NBA Viewership Is Up: Why That's Good News for Disney

Walt Disney (NYSE: DIS) has just gone through a devastating 15 months. The coronavirus pandemic forced it to temporarily close its doors on theme parks, resorts, cruise ships, and shops.

This time would likely have been even more awful if it weren't for the success of its streaming services and consistent profits from its media segment. Disney+ was perhaps the most perfectly timed business launch of all time, in November of 2019. Since then, it has accumulated over 100 million subscribers. Still, the streaming service is losing money as the company invests in building it out and expanding it internationally.

The saving grace for operating profits has been Disney's media segment. That segment includes ESPN and ABC, which are home to many National Basketball Association broadcasts.

Source Fool.com