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ESPN cost cutting continues: got rid of Joe Schad
- Thread starter Buffnik
- Start date
Mike Tirico leaving ESPN for NBC. Who's doing MNF with Gruden going forward?
I always wonder if people actually know what "ESPN" stands for.
It's "Entertainment Sports Programming Network".
We shouldn't be surprised that they're more about entertainment. That's their first name.
It means sports in Spanish. Duh!
Skip Bayless will let his contract expire and leave ESPN for Fox Sports. That really ****ing sucks. I actually like Fox Sports.
http://espnmediazone.com/us/press-releases/2016/04/espn-statement-about-skip-bayless/?preview=true
oh noes. Bayless is gone.
oh noes. Bayless is gone.
Hmmm I'm shocked.
LOL
BlackNGold
Club Member
Be careful what you wish for - ESPN's bidding up sports rights fees have been good for CU.
Of course you're right, but it's hard to see more players in the process being too terribly bad for the schools, even ESPN isn't able to drive up the fees almost single-handedly. The most obvious result will be that more players in the game means giving the conferences and schools more say in the process, instead of being dictated to.
Trent Dilfer is likely out at ESPN. This all has to be about cutting costs, right? They can't actually believe they are able to upgrade talent over some of these guys that they are getting rid of... right?
Im not sure what they are going to upgrade to. Drew Sorcher? They cant escape the weight of billion dollar TV contracts as well as pressure from share holders. Im not sure where they will get the money.
BlackNGold
Club Member
ESPN is still highly profitable and Disney blew by estimates for the 1st quarter results. Disney announced almost a year ago that ESPN was told to cut $360 million from its budget over the next 2 years. As I said before - it is a salary cap issue. Why pay an announcer $6 million a year when you can get someone else to do it for $300K.
The thing to watch for does ESPN compete for the Big 10 media rights deal or do they let it go away.
DiggerBuffs
Well-Known Member
A fan is an upgrade over some of these guys, let's not kid ourselves. Skip can be anyone trying to make a buck. Dilfer may never have made it here if it wasn't for the riding of the Ravens defense coattails.
I agree about Bayless, but Dilfer is a pretty smart dude that knows what he's talking about, is very well spoken, and isn't over the top like Gruden. I thought Tirico was a good play by play guy, too.
DiggerBuffs
Well-Known Member
Oh they are definitely losing SOME talent, especially with Tirico. Dilfer is pure vanilla and at times when he shoots from the hip he says some dumb things. Gruden's "I like this guy" schtick is very tiresome. ESPN is bleeding money. It is sad, but this is what happens when you get charged $10 for 2 of their channels. Thanks for reminding me to cancel ESPN until football season starts again!
They did just recently have a strong earnings beat (DIS:NYSE (Common Stock) reported Q1 2016 earnings of $1.63 per share on 2/09/2016) above the consensus ($1.45). But the stock fell 4% in the next session. On the conference call the they played up ESPNs strengths.
Regarding the drop in operating income, CFO Christine McCarthy said on the conference call, "[O]perating income would have grown in line with the 8% revenue growth we delivered when adjusted for the timing of the college football playoffs and an adverse impact from foreign exchange."
Cable network operating income fell because of a decrease at ESPN and lower equity income from A&E, partially offset by growth at the domestic Disney Channels. The decrease at ESPN was due to higher programming costs, partially offset by an increase in advertising and affiliate revenue. Affiliate revenue growth was due to contractual rate increases, partially offset by a decline in subscribers and unfavorable foreign currency translation impacts from the strong U.S. dollar.
ESPN results were negatively affected by the timing of its fiscal quarter end relative to when college football playoff bowl games were played, resulting in an increase in programming and production costs. These playoff games aired during the first fiscal quarter, whereas they aired during the second fiscal quarter last year. Some of the higher costs, however, are due to contractual rate increases for key sports rights, including the NFL and college football.
CEO Bob Iger subscribed to a strong offense, spending much time on the conference call sharing positive facts and figures about ESPN. His comments indicate that the company plans to remain nimble as it navigates a somewhat changing marketplace. For background: Disney released its ESPN subscriber numbers in an SEC filing the day before Thanksgiving, revealing they fell from 99 million at the end of fiscal 2013 to 92 million at the end of fiscal 2015. That's an annual subscriber loss of about 3.6%, as customers ditch or slim down their large cable packages.
Iger said, "In the last couple of months, we have actually seen an uptick in ESPN subs[cribers], which is encouraging." He later added, "[W]e believe that we've benefited from the growth of certain light packages that ESPN has been part of, particularly [Sling TV's] Dish."
Cord-cutting concerns, and their effect on profitability, are legitimate. Media networks accounted for 53% of Disney's operating income in fiscal 2015.
