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Disney+ Secures Global Streaming Rights to Formula E Racing Across 140+ Markets

/ Media Entertainment & Art Community

Disney+ has secured global streaming rights to the ABB FIA Formula E World Championship across more than 140 territories, bringing one of the world’s leading electric racing series to audiences in 144 markets. The landmark agreement will provide Formula E with a more unified global streaming presence while allowing the championship to retain existing local television partnerships in key markets. In the United States, Formula E races will be available on ESPN’s streaming service, now known as ESPN Select. Formula E CEO Jeff Dodds said the partnership marks a major milestone for the championship, with Disney’s international reach expected to introduce the electric racing series to a much wider audience. Formula E, which held its first season in 2014, operates independently of Formula 1 and focuses exclusively on electric-powered racing and automotive technology. Disney+ deal comes ahead of GEN4 launch The streaming agreement comes as Formula E prepares to enter a new technological phase with the introduction of its GEN4 racing car. Formula E describes GEN4 as its fastest and most technologically advanced electric race car yet. The vehicle is capable of producing 600 kilowatts of power, equivalent to more than 815 horsepower, and can accelerate from 0 to 60 mph in around 1.8 seconds. The championship says the acceleration is roughly 30% faster than that of a Formula 1 car, underscoring the technological advances being made in electric motorsport. 21-race season planned for 2026-27 Formula E is scheduled to stage 21 races across 13 locations during the 2026-27 season. The campaign will begin with the opening two rounds in Jeddah, Saudi Arabia, on December 18 and 19, before concluding in Tokyo in July. Dodds said Disney+ could play a key role in expanding Formula E’s international audience as the championship enters the GEN4 era. The partnership could also extend beyond live race coverage, with both sides exploring additional content and fan-focused experiences. Formula E Chief Media Officer Michaella Snoeck said retaining local linear television agreements alongside Disney+’s global streaming reach would allow the championship to serve established audiences while expanding its digital footprint. Live sports drive streaming growth Disney’s move into Formula E reflects the broader streaming industry’s growing focus on live sports as a way to attract and retain subscribers. High-profile sporting events can provide recurring, appointment-based viewing and encourage audiences to remain engaged with streaming platforms. Formula E’s emphasis on electric mobility, technological innovation and sustainability also aligns with Disney’s broader brand positioning. Disney+ branding will appear on the GEN4 race car during the upcoming season alongside other major commercial partners. Joe Earley, co-president of Direct to Consumer for Disney Entertainment, said Formula E’s combination of competition, technology and sustainability makes it a distinctive addition to Disney+’s live sports offering. The partnership is expected to give Formula E a significantly broader global digital platform as the championship prepares for its next generation of electric racing. Source: Variety

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Disney Explores Unified ‘Super App’ to Merge Streaming, Parks and Cruise Services

/ Media Entertainment & Art Community

The Walt Disney Company is reportedly considering the development of a unified “super app” that would bring together its various digital platforms, including Disney+, Disneyland Resort services, and the Disney Cruise Line Navigator app. According to reports, internal discussions are still in the early stages, with executives evaluating how to create a more connected ecosystem for Disney customers. The initiative aligns with the vision of Disney CEO Josh D’Amaro, who recently stressed the importance of making Disney+ the central touchpoint between the company and its audience. During Disney’s latest earnings call, he highlighted plans to create a seamless connection between streaming entertainment and real-world Disney experiences such as theme parks and cruises. If developed, the app could help Disney cross-promote its attractions and travel businesses to millions of Disney+ subscribers. However, analysts note that streaming users and theme park visitors may have different interests, which could make balancing content and promotions a challenge. Source: TechCrunch

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Fox Unveils ‘Fox One’ Streaming Service, Set to Launch Before NFL Season

/ Media Entertainment & Art Community

Fox Corporation has officially announced the launch of its direct-to-consumer streaming platform, Fox One, which is expected to go live ahead of this year’s National Football League season. The announcement came from CEO Lachlan Murdoch during the company’s quarterly earnings call on Monday. While the company has not yet disclosed an exact price point, Murdoch indicated that Fox One will adopt a wholesale pricing model—mirroring what pay-TV providers currently pay for Fox channels. Importantly, existing cable TV subscribers will receive access to the service at no extra cost. Murdoch emphasized that Fox One is not intended to undercut the traditional cable ecosystem. “It would be a failure if we attracted more connected subscribers at the expense of our cable base,” he said, underlining Fox’s commitment to retaining its linear TV audience while expanding into digital. Fox also plans to pursue strategic collaborations with distributors and third-party platforms to broaden access to Fox One. The media giant, known for Fox News and an expansive sports lineup, has until now lagged behind competitors in the direct-to-consumer space. Although it currently operates niche services like the Fox Nation subscription app and the free, ad-supported platform Tubi, Fox One marks its first attempt to unify all its content under one streaming banner. This move follows Fox’s recent decision to exit the proposed joint sports streaming venture, Venu, which was being developed alongside Warner Bros. Discovery and Disney. Unlike its partners—both of which already offer sports via streaming platforms like Max and ESPN+—Fox had yet to launch a comprehensive subscription-based streamer.   Meanwhile, ESPN is gearing up to introduce a new flagship app, which will mirror its cable channel’s offerings and is expected to be officially named ESPN, according to recent reports.   Source: CNBC Image credit: Getty Images 

