Bally Sports RSNs Are Reportedly Preparing For Bankruptcy

[Bruce]

View: https://x.com/mandybell02/status/1843723748375167314?s=46&t=ipwp-zYuZiSEh9YQRuRmXg

Also the Brewers and Twins.

MLB to produce Guardians, Brewers, Twins broadcasts in 2025

Major League Baseball announced it will handle production and distribution for the Guardians, Brewers, and Twins in 2025.

awfulannouncing.com

 

[comfortably_numb]

View: https://x.com/mandybell02/status/1843723748375167314?s=46&t=ipwp-zYuZiSEh9YQRuRmXg

"Watched on television?" Meaning OTA?

 

[glrush]

Diamond Sports Group disclosure statement approved, paving way for Chapter 11 bankruptcy exit

Diamond Sports Group, parent company of the Bally Sports RSNs, is one step closer to exiting Chapter 11 bankruptcy after a key hearing.

awfulannouncing.com

 

[PioneerDJ]

https://www.cnbc.com/2024/10/16/diamond-fanduel-naming-rights-regional-sports-networks.html

 

[comfortably_numb]

https://www.cnbc.com/2024/10/16/diamond-fanduel-naming-rights-regional-sports-networks.html

So now the RSN's will be Fanduel branded?

First it was Fox.. then Bally.. now this?

 

[Mochuf]

So now the RSN's will be Fanduel branded?

First it was Fox.. then Bally.. now this?

Just putting on a different color of lipstick on the pig.

 

[dishdude]

Just putting on a different color of lipstick on the pig.

Trying to milk these RSNs for everything they can including selling the branding.

 

[comfortably_numb]

Trying to milk these RSNs for everything they can including selling the branding.

I wish they'd just let the RSN's die already.

 

[Bruce]

I wish they'd just let the RSN's die already.

I give it 2-3 years before they are all gone.

Since Cable/Satellite is now up to 8 million lost in 2023, even if that stays the same for 2024/2025/2026, that will be 24 Million gone.

RSNs cannot afford to lose that many per sub fees, will not have enough subscribers supporting the channels.

 

[comfortably_numb]

Which MLB teams are still leaving the RSN's to handle their own broadcasts next season?

 

[lordodogg]

CLE, MIN, and MIL

 

[Bruce]

Which MLB teams are still leaving the RSN's to handle their own broadcasts next season?

CLE, MIN, and MIL

As of now, there will be more.

 

[savarese04]

Comcast sees the writing too. trying to get their team-owned RSNs more exposure while they still can, although NBCSN Bay Area and NBCSN Boston are still doing quite well (comparatively) AFAIK

NBCUniversal Reportedly to Add Regional Sports Networks to Peacock Streaming Service | Cord Cutters News

NBCUniversal is planning to bring its regional sports networks (RSNs) to its Peacock streaming service as early as 2025, according to sources familiar with the matter according to a report from The Wall Street Journal. This move would give Peacock subscribers in select markets access to live...

cordcuttersnews.com

 

[Bruce]

Comcast sees the writing too. trying to get their team-owned RSNs more exposure while they still can, although NBCSN Bay Area and NBCSN Boston are still doing quite well (comparatively) AFAIK

NBCUniversal Reportedly to Add Regional Sports Networks to Peacock Streaming Service | Cord Cutters News

NBCUniversal is planning to bring its regional sports networks (RSNs) to its Peacock streaming service as early as 2025, according to sources familiar with the matter according to a report from The Wall Street Journal. This move would give Peacock subscribers in select markets access to live...

cordcuttersnews.com

What is your evidence that NBCSN Bay Area and NBCSN Boston are still doing quite well?

They are affected ( just like all the other RSNs)by paying too much in rights fees, Cord Cutting and not enough Providers carrying the channels ( which means less paying the per sub fees).

For example, NBCSN Bay Area, paying $92 Million a year to the Giants, yet only getting a low average rating of 64,000 Households.(in 2022), which also affects advertising revenue.

San Francisco Bay Area Household Population ( the viewing area for NBCSN Bay Area) is about 2.9 Million.

That means less than 3% of the area’s population are watching the games.

Baseball’s Most Valuable Teams 2023: Price Tags Are Up 12% Despite Regional TV Woes

Last season’s record revenue for Major League Baseball translated into all-time-high valuations for its teams.

www.forbes.com

 

[glrush]

Analyst details just how bad the RSN business has gotten

CNBC senior sports reporter Mike Ozanian revealed just how much decline the regional sports network business has seen in recent years.

awfulannouncing.com

 

[Bruce]

Analyst details just how bad the RSN business has gotten

CNBC senior sports reporter Mike Ozanian revealed just how much decline the regional sports network business has seen in recent years.

awfulannouncing.com

It is actually worse, right now, only about 27% of the United States Household Population (131M), roughly 36M, receives and pays the per sub fees for the RSNs.

So, if we apply that 27% to the above SF Population, 2.9M x 27%=783,000 Households paying the per sub fees for the RSNs.

So, 783,000 x $7 per sub fee monthly ( guessing at the fee since ESPN is $9 a month, ESPN 2 is $2 a month), that is, roughly, $5.5M a month.

That is only $66M a year they (NBC SF Bay Area) are receiving in per sub fees, the rights fees alone for the Giants is almost $100M a year, then the other Teams Rights Fees that are on that Channel.

There is no way advertising is making up that difference.

 

[savarese04]

What is your evidence that NBCSN Bay Area and NBCSN Boston are still doing quite well?

before immediately going into attack mode, i would suggest improving your reading comprehension. i said "comparatively." That means i'm not saying everything is great. i'm just saying they aren't the dumpster fire Ballys is. Additionally all 3 of those RSNs are team-owned, which means the rights fee isn't exactly 1:1.

 

[Bruce]

before immediately going into attack mode,

Not attacking, just wish more would put links up to prove their point.

i would suggest improving your reading comprehension. i said "comparatively." That means i'm not saying everything is great. i'm just saying they aren't the dumpster fire Ballys is.

I proved, comparatively, they are not doing well with extremely simple math skills.

NBC has tried to sell/get rid of them since 2021, found no one to take them.

Streaming them on Peacock was thought about even then, but that will not save them.

In the three years since they first tried to get rid of them, they have shut down three of the RSNs, Northwest, Washington and now Chicago.

NBC Sports could sell its RSNs or make them available on Peacock

The future of the NBC Sports RSNs is murky. Per the Wall Street Journal, the company has looked into two very different strategies regarding their seven regional sports networks. The first strategy: streaming, of course. Specifically, streaming on Peacock. Early this spring, NBCUniversal planned...

awfulannouncing.com

Additionally all 3 of those RSNs are team-owned,

They are not team owned, just a minority ownership.

For example-

NBC Sports Philadelphia-Comcast owns 75%

NBC Sports Boston-Comcast acquired a majority share from Cablevision in April 2007.

NBC Sports Bay Area-Comcast acquired a majority share from Cablevision in April 2007.

NBC Sports Regional Networks - Wikipedia

en.wikipedia.org

which means the rights fee isn't exactly 1:1.

They are not even taking in what they need to to cover the MLB team’s rights fees with the per sub fees.

Does not matter if you are team owned or 100% by Comcast, the RSNs are losing millions.

Better to shut them down, sell the rights to a OTA station (as a lot are already doing) to make some money, instead of losing 8-9 figures every year.