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Wednesday, February 8, 2017
Massive ESPN Financial, Subscriber Losses Drag Down Disney’s First-Quarter Sales
A year that saw arguably the five greatest championship game performances of all time should have helped right the ship for ESPN, and at the very least stopped the trend of massive subscriber losses which have plagued the Bristol-based sports giant for the last few years.
Well, that did not happen, and ESPN appears to be a sinking ship, dragging parent company Disney down with it.
Bloomberg reports that ESPN badly hurt Disney’s first quarter sales, falling well short of projections.
According to The Wrap, “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.”
In other words, everyone else at Disney met or exceeded their projected goals, except for ESPN who lost more than twelve million subscribers in just under six years.
But, the problem for ESPN goes deeper than just losing subscribers and money. The Wrap explains, “At the same time, rights fees for the live sports ESPN specializes in broadcasting continue to go up, as there’s plenty of competition for one of the few pieces of programmed television that still delivers monster ratings. ESPN will pay $7.3 billion for content this year – the biggest price tag among all media companies. Operating income at Disney’s cable networks division — primarily ESPN — plunged 11 percent compared with the same time the previous year. Disney attributed that drop entirely to lower ESPN revenue.”
Less cash on hand means less cash to purchase rights to sporting events, which can prove particularly harmful to an entity that considers itself a sports network. Now, Disney and ESPN have laid much of the blame for their subscriber loss at the feet of ...
Well, that did not happen, and ESPN appears to be a sinking ship, dragging parent company Disney down with it.
Bloomberg reports that ESPN badly hurt Disney’s first quarter sales, falling well short of projections.
According to The Wrap, “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.”
In other words, everyone else at Disney met or exceeded their projected goals, except for ESPN who lost more than twelve million subscribers in just under six years.
But, the problem for ESPN goes deeper than just losing subscribers and money. The Wrap explains, “At the same time, rights fees for the live sports ESPN specializes in broadcasting continue to go up, as there’s plenty of competition for one of the few pieces of programmed television that still delivers monster ratings. ESPN will pay $7.3 billion for content this year – the biggest price tag among all media companies. Operating income at Disney’s cable networks division — primarily ESPN — plunged 11 percent compared with the same time the previous year. Disney attributed that drop entirely to lower ESPN revenue.”
Less cash on hand means less cash to purchase rights to sporting events, which can prove particularly harmful to an entity that considers itself a sports network. Now, Disney and ESPN have laid much of the blame for their subscriber loss at the feet of ...
A MUSLIM BROTHERHOOD SECURITY BREACH IN CONGRESS
Daniel Greenfield, a Shillman Journalism Fellow at the Freedom Center, is a New York writer focusing on radical Islam.
Last year, eight members of the House Permanent Select Committee on Intelligence issued a demand that their staffers be granted access to top secret classified information.
The signatories to the letter were Andre Carson, Luis Guiterez, Jim Himes, Terri Sewell, Jackie Speier, Mike Quigley, Eric Swalwell and Patrick Murphy. All the signatories were Democrats. Some had a history of attempting to undermine national security.
Two of them have been linked to an emerging security breach.
The office of Andre Carson, the second Muslim in Congress, had employed Imran Awan. As did the offices of Jackie Speier and Debbie Wasserman Schultz; to whom the letter had been addressed.
Imran Awan and his two brothers, Jamal and Abid, are at the center of an investigation that deals with, among other things, allegations of illegal access. They have been barred from the House of Representatives network.
A member of Congress expressed concern that, “they may have stolen data from us.”
All three of the Pakistani brothers had been employed by Democrats. The offices that employed them included HPSCI minority members Speier, Carson and Joaquín Castro. Congressman Castro, who also sits on the House Permanent Select Committee on Intelligence, utilized the services of Jamal Moiz Awan. Speier and Carson’s offices utilized Imran Awan.
Abid A. Awan was employed by Lois Frankel and Ted Lieu: members of the House Committee on Foreign Affairs. Also on the committee is Castro. As is Robin Kelly whose office employed Jamal Awan. Lieu also sits on the subcommittees on National Security and Information Technology of the Committee on Oversight and...
Former Classmate: Keith Ellison Would Rant About Jewish Slavers, Called Jews ‘Oppressors’
Rep. Keith Ellison (D-Minn.) has dominated the endorsements game in the race to become the next chairman of the Democratic National Committee. |
That anecdote is buried in an otherwise complimentary profile of the congressman from Mother Jones. Ellison recently came under renewed scrutiny for his past defense of anti-Semitic Nation of Islam leader Louis Farrakhan in the student paper, and for inviting Stokely Carmichael to give a campus speech in which he accused “Zionists” of collaborating with the Nazis.
One of the campus critics of Ellison (who then went by ‘Keith Hakim’) was an editor of the Minnesota Daily Michael Olenick. Olenick told Mother Jones that Ellison argued in their conversations that blacks and other oppressed groups “could not be racist toward Jews” because “Jews were themselves oppressors.”
“‘European white Jews are trying to oppress minorities all over the world,'” Olenick said Ellison would tell him. “Keith would go on all the time about ‘Jewish...
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