Movies

Disney, partners pull the plug on Venu Sports streaming service

BBG News

It appears that the collaborative sports-streaming project, initially suggested by The Walt Disney Company, Fox Sports, and Warner Bros. Discovery, will unfortunately not be launched.

On Friday, the partners announced their decision to halt the service’s development, just a few days following the resolution of the lawsuit that had impeded its progress.

Following thoughtful discussions, we’ve mutually decided to terminate the Venu Sports joint business and forgo the launch of our streaming platform. In light of the dynamic nature of today’s market, we believe it’s more beneficial to cater to sports enthusiasts by concentrating on our current offerings and sales networks. This decision was made in order to adapt to the shifting preferences of sports fans.

Hollywood Inc.

Fubo is set to merge its live TV service with Hulu’s, creating a fresh streaming bundle that includes ABC and ESPN channels.

In 2024, Venu was unveiled as a streamlined television service offering channels like ESPN, TNT, ABC, and Fox Sports, which broadcast numerous major live sports events. Priced at $42.99, this product catered to young audiences who prefer not to subscribe to a full traditional cable TV package.

In a legal move, Fubo, a New York company offering comparable services, sought to halt Venu’s operations, arguing it was unfairly competitive. A federal judge concurred and temporarily inhibited the service, ruling in August that Venu could potentially reduce competition and restrict trading activities.

Hollywood Inc.

This autumn, the freshly named streaming service, a collaboration between Fox Corporation, The Walt Disney Company, and Warner Bros. Discovery, is set to debut. At this time, details about its pricing are still undisclosed.

The lawsuit against Disney was withdrawn on Monday following an agreement for Disney to combine Fubo with their Hulu Live TV platform. In addition, it was revealed that Disney, Warner Bros. Discovery will provide Fubo with a $220 million investment.

As a movie enthusiast, I’m excited to share that Disney has announced a new package coming up via Fubo, which includes ABC and ESPN channels. This seems like it could be an alternative to Venu. Moreover, ESPN is planning to launch a direct-to-consumer offering by the end of this year, providing easy access to their channels without the need for a traditional pay TV subscription.

Financial experts expressed a moderate view towards Venue, pointing out that dedicated sports enthusiasts are often willing to purchase conventional TV subscriptions offering a comprehensive range of channels and events. However, Venue would still necessitate consumers to discover means for acquiring sports programming on the platforms controlled by Comcast and Paramount Global, both of which hold NFL packages.

As Warner Bros. Discovery lost the package of NBA games to both Amazon’s Prime Video and Comcast, Venu began to seem less cost-effective as well.

Read More

2025-01-10 18:31

Previous post Jennifer Aniston begs fans to be ‘kind’ to ‘scared’ animals suffering during devastating LA fires
Next post Razer’s Project Ava: An AI that is an esports coach and a gamer copilot