Saturday April 1st, 2017
As reported extensively by Breitbart News, ESPN hassuffered severe losses in cable subscriptions over the last few years, the repercussion of which will rear its ugly head in the form of significant cutting of on-air talent in the near future.
According to comments made Thursday by ESPN’s Jim Miller on SI Media Podcast with Richard Deitsch, dozens of employees will soon join the unemployment lines.
“The way that I’ve heard it—and I’ve kind of run the numbers on it, I think we’re looking at between 40 and 50 people,” Miller said. “And look, there’s a lot of uncertainty about who it’s gonna be and why. Remember, this is not quantum physics, so it’s not an exact equation.”
The plight of ESPN is no trivial matter for entertainment giant Disney, the parent company for the “Worldwide leader in sports entertainment.” In February, The Wrap reported, “Cable networks, particularly ESPN, have been an albatross on Disney’s stock price even as the company’s two other major prongs, movies, and theme parks, continue to perform well.
“As cheaper TV alternatives began to proliferate, ESPN hemorrhaged subscribers during the course of 2016 and is now at less than 88 million, compared with a peak of 100.1 million in 2011. At an estimated $7 per subscriber, that dip has been a substantial hit to Disney, especially considering media networks made up 49 percent of Disney’s profits during fiscal 2016.”
Read More HERE