Cable TV sports giant ESPN is teetering on the edge of financial collapse after 11.5 million mostly Republican subscribers canceled subscriptions, disgusted with the sports broadcaster’s hard-left political deep state provocations.
What is happening with ESPN, and why is it important? As Clay Travis of the sports website Outkick the Coverage explains, the main ESPN business plan, the one that brings in the most revenues to the firm, is doomed to near-extinction, and there is nothing ESPN can do about it.
ESPN has lost over a billion dollars in cable and satellite revenue just in the past five years, an average of $200 million each year.
American consumers simply do not appreciate a sports channel preaching hard-left politics. It sticks in the craw. Even Democrat subscribers have complained that ESPN has lost the plot.
ESPN is spending over $8 billion on sporting rights this year and by 2021 I believe they will be losing money regardless of how many people they fire. ESPN can’t fire employees into profitability.
It’s just not possible. These firings are going to become a yearly thing and they still are not going to prevent the business from dying.
Liberals deep within ESPN have politicized and destroyed the once proud sports channel. If the powerful reaction of their audience does not wake them up from their delusions, they soon won’t have an audience, or a business, at all.
News Punch / ABC Flash Point News 2019.