Sports have been a major part of American broadcasting since the early days of radio. Commercialization of sports that is commonly seen in
One such example is the Walt Disney Co. the world’s largest and entertainment conglomerate based in
In 2007, the company reported a 12 percent rise in quarterly net income on Thursday largely from strong gains at ESPN. Its income for 2007 rose to $4.7 billion from $3.4 billion on revenue of $35.5 billion. Excluding one-time gains from the sale of its stakes in the E! Entertainment cable channel and Us Weekly, revenue jumped 24 percent a share. Revenue for the quarter was largely static — $8.93 billion compared with $8.65 billion a year earlier — in comparison with what had been a spectacular quarter of growth in 2006 across the company’s studio, theme park and consumer products businesses. ESPN was largely responsible for the climb in net income. Higher cable fees and advertising revenue at the sports television unit drove Disney’s cable networks’ operating income up 30 percent to $1.1 billion.
It is followed by another rise in 2009. The company's media networks division, which includes ABC, ESPN and Disney Channel, among other outlets, reported that its revenue jumped 14% to $4.73 billion, while its operating profit increased 26% to $1.49 billion. ESPN was lifted by higher fees paid by cable and satellite operators. ‘Ad revenue at the network declined, but ad sales are showing improvement in the current quarter, said the representative of the company.
Tjide Lisa, Han Rui Yuan, Chee Kai Yi, Angel Chan and David Law