ESPN Plus Streaming Service Debuts in Spring for $5/Month

Disney's profit surges in first quarter but revenue dips amid struggles in media networks

The company's largest network, ESPN, will launch a streaming service for sports fans in 2018 followed by an entertainment offering the following year.

The strong quarter was the result of an uptick in revenue across Disney's global theme parks, as well as recently enacted federal tax changes, which led to a $1.6 billion financial boost for the company. Iger said the app will be an overhaul of the current ESPN app and that "the experience is being completely redone".

The sports-focused service called "ESPN Plus" will sit within a revamped ESPN app and cost users $4.99 per month.

Scores, highlights, shows like Pardon the Interruption, and ESPN films - including the acclaimed 30 for 30 documentaries - will also be available on the service.

ESPN Plus will feature "thousands" of live events that aren't available on ESPN's linear networks from the Major League Baseball, the MLS, the NHL, college sports, Grand Slam tennis, boxing, golf, rugby, and cricket.

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Azad and Congress Deputy leader Anand Sharma that they should explain to the protesting party member but Mr. The letter spoke of infringement of the federal rights as the Rajya Sabha was the Council of the States.

Higher losses from streaming service Hulu, in which Disney will become a majority stakeholder pending the close of its Fox acquisition, were partially attributed to an equity decrease in investee income from US$119 million in the prior-year quarter to US$50 million. The unit benefited by higher theatrical distribution results of Star Wars: The Last Jedi and Thor: Ragnarok in Q1 versus Rogue One: A Star Wars Story and Doctor Strange in the prior-year quarter.

The standalone subscription will be Disney's first attempt at a direct-to-consumer service. Prior to Disney's Q1 earnings report, the company announced that Game of Thrones execs David Benioff and D.B. Weiss have been tapped to write and produce a new series of Star Wars films. Those will presumably wind up on the entertainment app that Disney is launching in late 2019, which will feature content from Marvel, Lucasfilm, Pixar, and the Disney TV and film studio.

Yesterday, Disney announced its quarterly earnings results and there was also some interesting information that CEO Bob Iger told CNBC.

Both streaming direct-to-consumer products will be powered by BAMTech.

During the earnings call, Iger said that Disney is now developing "a few" Star Wars series for the new app, and is close to unveiling one of the projects soon.

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