disney star: Disney Star posts $444m operating loss from India sports business

While ESPN is renowned globally for being Walt Disney’s cash cow, the American media conglomerate’s sports business in India continues to be a loss-making proposition. According to Walt Disney’s current report filed on October 18, Disney Star’s sports business reported an operating loss of $444 million for the nine-month period ending July 1.

The Walt Disney-owned India unit earned $637 million in revenue from sports during the period under review.

For the same period, ESPN generated an operating profit of $1.8 billion on $12.5 billion in revenue for the nine months ending July 1.

Overall, the sports business recorded an operating profit of $1.4 billion while revenue stood at $13.2 billion for the same period.

During the nine-month period, Disney Star had various sporting events on its network, including the Indian Premier League (IPL) in April-May, the ICC T20 World Cup in October-November, and a slew of India’s home international matches.

It must be noted that the company had just the TV rights for IPL 2023.For the quarter ending December 2022, the company recorded an operating loss of $129 million on revenue of $233 million. The operating loss and revenue stood at $99 million and $127 million, respectively, for the quarter ending April 1.The company’s sports revenue increased while operating losses ballooned during the quarter ending July 1 due to the IPL. The operating loss was $216 million while the revenue came in at $277 million during the quarter.

For the fiscal year ended October 1, 2022, Disney Star’s operating loss from sports was $237 million, while revenue stood at $1.2 billion.

For the same period, Walt Disney’s sports business earned revenue of $17.2 billion while generating an operating profit of $2.7 billion. ESPN reported operating profit and revenues of $2.8 billion and $16 billion, respectively.

 

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