- Disney (NYSE:DIS) says ESPN lost ~2M subscribers in FY 2016, marking the lowest number of subscribers for the sports network since 2005, according to an SEC filing.
- ESPN subscriptions fell by 2.2% to 90M for the third straight annual decline, but it's at least a slower rate of decline than 2015's 3.2% fall to 92M and 2014's 4% slide to 95M after peaking at 99M in 2013.
- Declining income at ESPN weighed on the company's Q4 results earlier this month, as operating income at DIS cable networks fell 13% Y/Y to $1.45B, including a 13% drop in ESPN ad revenue.