Disney, Fox, Warner Bros. Discovery Scrap Venu Sports Streamer

variety.com:

Brian Steinberg Senior TV Editor Venu was blocked on its drive to the goal. Disney, Fox and Warner Bros. Discovery on Friday said they would scrap their ambitious plans for a bundled sports streamer that would show all their game telecasts and studio programs, citing a need to “meet the evolving demands of sports fans by focusing on existing products and distribution channels.” The decision surfaces after Disney agreed to take a stake in the Fubo streaming service and fold its Hulu live-TV service into it. “After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” the companies said in a statement. “In an ever-changing marketplace, we determined that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels.

We are proud of the work that has been done on Venu to date and grateful to the Venu staff, whom we will support through this transition period.” Venu was supposed to open new space in the sports-media world — a stand-alone streamer that would give subscribers access to all sports from ESPN, Warner and Fox.

In all, fans would be able to stream the offerings of 14 different TV networks as well as a library of documentaries and other programs from the archives of ESPN, Fox Sports and others.

The companies initially sought $42.99 per month for the product and spurred huge debates about whether such a venture could succeed without NFL properties that are distributed via Amazon, NBC and CBS.