Proposed sports streaming app Venu won't launch after all

Venu Sports, the proposed streaming platform that bundled content from ESPN, Fox and Warner Bros. Discovery, is no more.

“After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” the parent companies of the three entities said in a joint statement. “In an ever-changing marketplace, we determined that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels. We are proud of the work that has been done on Venu to date and grateful to the Venu staff, whom we will support through this transition period.”

Venu was announced in Feb. 2024 with Disney, Fox and Warner Bros. Discovery each owning a one-third stake. Competitor FuboTV quickly filed a lawsuit against Venu parent companies seeking to block the launch of Venu. When Fubo and Hulu + Live TV combined forces last week, Fubo asked a U.S. District court in Manhattan to dismiss the suit.

Many saw that dismissal as a precursor to Venu finally launching. Instead, it represented the tip of a potential legal iceberg. Reuters reported Friday that satellite TV providers Dish, parent EchoStar, and DirecTV sent letters to the federal district court judge arguing the settlement did nothing to resolve the underlying antitrust issues for competitors.

According to The Hollywood Reporter, "a source familiar with the decision says that the move to unwind Venu was made in the last few days, and that the legal limbo contemplated by the satellite companies played a role."

As for what's next, ESPN is already planning to launch a "flagship" streaming service of its own in 2025. Could the Worldwide Leader end up partnering with WBD and/or Fox on a new streaming bundle plan?

Puck’s Matthew Belloni suggested ESPN might “supercharge the offering with Fox Sports, whose combo of the NFL and college football, World Series baseball, and much more would give (ESPN's flagship app) more than $15 billion worth of sports rights in one service. Wells Fargo analyst Steven Cahall has been predicting this for a while — in December, he wrote that an ESPN-Fox combo could lead to 3 million subs for Flagship by the end of the year.”

For consumers already lost in the maze of streaming options, Friday's news should go down easy. Venu is the rare sports streaming service whose subscription you'll never have to cancel. It never offered a subscription in the first place.

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