The entertainment industry mastodon is no longer focusing on the "family" of the brand, but is confident that sports betting will open new horizons for the Disney brand.
The famous brand of fairy-tale world and family entertainment, Disney, has made a strong move towards sports betting. Walt Disney Company CEO Bob Chapek sees sports betting as 'an important opportunity for the company' to generate new revenue streams.
The 'Business Research Company' predicts that the sports betting market will grow to nearly $136 bln. by 2027. This will happen due to the growth of the number of sports leagues and events. Especially, since every year the number of people groups, associations, or clubs in different states increases. It's natural that casino operators around the world show interest in sports betting. After all, they're sensitive to the trends and their audience's tastes. More and more online casinos Canada, in Europe, and in other countries offer gamblers the function of sports betting. They also offer the ability to follow sports events in real-time, making bets not only before the start of the event but also in the process.
Disney has a cross-generational audience: 'Baby Boomers', who are now 57 to 76 years old, 'Generation X' (42 to 56), 'millennials' (26 to 41), 'Generation Z' (under 25), and youngest 'Generation Alpha' (born after 2010). In order to keep the older generations as well as attract the younger generations, Disney has decided to get serious about gambling. Hence, the spinoff of its sister product, the ESPN streaming platform. The fact is that the level of the company's profit sank heavily, not justifying Wall Street's expectations. But at the same time, the figures for sports events on Disney-owned TV channels have skyrocketed over the past year.
This info generated a lot of media interest (from any print magazine to any site) dedicated to both gambling and business analytics. Until now, Disney has positioned itself as a family brand. Obviously, they promote values that are fundamentally different from the gambling world's realities. But in its new direction, Disney didn't 'cut its way through the impenetrable jungle'. Rather, they've gone along the beaten track. An example of this is such large media companies as 'Fox' or 'Sports Illustrated', which are already cooperating with bookmakers and explain this by the fact that gambling has long been part of the culture of how people play sports. However, unlike the same 'Fox', which is the online sports-betting platform co-owner, Disney is currently limited to licensing relationships with betting companies.
Bob Chapek admits that 'the company has some concerns' that it'll be possible to become part of iGaming. Especially, without abandoning the brand. At the same time, the CEO expressed their confidence that sports betting will strengthen the 'ESPN' brand. Thus, will not affect the 'Disney' brand. Well, time will tell.