Disney, Fox and WBD end streaming project

Venu was blocked on the way to the goal.

Disney, Fox and Warner Bros. Discovery said Friday they were scrapping their ambitious plans for a bundled sports streamer that would show all of their game broadcasts and studio programming, citing the need to “meet the evolving needs of sports fans.” “by focusing on existing products and distribution channels.” The decision came after Disney agreed to take a stake in streaming service Fubo and incorporate its live TV service Hulu into it.

“After careful consideration, we have mutually agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” the companies said in a statement. “In an ever-changing market, we have found that the best way to meet the evolving needs of sports fans is to focus on existing products and distribution channels. We are proud of the work done on Venu to date and thank the Venu employees who we will support during this transition period.”

Venu was intended to open a new space in the world of sports media – a standalone streamer that would give subscribers access to all sports from ESPN, Warner and Fox. In total, fans would be able to stream offerings from 14 different television networks, as well as a library of documentaries and other programs from the archives of ESPN, Fox Sports and others. The companies initially charged $42.99 per month for the product, sparking heated debate about whether such a venture could be successful without NFL content distributed through Amazon, NBC and CBS.

The companies were so confident in their plans last spring that they opened commercial inventory to potential advertisers as early as 2024.

By August, however, the playing field had become more complex. Just weeks before Venu’s release, timed to coincide with the start of the 2024 NFL season, a judge blocked the game with an injunction. Fubo, a smaller streaming service with a heavy focus on sports, claimed Venu would “significantly reduce competition and restrict commerce.”

Disney appeared to have resolved the issue earlier this week when Fubo dropped its Venu lawsuit after Disney agreed to buy a 70 percent stake in the company, which runs both its own eponymous service and live TV product , which is currently available through Disney’s Hulu.

However, with this deal, Disney changed the game. The company will soon have a portfolio of products for sports and likely no longer saw a need for Venu. Disney’s ESPN is expected to launch a standalone streamer, known internally as “Flagship,” later this year. The company has also made some ESPN programming available through Disney+ and also has an ESPN+ broadband product.

The new “flagship” is a top priority among Disney’s streaming sports initiatives, according to a person familiar with the matter. Fans who want access to more than just ESPN sports can do so through a range of subscription options, this person says, reducing the need for Venu in the market.

Before it could open, Venu was closed.