Disney will present sports revenue in its financial reports – 10/19/2023 at 00:42

Walt Disney DIS.N will separate its sports programming revenue starting in the fourth quarter, following a corporate restructuring announced earlier this year, the media company said on Wednesday.

Disney’s media and entertainment business results will be presented in two segments: entertainment and sports.

The sports segment will include ESPN and ESPN+, Star sports channels in India, and revenue from sports content licensing, while the entertainment segment will include linear networks, streaming services, and revenue from sports content licensing, film and television content.

The company also disclosed its historical results based on new sector classifications for the first nine months to July 1, 2023, as well as for fiscal years 2022 and 2021.

The move comes as Disney seeks a strategic partner for its ESPN sports network. The company is also exploring the sale of some of its assets in India, Reuters reported in July.

In February, the company announced a major restructuring that resulted in the creation of three internal units and a reduction in the company’s workforce by nearly 4%.

Disney last changed its reporting structure in 2020.

Garfield Woolery

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