Now Streaming: ESPN announces new rights agreements with NFL, WWE

“Now Streaming” is The Fly’s weekly recap of the stories surrounding the biggest content streamers.

PLAYING THIS WEEKEND: Among this week’s most notable new streaming content is part one of season two of Netflix (NFLX) supernatural comedy series “Wednesday,” which is based on the “Addams Family” franchise. Apple TV+ (AAPL) users can catch the new season of comedy series “Platonic,” starring Seth Rogen and Rose Byrne, while Hulu subscribers can catch the new season of “King of the Hill,” the first new episodes in the series since the show previously ended in 2010. Additionally, Amazon Prime Video (AMZN) subscribers can catch heist action comedy film “The Pickup,” starring Eddie Murphy, Pete Davidson, Keke Palmer, and Eva Longoria.

DISNEY: Disney (DIS) reported better-than-expected Q3 adjusted earnings per share, though revenue was slightly below the Street, with its Entertainment segment reporting a 6% increase in direct-to-consumer revenue. The media giant reported 183M Disney+ and Hulu subscriptions, an increase of 2.6M year-over-year, with just Disney+ subscribers increasing 1.8M to 128M. Looking ahead, Disney also increased its FY25 adjusted earnings guidance, with the company adding that it will no longer report paid subscribers and ARPU metrics, arguing that such metrics have become “less meaningful” to evaluating the performance of its businesses.

Of note, however, Disney’s ESPN said it will launch its new previously announced direct-to-consumer streaming service on Thursday, August 21, bringing the full suite of ESPN networks and services – within an enhanced ESPN App with new, personalized features and functionality – “directly to fans.” Timed for a marquee stretch of live sports programming across ESPN platforms, the launch of ESPN DTC coincides with the start of the college football and NFL seasons, US Open tennis, international soccer, women’s college soccer, volleyball, field hockey, and more – with the start of the WNBA playoffs, PLL playoffs, and NBA and NHL seasons, as well as UFC and WWE events just around the corner. Designed to give fans more choice and flexibility, ESPN DTC will offer two plans, including an unlimited plan for $29.99/month that gives fans access to all of ESPN’s linear networks – ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ESPN Deportes – in addition to ESPN on ABC, ESPN+, ESPN3, SECN+, and ACCNX, covering 47,000 live events each year, on-demand replays, studio shows, original programming, and more. Bundling opportunities for the ESPN unlimited plan with Disney+ and Hulu include a special offer at launch for $29.99/month for the first 12 months.

In more ESPN news, ESPN and the NFL have reached new licensing agreements, extending ESPN’s NFL Draft rights and, separately, adding NFL programming and content to ESPN’s upcoming Direct-to-Consumer service, as well as to Disney+. The agreement also includes the opportunity for fans to bundle ESPN’s DTC service with NFL+ Premium. Beginning with the 2026 NFL Draft, Disney+ and Hulu will also stream ESPN, ABC, and ESPN Deportes’ trio of Draft presentations. All offerings will be available on ESPN’s DTC service. Additional alternate NFL Draft presentations from ESPN will be available on the same streaming platforms, as will a new daily show dedicated to the NFL Draft. The new show, which will air on ESPN2 most days, will launch the day following the Super Bowl and continue through that year’s Draft. More highlights: ESPN and ABC will each produce telecasts for Rounds 1-3 on Thursday and Friday-a staple of ESPN’s presentation since 2019. On Saturday, ESPN will continue to air Rounds 4-7, with ABC simulcasting the network’s coverage. ESPN can add other alternate telecasts across streaming platforms for Rounds 1-7. Premier football shows, College GameDay and NFL Live, will continue to be on-site from the NFL Draft. ESPN Radio will continue its live broadcast of the NFL Draft. Separately, ESPN and the NFL have reached an agreement to expand the NFL experience across ESPN’s DTC service and Disney+. The agreement includes rights for additional NFL content for ESPN as well as robust interactive features to deepen the experience for fans. ESPN’s DTC offering will also stream select out-of-market NFL preseason games during the 2025 and 2026 seasons. ESPN will also be able to sell and bundle NFL+ Premium, the League’s DTC service that launched in 2022, with ESPN’s DTC service, which gives fans the ability to watch NFL Network and NFL RedZone through the NFL+ Premium offering.

Additionally, ESPN and WWE, part of TKO Group Holdings (TKO), announced a landmark rights agreement as ESPN platforms, including the new ESPN direct-to-consumer streaming service, will become the exclusive U.S. domestic home of all WWE Premium Live Events, including the two-night cultural phenomenon WrestleMania, starting in 2026. This deal makes ESPN home to the highest-profile WWE events of the year. The ESPN DTC service will stream all WWE PLEs annually, in their entirety, with select simulcasting on ESPN linear platforms. Marquee PLEs include WrestleMania and SummerSlam – both two-night events – and Royal Rumble, Survivor Series, Money in the Bank, among others. WWE will continue to produce all PLEs.

PARAMOUNT SKYDANCE: On Thursday, Skydance Media and Paramount Global announced the completion of their merger, creating a premier standalone global media and entertainment company, Paramount, a Skydance Corporation. Paramount Class B shares began trading August 7 on the Nasdaq Stock Market under the new ticker symbol “PSKY.”

Following the news, Barclays lowered the firm’s price target on Paramount Skydance (PSKY) to $8 from $12 and maintained an Underweight rating on the shares. The firm updated the price target to reflect the post-deal capital structure, earnings expectations and valuation.

WARNER BROS. DISCOVERY: Warner Bros. Discovery (WBD) reported mixed Q2 results, with global streaming subscribers increasing 3.4M quarter-over-quarter to 125.7M. Streaming revenues rose 8% sequentially ex-foreign exchange to $2.793B as well.

FOX: Fox Corp. (FOXA) reported better-than-expected adjusted earnings per share and revenue for Q4. Along with the earnings announcement, the company said that FOX One, the new wholly-owned direct to consumer streaming service, will launch on August 21 for $19.99 per month or $199.99 annually. This month, FOX One will bring all of FOX’s News, Sports and Entertainment branded content together in one streaming platform. FOX Nation and B1G+ will also be available in the FOX One platform. FOX One will feature AI-powered personalization technologies that integrate live and video on-demand content.

AMC NETWORKS: Meanwhile, AMC Networks (AMCX) also reported upbeat Q2 results, with the company noting that it is seeing “continued momentum” in Amazon Prime Video Channels streaming bundles including AMC+ bundles with AcornTV, Discovery+, Starz and MGM+ in market in 2Q and the new launch of an Acorn TV and MGM+ bundled offering. Additionally, AMC Networks reported that streaming revenues grew 12% year-over-year in Q2 to $169M.

Commenting on the results, CEO Kristin Dolan said, “We are executing our clear strategic plan focused on programming, partnerships and profitability. We remain committed to delivering high-quality and distinctive series and films to our engaged fans across all platforms, including the best collection of targeted streaming services in the world. In the second quarter, we saw streaming revenue growth accelerate, strength in content licensing and continued healthy free cash flow generation. We are increasing our free cash flow outlook for 2025 and now expect approximately $250M of free cash flow for the full year.”

STOCK PLAYS: Other publicly traded companies in the space include FuboTV (FUBO), Comcast (CMCSA), and Roku (ROKU).