Disney CEO: ‘Sports betting is a very significant opportunity for the company’

Disney CEO Bob Chapek has described the sports betting market as a “very significant opportunity” for the company, noting that its ESPN sports broadcasting platform is the “perfect” place for it.

Disney CEO Bob Chapek has described the sports betting market as a “very significant opportunity” for the company, noting that its ESPN sports broadcasting platform is the “perfect” place for it.

“Suffice it to say that we continue to see huge opportunities in sports and all of that, the rights business, our innovative programming and the flexibility achieved through our business, which saw ESPN+ subscribers increase 66% in just the last fiscal year” , he added.

When asked about a possible nod to the sports betting industry, Chapek noted that any move Disney makes will be consumer driven. “We believe that sports betting is a significant opportunity for the company. And everything is driven by the consumer.”

The CEO added: “It’s consumer driven, especially the younger consumer, who will replenish sports fans over time and their desire to have gaming as part of their sporting experience. And as we follow the consumer, we necessarily have to seriously consider getting into the game more broadly. And ESPN is a perfect platform for that.”

CEO reveals that he conducted surveys to assess impact on the Disney brand

In addition, Bob Chapek revealed that the group has carried out some studies to assess the impact on the Disney brand. “We’ve done substantial research in terms of impact, not just on the ESPN brand, but on the Disney brand in terms of changing consumer perceptions of the game’s acceptability. And what we are discovering is very significant.”

He explained: “We have some concerns as a company about our ability to enter the market without impacting the brand. But I can say that, given all the research we’ve done recently, that’s not the case. In fact, it strengthens the ESPN brand when you have a betting component and it has no impact on the Disney brand.”

“So going after this demographic opportunity has non-negligible revenue implications. But that’s something we’re deeply interested in – and aggressively pursuing,” he concluded.

ESPN is already in the sports betting market, as the platform entered into deals with Caesars Entertainment and DraftKings last year. Both deals include integrations into ESPN’s digital platforms connecting fans to sportsbook content from Caesars Entertainment, William Hill and DraftKings.