Walt Disney (NYSE:DIS) raised its full-year adjusted earnings per share guidance after announcing a new streaming service from its ESPN division set to launch on August 21.
The direct-to-consumer platform, priced at $29.99 per month, will serve as the exclusive home for WWE events. It will also feature major professional and collegiate sports coverage—including the NFL, MLB, and NBA—alongside popular programs like "SportsCenter" and "Pardon the Interruption."
The move aligns with Disney’s broader strategy to expand its presence in the competitive streaming landscape as consumer preferences shift away from traditional cable.
CEO Bob Iger described the ESPN platform, recent NFL-related initiatives, and the planned integration of Hulu into Disney+ as "major steps" in the company’s streaming evolution.
During the fiscal third quarter, Disney+ subscriber numbers increased 1.4% quarter-over-quarter to 127.8 million, slightly below Bloomberg estimates of 127.97 million. The company expects subscriber growth to continue at a modest pace in the current quarter.
Iger also highlighted continued expansion plans across the company’s global theme parks and cruise operations.
