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The Walt Disney Co DIS

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New NFL TV Rights Deal Favors Incumbent Media Players; Streamers Other Than Amazon Sidelined

Neil Macker, CFA Senior Equity Analyst

Analyst Note

| Neil Macker, CFA |

The NFL announced its much-anticipated new TV rights deals on March 18 as the sport tries to capitalize on its dominant position in U.S. linear television viewing. While many observers expected a number of new players to bid, the new contracts that cover the 2023 to 2033 seasons for a total outlay of $110 billion largely involved the same networks and platforms that have broadcast the league’s games. The traditional media players appear to be investing heavily in these rights to strengthen the traditional pay TV bundle as they struggle to hold on to subscribers.

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Company Profile

Business Description

Walt Disney owns the rights to some of the most globally recognized characters, from Mickey Mouse to Luke Skywalker. These characters and others are featured in several Disney theme parks around the world. Disney makes live-action and animated films under studios such as Pixar, Marvel, and Lucasfilm and also operates media networks including ESPN and several TV production studios. Disney recently reorganized into four segments with one new segment: direct-to-consumer and international. The new segment includes the two announced OTT offerings, ESPN+ and the Disney SVOD service. The plan also combines two segments, parks and resorts and consumer products, into one. The media networks group contains the U.S. cable channels and ABC. The studio segment holds the movie production assets.

Contact
500 South Buena Vista Street
Burbank, CA, 91521
T +1 818 560-1000
Sector Communication Services
Industry Entertainment
Most Recent Earnings Dec 31, 2020
Fiscal Year End Oct 3, 2021
Stock Type Classic Growth
Employees 206,000

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