More layoffs coming at ESPN as 38 per cent sales decline continues
Less and less people are watching sports on cable television. ESPN, a sport cable network, has lost 14 million homes in just six years. It continues to lose 10,000 subscribers a day. In 2011, ESPN peaked at $100 million. It is $86 million now.
ESPN laid off 100 persons in April. Fourteen months ago, the network laid off 300.
ESPN revenues have dropped to $4 billion from $6.4 million in 2014, according to Bloomberg, the world's largest business news organization. That's a decline of 38 per cent.
Sports viewing is down on every channel and network except Fox Sports 2. Their increase was one-half of one per cent.