement of its online betting brand—ESPN Bet. In a deal worth $2 billion over 10 years, PENN Entertainment, which had recently severed ties with controversial Barstool Sports owner Dave Portnoy, will partner with ESPN to launch this new betting service in the fall. Through this move, the entertainment industry is further deepening its association with the world of gambling.
It is important to note that Disney is not directly involved in bookmaking operations. Instead, PENN will be responsible for handling the bets. This decision by Disney CEO Bob Iger may come as a surprise to some, considering the company’s previous stance against gambling. Iger admitted in a 2023 interview that he had been conservative about the idea of gambling in the past, fearing it would tarnish Disney’s family-friendly image. However, with the growing acceptance of sports betting and the potential for substantial revenue, Iger’s opinion has evolved.
It is worth mentioning the irony of Disney’s position on gambling. The company has prohibited casinos on its cruise ships and fought against the expansion of gambling establishments in Florida. Yet, former Disney CEO Bob Chapek described ESPN’s foray into sports betting as “perfect” and too good to pass up. ESPN’s sports betting show, The Daily Wager, launched in 2019 and has been a major success, with ratings on the rise. Additionally, rival companies such as DraftKings and FanDuel, with a substantial market share in the US sports betting industry, prominently advertise on ESPN.
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According to Chris Grove, CEO of American Affiliate, this new deal strengthens the connection between the ESPN brand and sports betting but does not represent a fundamental shift for Disney. “Sports betting has been baked into the ESPN experience for years,” he explains. ESPN sees this partnership as the next logical step in the evolution of sports betting and acknowledges the heightened interest and engagement it brings. Mike Morrison, ESPN’s VP of sports betting, emphasizes the significant opportunity this venture presents for everyone in the sports industry.
The launch of ESPN Bet is part of Disney’s long-term plan to transition its sports business from traditional cable TV to the streaming era. ESPN+, which was introduced in 2018, is part of this strategy. However, the platform has faced challenges, with a decline in subscribers and limited coverage of popular leagues such as the NBA and NFL, which require an ESPN TV subscription. As the entertainment industry continues to grapple with the rise of streaming and social media, ESPN has had to adapt to the changing landscape while also grappling with escalating sports rights costs.
In conclusion, with the Disney Bundle, you can enjoy a wide range of entertainment options. The addition of ESPN Bet demonstrates Disney’s willingness to embrace the world of gambling, albeit indirectly through a partnership with PENN Entertainment. This move aligns with the company’s efforts to stay relevant in the streaming era and capitalize on the growing interest in sports betting. While some may view this as a departure from Disney’s family-friendly image, it is a strategic decision that reflects the evolving dynamics of the entertainment industry.
