Pete Distad to Lead Disney, Fox, Warner's Sports Streaming Service as CEO
Pete Distad has been appointed CEO of an unnamed sports streaming joint venture backed by Disney, Fox, and Warner Bros. Discovery. Distad brings a wealth of experience from his previous roles, which include executive positions at Apple and Hulu. In his new position, Distad will manage all facets of the venture, such as strategy, distribution, marketing, and sales.
The service, expected to launch in fall 2024, aims to address the shift of viewers from traditional linear TV to streaming platforms. It will feature content from linear sports networks like ESPN, FOX, and Warner Bros. Discovery's channels, covering major sports leagues and college sports. The venture, which seeks to attract a significant audience outside of the cable bundle, anticipates reaching 5 million subscribers within its first five years.
Each participating media company will own an equal share of the joint venture and have equal board representation. They will also license their sports content to the service on a non-exclusive basis. Distad's leadership will be critical as the venture prepares to enter the competitive streaming market with a sports-centric focus. Details on the service's name, pricing, and specific offerings are still forthcoming.
