The Media Giants strike back
Venu Sports, the new sports streaming partnership among The Walt Disney Company, Warner Bros. Discovery, and Fox Corporation, led by Pete, represents a major shift in the sports broadcasting landscape.
A recent Citi Research report indicates that this joint venture will control approximately 55% of US sports broadcasting rights, with Disney leading at an estimated $7.2 billion, followed by Fox and WBD.
This joint venture appears to be a strategic response to the growing presence of Big Tech in the sports streaming market. Companies like Amazon, Apple and YouTube have been aggressively pursuing sports streaming deals, significantly driving up costs.
Although Disney, Fox, and Warner Bros. Discovery are currently expected to bid on sports rights separately, there is potential for them to collaborate and bid as a unified entity in the future.
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