Disney Cable Channel ESPN Loses Three Million Subscribers In A Year

The reason why ESPN fired hundreds of employees is now crystal clear as the sports network has lost seven million subscribers over the last two years.

Subscribers to the global Disney Channels meanwhile rose from 172 million to 195 million.

CNN Money adds that Walt Disney’s Lifetime and A&E have also lost six million subscribers each and the History Channel has lost five million.

Disney (DIS) is lower Friday, after filings its annual 10k report late Wednesday, which showed a decline in ESPN subscribers. That’s down from 95 million a year earlier and 99 million in 2013.

The sub losses, discussed but not quantified by Disney CEO Bob Iger during Disney’s third-quarter earnings call in August, sent media stock reeling by raising investor concerns that cord-cutting, cord-shaving and cord nevers were having a significant impact on the highly profitable pay-TV ecosystem.

Walt Disney’s stock declined, followed by stocks in the industry, after Iger’s statement.

Disney joins it rivals in struggling against the trend toward media streaming that has battered media stocks for the past year.

Separately, TheStreet Ratings team rates DISNEY (WALT) CO as a Buy with a ratings score of A+.

The Hollywood Reporter adds that the cable company’s shares have actually risen one percent on Wednesday.

Disney Pixar’s “The Good Dinosaur” opens this weekend.

ESPN’s main rival, Fox Sports Net, boasted about 89 million subscribers in its fiscal year ended July 30, down from 91 million subscribers in the previous 12-month period, according to its regulatory filings.