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Disney to break out sports revenue in financial reports

A sign is shown at one of the entrances to Disney Studios in Burbank, California, U.S., July 25, 2023. REUTERS/Mike Blake/File photo Acquire Licensing Rights
Oct 18 (Reuters) – Walt Disney (DIS.N) will break out its sports programming revenue from the fourth quarter onwards following a restructuring of the company announced earlier this year, the media firm said on Wednesday.
Results from Disney’s media and entertainment business will be reported in two segments: entertainment and sports.
Sports will include ESPN and ESPN+, Star-branded sports channels in India, and fee earned from licensing sports content, while the entertainment segment will include its linear networks, streaming services, and revenue earned from licensing films and television content.
The company also revealed historic results according to the new segment classification for the first nine months through July 1, 2023, as well as for its fiscal years 2022 and 2021.
The move comes as Disney scouts strategic partners for its sports network ESPN. It is also exploring the sale of some of its assets in India, Reuters reported in July.
The company in February announced a sweeping restructuring that created three internal units and included trimming the company’s workforce by nearly 4%.
Disney last changed its reporting structure in 2020.
Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath
Our Standards: The Thomson Reuters Trust Principles.



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