ESPN's Lucrative Sports Business Delivers $16B Revenue and $2.9B Profit for Disney

ESPN delivered $16 billion in revenue and $2.9 billion in profit for Disney in fiscal 2022, showing how lucrative sports business is.

ESPN will now have its own division within Disney's new reporting structure, separating it from other TV networks.

Most of ESPN's revenue comes from pay TV carriage fees ($10.1 billion) compared to advertising ($4.4 billion).

ESPN's profit margin is much higher than Disney's broader entertainment division, which includes streaming losses.

Disney is looking for partners to take minority stakes in ESPN as it plans an ESPN streaming service.