Link
Cable network operating income fell because of a decrease at ESPN and lower equity income from A&E, partially offset by growth at the domestic Disney Channels. The decrease at ESPN was due to higher programming costs, partially offset by an increase in advertising and affiliate revenue. Affiliate revenue growth was due to contractual rate increases, partially offset by a decline in subscribers and unfavorable foreign currency translation impacts from the strong U.S. dollar.
ESPN results were negatively affected by the timing of its fiscal quarter end relative to when college football playoff bowl games were played, resulting in an increase in programming and production costs. These playoff games aired during the first fiscal quarter, whereas they aired during the second fiscal quarter last year. Some of the higher costs, however, are due to contractual rate increases for key sports rights, including the NFL and college football.
CEO Bob Iger subscribed to a strong offense, spending much time on the conference call sharing positive facts and figures about ESPN. His comments indicate that the company plans to remain nimble as it navigates a somewhat changing marketplace. For background: Disney released its ESPN subscriber numbers in an SEC filing the day before Thanksgiving, revealing they fell from 99 million at the end of fiscal 2013 to 92 million at the end of fiscal 2015. That's an annual subscriber loss of about 3.6%, as customers ditch or slim down their large cable packages.
Iger said, "In the last couple of months, we have actually seen an uptick in ESPN subs[cribers], which is encouraging." He later added, "[W]e believe that we've benefited from the growth of certain light packages that ESPN has been part of, particularly [Sling TV's] Dish."
Cord-cutting concerns, and their effect on profitability, are legitimate. Media networks accounted for 53% of Disney's operating income in fiscal 2015.
Link
Managers are selling the stock in part because more than half their revenue comes from subscription TV. And the trend has been declines in subscribers. So you dont want to be holding a big DIS position if things go further south. Revenue uncertainty situations can be mitigated simply be investing somewhere else...
I have thought this move was long overdue. They need some new blood with new angles. In a tangent analogy, I would liken ESPN to SNL. Every so often the cast needs to be cleaned up and re-introduced.
Agree with this. Also, there is a lot of talent out there and ESPN believes their name is the biggest factor in bringing in viewers.
They aren't going anywhere or I'd be very surprised.
BuffNut99
Club Member
The tree of broadcasting must be refreshed from time to time with the blood of Baylesses & Tiricos.
May 10 -- Walt Disney posted second-quarter results that missed analysts' estimates
Shares of The Walt Disney Co.(DIS) tumbled 5% Tuesday after the media giant reported second-quarter earnings and revenue that fell short of Wall Street estimates.
Analysts noted a number of factors that led to Disney’s failure to meet their expectations. Barclays said Disney appears to be having a tougher time in its media network segment, which includes sports giant ESPN. It also underperformed in consumer products.
Revenue for the media networks unit, Disney's largest business division that runs ABC, ESPN and other TV networks, was flat at $5.8 billion. The unit's cable networks business saw its revenue decline 2% to $4 billion but operating income rise 12% due to higher affiliate fees ESPN collected from pay-TV companies.
But ESPN's higher affiliate revenue derived from rising rates, not improved ratings. Mirroring the trend it saw last year, its subscriber base fell again during the quarter. ESPN's ratings have been a concern for investors, contributing to Disney's falling stock price for much of last year. After the first quarter, Disney chairman and CEO Robert Iger said ESPN's ratings were on the rebound. And ESPN also settled its year-long lawsuit with Verizon over Verizon's new TV channel bundling program that left out ESPN from a base package option.
http://www.usatoday.com/story/money...nings-rise-star-wars-miss-estimates/84197582/
Shares of The Walt Disney Co.(DIS) tumbled 5% Tuesday after the media giant reported second-quarter earnings and revenue that fell short of Wall Street estimates.
Analysts noted a number of factors that led to Disney’s failure to meet their expectations. Barclays said Disney appears to be having a tougher time in its media network segment, which includes sports giant ESPN. It also underperformed in consumer products.
Revenue for the media networks unit, Disney's largest business division that runs ABC, ESPN and other TV networks, was flat at $5.8 billion. The unit's cable networks business saw its revenue decline 2% to $4 billion but operating income rise 12% due to higher affiliate fees ESPN collected from pay-TV companies.
But ESPN's higher affiliate revenue derived from rising rates, not improved ratings. Mirroring the trend it saw last year, its subscriber base fell again during the quarter. ESPN's ratings have been a concern for investors, contributing to Disney's falling stock price for much of last year. After the first quarter, Disney chairman and CEO Robert Iger said ESPN's ratings were on the rebound. And ESPN also settled its year-long lawsuit with Verizon over Verizon's new TV channel bundling program that left out ESPN from a base package option.
http://www.usatoday.com/story/money...nings-rise-star-wars-miss-estimates/84197582/
