ESPN, the sports-broadcasting company owned by The Walt Disney Co. (NYSE:DIS), today launched ESPN+, its first foray into direct-to-consumer streaming services amid declining cable-TV subscribers.
ESPN+ will cost US$4.99 a month and will offer content such as live sporting events as well as original shows and films.
Disney said in November that fiscal fourth-quarter net profit dropped 1%, hurt by lower advertising revenue and higher program costs at ESPN. Cable-TV services have been losing paying subscribers as more people get content on smartphones.
Disney shares were little changed at US$100.38 at 12:27 p.m.