Sports Media with Richard Deitsch The state of the sports business with Robert Fishman and Michael Nathanson of MoffettNathanson
Aug 26, 2025
In this discussion, Robert Fishman, a senior analyst specializing in sports media, and Michael Nathanson, founding partner at MoffettNathanson, delve into ESPN's bold acquisition of the NFL Network. They analyze how this partnership could bolster ESPN's bargaining power and its implications for Disney. Topics include YouTube's ambitions in sports streaming, the financial intricacies behind major deals, and the evolving landscape of sports broadcasting. They offer valuable insights on the competition between traditional networks and emerging digital platforms.
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Position DTC As Incremental, Not A Replacement
- Treat ESPN's DTC service as incremental to Disney's ecosystem, not a full standalone replacement.
- Robert Fishman advises focusing on using it to attract cord-cutters rather than expecting massive new audiences.
Password Sharing Threatens Sports Revenue
- Password sharing poses a major risk to the value of authenticated sports streaming.
- Michael Nathanson warns platforms must clamp down on sharing to protect revenues when adding premium sports content.
NFL Network Is Leverage, Not Just A Channel
- NFL Network's value lies in bundling and negotiation leverage more than standalone affiliate fees.
- Robert Fishman sees upside from packaging NFL Network alongside ESPN assets in distributor talks.