More Cuts at ESPN

I got a thing on my cable bill about a monthly adjustment on sports fees due to no sports. Assume the big cable companies are taking the regional networks to the cleaners but maybe they’re putting a dent in espn too?

 

Travis loves to bang the drum that liberal politics are hurting sports. My guess is that not being able to milk the theme parks and cruises for cash is a bigger problem for Disney. They lost an entire summer. People aren't going if they're open. Throw in the movie business and really not a shock that Disney is seeking cutbacks across all divisions. I'm guessing total revenue is down about 80 percent since March.

 

ESPN has had layoffs before and then begun hiring almost immediately. I think they use mass layoffs in part as a way to reposition their workforce and dump those they perceive as overpaid or non-performers. Some companies cut the bottom five percent systematically. But making it a mass layoff depersonalizes the firing a bit. And I susopect it reduces the risk of discrimination suits. ESPN can point to the fact that people of all ages and races were fired concurrently.

 

Nike layoffs get underway after weeks of uncertainty

 

That's a pretty good guess and probably close to accurate. The tourism hub in Orlando around Disney is dying. I stayed at a place on International Drive this past weekend and between the Convention Center being out of commission and the lack of International travelers, the place wasn't quite a ghost town, but it should never be as easy to get around Orlando on a Friday after breakfast time as it was this past weekend.

As for Disney, think about it. For the 12-14 weeks of peak summer they would have three parks jammed to capacity every weekend. All their hotel properties full. The water parks. The restaurants. One of the big losses is the Wide World of Sports Complex. Every week they would have a tournament of 40-50 softball teams from around the states and 40-50 lacrosse teams and 40-50 soccer and AAU basketball, etc. etc. All these teams are probably staying on the board and equal about $1,500/head at minimum. So do the math that's about $30K a team for about 100-150 teams...every week. They have lost so much money in so many areas it's mind boggling.

 

Fuck Mickey Mouse.

 

They still make strange decisions that cost them, though. For the White Sox-A's series, they had Dave Flemming broadcasting from a studio in Charlotte instead of a) working from home, b) driving across the Bay Bridge from San Francisco or c) using the same booth he'd used all summer doing Giants radio from Oracle Park. And it sounded like he was on a line a high school station would use.

 

And Disney Cruises, and Disney Broadway shows, and all the traveling shows, and Disney on Ice, and production on new shows for Disney+...

And I know it’s been said but it can’t be overstated the loss at the parks. It’s a whole region of the country designed to every detail to vacuum money out of parents’ pockets from the moment their plane lands to the moment it takes back off. The losses have to be beyond description.

 

I remember earlier this year, Robert Iger's sudden retirement from Disney seemed oddly timed. Usually a lifer at the company who has been CEO for 20 years announces a retirement then takes a few months for a "victory lap" before the official last day. Of course, this was Feb. 25th. He knew what was coming.

 

That WOULD be a nice conspiracy theory IF ONLY Iger hadn’t rescinded his resignation once COVID hit.

 

Incalculable. Think of the loss on merchandise alone.