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Disney’s Streaming Profit Surprises Amidst Decline in Traditional TV Business

/ Media Entertainment & Art Community

Disney’s unexpected profit in its streaming entertainment division contrasted with a downturn in its traditional TV business and weaker box office performance, causing its shares to drop 6% before the market opening on Tuesday. The company’s streaming division, including Disney+ and Hulu, reported operating income of $47 million for the January-March period, a significant improvement from a loss of $587 million a year earlier. However, the combined streaming business, including ESPN+, still reported a loss of $18 million, though narrower compared to the prior year’s loss of $659 million. While streaming showed promise, revenue from Disney’s traditional television business declined by 8% to $2.77 billion, with operating profit falling 22% from a year ago. Despite this, CEO Bob Iger expressed confidence in the company’s direction, emphasizing the transition to a new era marked by solid performance and global content creation. Iger, who returned from retirement in November 2022, implemented cost-cutting measures expected to reach $7.5 billion by September. Additionally, Disney announced a significant investment in theme parks and plans for a standalone ESPN streaming app. The unexpected profit from streaming was attributed to aggressive cost management, with Disney+ adding over 6 million customers during the quarter. Despite streaming’s growth, costs associated with streaming cricket may lead to a loss in the current quarter but a return to profit in the following period. Looking ahead, Disney anticipates that the combined streaming unit will generate a profit in the fiscal fourth quarter, becoming a significant growth driver for the company with improved profitability expected for fiscal 2025. In summary, Disney’s latest earnings report reflects a mixed performance, with streaming showing promise amidst challenges in the traditional TV business. However, the company remains optimistic about its future prospects, buoyed by strong results in theme parks and ongoing efforts to enhance its streaming offerings.  

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Sony Confirms Termination of $10 Billion Merger Deal with Zee Entertainment, Legal Battle Looms

/ Human Resource Community

Sony Corporation officially announced on Monday the termination of its proposed $10 billion mega-merger deal with Zee Entertainment, marking the collapse of the ambitious alliance that aimed to create India’s largest entertainment company. The agreement was intended to provide substantial financial prowess, positioning the unified entity to compete with global streaming giants like Netflix Inc. and Amazon.com Inc., as well as local conglomerates such as Reliance Industries Ltd, currently exploring potential partnerships with Disney. The termination notice served by Sony brings an abrupt end to the negotiations, which had been anticipated as Sony Group Corp signaled its hesitancy to extend the discussions beyond the originally agreed-upon deadline. The termination follows a report on January 21 by ET (Economic Times) indicating that Sony was unlikely to prolong the good faith negotiations with Zee Entertainment Enterprises Ltd. (ZEEL). Zee Entertainment, in response to Sony’s move, expressed its intention to take legal action against the Japanese conglomerate, setting the stage for a potential legal battle between the two entities. The fallout from the failed merger deal adds a layer of complexity to the media landscape, with Zee Entertainment now reassessing its strategic options. In a prior development, Zee had requested Sony to extend the merger deadline from December 21, 2023, citing the need for more time. The merger deal, initially inked on December 22, 2021, faced hurdles and uncertainties, ultimately leading to its termination. The termination of the Sony-Zee merger deal raises questions about the future trajectory of both companies in the highly competitive Indian entertainment market. Industry observers are closely watching the aftermath of this high-profile breakdown and its potential implications for the broader media and entertainment landscape in India.

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Hotstar Breaks Records with 59 Million Concurrent Viewers for World Cup Final, Surpassing Previous Milestone

/ Media Entertainment & Art Community

Disney’s Hotstar achieves a groundbreaking milestone with 59 million concurrent viewers during a highly anticipated World Cup final cricket match in India. This surpasses the previous record of 53 million viewers set just a week earlier. With no significant cricket events in the near future, Hotstar is poised to maintain this record for at least six months. The platform now holds a substantial lead in concurrent viewership over its competitor, JioCinema, which peaked at 32 million earlier this year. This achievement occurs against the backdrop of Disney facing challenges in the Indian market, including a decline in digital subscribers. Disney CEO Bob Iger expressed a commitment to the Indian market but acknowledged the need to evaluate options. Preliminary talks with potential partners, including Reliance and private equity firms, have taken place. However, the dynamics of Star India have evolved, with market conditions prompting a shift in focus to core businesses. Hotstar’s subscriber base has experienced a decline of more than 23 million in the past year, according to Disney. The platform faces competition, notably from Viacom18’s JioCinema, led by Mukesh Ambani, who has attracted top executives from Star India and invested $3 billion to stream the IPL cricket tournament for five years. Despite these challenges, Disney had high expectations for the ICC Cricket World Cup, projecting over 50 million concurrent viewers and aiming to reach 82% of India’s total annual video users during the 50-day series.

Hotstar Breaks Records with 59 Million Concurrent Viewers for World Cup Final, Surpassing Previous Milestone Read More »