Disney’s ESPN, Fox and Warner Bros Discovery have started their reviewing process to appoint a potential CEO candidate who could lead their new streaming venture. This venture would offer all their live-sports programming in one package.
Pete Distad, who had led Apple as senior director, video/sports/TV+ business, operations, and distribution, and is currently a board member at CoachArt is among the top candidates the media companies are considering, highlighted in a media report.
Distad started his career at Andersen Consulting and went on to work across Calence, McKinsey & Company and Hulu. During his stint at Apple, Distad led the Apple services video and sports business and operations teams, where he was responsible for growing Apple’s video businesses around the world. This included TV+, Sports, TV App, transactional, and channels.
He previously led the Apple TV (hardware) product marketing team.
The announcement of a new CEO will be unveiled in the coming weeks and the new venture will be launched later this year. ESPN, Fox and Warner Bros are in the lookout for an executive who is seasoned in marketing subscription services and has the potential to manage the challenges that arise in those businesses. For example, customer turnover, stated a media report.
Under Distad’s leadership, in 2022, Apple entered into a decade-long agreement with Major League Soccer that was worth at least $2.5 billion. The new-to-be-launched streaming service will carry 14 networks that include Disney’s ESPN channels followed by its ABC network, Warner’s TNT and TBS. It will also include Fox’s broadcast network and sports cable channel.
It will also feature sports that include NFL, NBA, Major League Baseball, college football and basketball, golf and Nascar.
A traditional television subscription can run north of $ 100 a month, whereas YouTube TV costs $ 73 a month. At present, the media companies are discussing the price at $ 50 a month.
As per the Citi analysts, the new streaming venture will encompass about 55 percent of US sports rights. On the appointment of the CEO, their task will be to attract millions of sports fans to subscribe to the new service. The CEO also will need to manage three parent companies that have relationships with leagues such as the NBA and NFL.
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