ESPN+, Walt Disney Co’s sports video streaming service, could attract between 8 million and 12 million paying subscribers by the end of the fiscal 2024 year, the company said yesterday.

Disney’s forecast for significant growth in paying customers in the next few years was disclosed in a presentation of its streaming video strategy to Wall Street.

Reuters reports:

Operating losses for ESPN+ are expected to be $650 million annually in both fiscal 2019 and 2020, Disney’s chief financial officer, Christine McCarthy, said during an investor day webcast presentation. But the service, which launched one year ago, should reach profitability by 2023, she said.

“I view this positively because I think that they need to illustrate the subscriber growth to validate the investment. They’re putting out some very strong number guides to the market,” said Patrice Cucinello, a director at Fitch Ratings. “They’re going guns blazing at direct consumer.”

As cable and traditional media companies lose subscribers to the likes of Netflix Inc, they are building new streaming video businesses that appeal directly to consumers.

Disney launched ESPN+ a year ago as a way to test its streaming services and distribute additional sports content directly to fans, for a monthly or yearly fee.

Since then, ESPN+ has drawn millions of subscribers, inked sports rights deals, and seen its mobile app rise in popularity. Disney is also moving forward with its larger plans for Disney+, which will stream its trove of new and classic blockbuster movies.

As for current paying sports fans, Disney said the number was currently over 2 million, or roughly what it disclosed in February.

Disney’s own estimates about ESPN+ growth seemed slightly higher than analysts, though its time frame was longer.

Morgan Stanley analysts expect 2.7 million people to be paying for ESPN+ access by the end of fiscal 2019 and 3.9 million by the end of fiscal 2020. By 2022, it could have 6.7 million, Morgan Stanley said.

The United States Olympic Committee’s Director of Sport Technology and Innovation will deliver the keynote address at the 2019 Yahoo Sports Technology Awards ceremony.

Dr Phil Cheetham will open the event taking place on May 2^nd at 6.30 pm at the Roundhouse in Camden, London.

His speech, entitled ‘Silicon Valley Giants Are a Serious Force in Sports Technology,’ will share how the USOC has partnered with executives from leading tech brands to create an investment fund, and how this approach could be the future force shaping the sector.

Cheetham was an Olympian in gymnastics and has been a leading innovator in biomechanics. His role at the USOC is to develop technology to help optimize Team USA athletes’ performance and recovery and help allocate funds donated by the USOC’s Technology and Innovation Advisory Board.

As well as being the leading global celebration of tech-led innovations in sport, the Yahoo Sports Technology Awards, part of the Sports Technology Awards Group, is also a valued forum for insights and networking, and the ceremony opening address is a key part of this.

Rebecca Hopkins, CEO of the Sports Technology Awards Group, said: “Technology can reasonably claim to be the biggest factor changing sports over the past 10 years, now tech-giant investment looks set to be the next major influence on industry development and market disruption.”

“Silicon Valley engagement is something of a Holy Grail for many sports executives so understanding how to harness the technical and financial power of technology’s biggest brands is fascinating. Sports leaders and visionaries will be excellently served by the insights Phil has to share.”

Cheetham added: “I’m a long-standing, passionate advocate of technology’s role in helping athletes, so it is exciting to take this to the next level. The executives at the top of Silicon Valley have unrivalled tech knowledge and this, combined with access to their level of funding, will be immensely beneficial for both business and sport. I am looking forward to sharing these insights with my peers at the Awards.”

Lancashire Cricket has teamed up with Rewards4Cricket, a rewards programme dedicated to cricket fans, ahead of the 2019 season as the Club continues to strengthen fan engagement and benefit programmes for Members and supporters of the Red Rose.

The Rewards4Cricket programme, operated by the UK’s largest operator of sports-based rewards programmes (Rewards4), is initially focused on providing new ways to reward supporters for their loyalty when purchasing tickets and Memberships at Emirates Old Trafford.

With over 4,500 retail and high street partners, the Rewards4Cricket programme enables loyal cricket fans and supporters to collect points on their everyday spending and redeem these against the cost of Memberships, match day tickets, and merchandise in Lancashire’s Official Store.

The Club and Rewards4Cricket will work together to grow a database of engaged fans from the wider community in the North West by providing the opportunity to win some great cricket experiences as well as saving money when watching Lancashire or England at Emirates Old Trafford.

Jonathon Nuttall, Lancashire Cricket’s Head of Ticketing & Digital Systems, said: “Our Members and supporters are at the heart of everything we do. Their loyalty to the Club over the years has been incredible and we always strive to reward that commitment by providing them with the best possible experience.

“Creating a rewards and loyalty scheme for our supporters has been a priority since engaging with our new ticketing supplier, SecuTix. It made perfect sense for us to partner with Rewards4Cricket, the UK’s market leader in sports rewards, through their integrated system.”

“We’re delighted to be working with Rewards4Cricket to introduce an award-winning platform which will offer our fans fantastic rewards and an opportunity to make great savings on their international, domestic and Vitality Blast tickets, Lancashire Memberships as well as the Kia Super League. We are also looking forward to welcoming new cricket fans to the Club from the wider Rewards4Cricket membership base.”

The Red Rose joins other counties including Durham, Hampshire, Worcestershire, Glamorgan and Warwickshire who currently work with Rewards4Cricket.

Tom Cowgill, Director and Co-Founder of Rewards4Cricket, said: “Our Rewards4Cricket membership is growing rapidly and partnering with Lancashire Cricket not only enables us to welcome and reward their Members and supporters but also provides our existing members with another great redemption opportunity.

“We’ve managed to secure a unique position in providing unprecedented ways to reward fan engagement and county cricket clubs are recognising that they can benefit from this. Rewarding devoted fans by turning everyday spending into savings is proving to be a compelling concept for many, especially when it can be achieved at no cost to the club or county.

“We’re looking forward to welcoming Lancashire supporters to the Rewards4Cricket programme and helping them to use their points to buy tickets and Memberships, so they can enjoy even more unforgettable experiences at Emirates Old Trafford.”

PepsiCo, Inc. and the Indianapolis Motor Speedway announced a multi-year partnership Thursday making Pepsi and MTN DEW become the Official Soda Beverages of the home of the Indianapolis 500.

Pepsi replaces long-time IMS partner Coke as the exclusive partner at the 400,000-capacity venue.

Pepsi’s brand Aquafina will also become the Official Water of IMS starting with the 2019 season.

PepsiCo products will be served exclusively at concession stands and in suites throughout starting with the INDYCAR Grand Prix on May 11 and 103^rd Indy 500 takes place on May 26.

“PepsiCo products are a perfect complement to events at the Indianapolis Motor Speedway, and Pepsi’s market activation and consumer focus make for an exciting partnership,” said IMS President J. Douglas Boles.

“The PepsiCo line of beverages are enjoyed worldwide and is an excellent match for the global reach of elite events at IMS.”