Disney is losing ESPN subscribers by the millions
- 8 years ago
Confirming what some on Wall Street have been suspecting for a while, Walt Disney Co. has revealed that it lost three million subscribers to its sports network ESPN within one year.
The ESPN faithful are down to 92 million as of the fiscal year ended Oct. 3., Disney DIS, +0.61% said in a regulatory filing dated Wednesday.
In August , Chief Executive Robert Iger revealed the sports powerhouse channel had experienced "some subscriber losses."
Wall Street punished Disney shares after the media giant said its cable business - which is largely driven by ESPN - would see operating income growth in the "mid-single digits".
After the Thanksgiving Day shutdown, investors will get their first chance to react to the ESPN subscriber news in a shortened session for U.S. stocks on Friday.
The ESPN faithful are down to 92 million as of the fiscal year ended Oct. 3., Disney DIS, +0.61% said in a regulatory filing dated Wednesday.
In August , Chief Executive Robert Iger revealed the sports powerhouse channel had experienced "some subscriber losses."
Wall Street punished Disney shares after the media giant said its cable business - which is largely driven by ESPN - would see operating income growth in the "mid-single digits".
After the Thanksgiving Day shutdown, investors will get their first chance to react to the ESPN subscriber news in a shortened session for U.S. stocks on Friday.