Disney And ESPN “Uniquely Positioned” To Move Sports Fully Into Streaming – Analyst
Dade Hayes Finance EditorA confluence of factors makes now the time for Disney and ESPN to migrate sports broadcasting into the direct-to-consumer streaming world, according to a veteran media analyst.Ben Swinburne of Morgan Stanley wrote in a note to clients Wednesday that Disney, thanks to the scale of ABC and ESPN, its early streaming success with Disney+ and its control of Hulu, “may be uniquely positioned to take the leap.” He reaffirmed his “overweight” rating on Disney’s stock, raising his 12-month price target to $135. Disney shares were trading Wednesday at around $115.The pay-TV bundle is continuing to unravel, Swinburne argues, and general entertainment viewership is increasingly happening on streaming services.