Is the Cable TV Era Ending... ESPN Also Moving Toward Streaming Channel
ESPN, the sports network representing American cable TV, is reportedly pushing forward with a so-called 'Flagship' project to offer its entire channel as a subscription-based streaming service, according to the Wall Street Journal (WSJ) citing sources on the 18th (local time).
According to the report, ESPN executives have determined that streaming the channel is inevitable as viewers have increasingly canceled cable TV subscriptions in recent years and subscribed to streaming services such as Netflix.
Currently, ESPN broadcasts some sports games through an application called ESPN+, launched in 2018. This includes golf, some Major League Baseball games, and professional hockey matches. However, professional basketball (NBA) and professional football league (NFL) games have not been supported via streaming. WSJ stated, "The code-named 'Flagship' project will help ESPN stream its entire channel."
ESPN has not yet decided when the streaming channelization will begin. Sources also said that even if a streaming service for the entire channel starts, the channel broadcast via cable TV will continue to be maintained.
If the ESPN channel is offered via streaming, it is expected to have a significant impact on the overall cable TV industry. ESPN is considered one of the channels primarily watched by cable TV viewers. For the cable TV industry, this means they will have to pay to broadcast the ESPN channel while simultaneously competing with ESPN's streaming service. This is expected to further pressure the cable TV market, which has already been shaken by the emergence of OTT services like Netflix.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
WSJ noted, "While ESPN dominates the sports TV market, competition in the streaming sector is fierce," adding, "The number of households subscribing to ESPN's streaming service may be fewer than those including the ESPN channel in their cable TV packages." As of September last year, about 74 million households subscribed to the ESPN channel, which is nearly an 11% decrease compared to 2019.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
