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2
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· Posted on
February 21, 2024

Disney are pursuing sports betting

Disney are known for their kids flicks...but now, they're looking at something a little left field.

What's the key learning?

  • While the world is opening back up, Disney have struggled to bounce back to their pre-pandemic profits and sales
  • Now, the company is pursing sports betting through their ESPN brand to try and boost their bottom line
  • What was once pretty taboo, may not be so much anymore (i.e. tobacco and gambling).

Background: Disney are the global entertainment GOATs. But while the world is opening back up...they have struggled to bounce back to their pre-pandemic profits.

What happened: Last quarter, Disney's profits were down 25% compared to pre-COVID.

What else: Now, the company is going a 'lil left field. They are pursuing sports betting through their ESPN brand to try and boost their bottom line.

So what's the key learning?

💡We have a good old fashioned land grab in the US sports betting industry... and Disney wants in. This is all because 3 years ago, the Supreme court overturned a ban on sports betting.

💡Let's put this into perspective. The horse and sports betting industry in Australia is worth around $5 billion per year. In the US, it's worth around $70 billion. And expected to grow to $140 billion by 2028.

💡According to Disney's own research, gambling won't hurt the Disney brand...but it will strengthen ESPN's brand (at least in the US).

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