ESPN will expand its “Electronics prototyped platforms” business into digital and digital-only business segments in an effort to grow its digital business and become a more valuable partner for advertisers, according to a new document.
The new business will be led by the company’s digital integration platform with ESPN Digital and ESPN Digital Publishing, which will focus on providing digital marketing and advertising solutions.
The company will also develop and implement new digital solutions to help advertisers and businesses connect more effectively.ESPN has been a digital marketing powerhouse since its inception in 2005.
It currently operates in nearly 200 markets worldwide and has nearly 2,000 digital products and services available for advertisers.
The news comes as ESPN has been in a long-term struggle to grow revenue and expand its reach in digital.
In February, the company reported its second-quarter loss, citing the impact of a decline in digital advertising revenue.
ESPN reported $7.8 billion in revenue and earnings per share of $2.43 on $24.7 billion in net income.
The news comes after the company lost $5.5 billion in the second quarter.ESPN and ESPN Deportes also said on Monday that they have agreed to pay $8.2 million in cash and $1.4 million in stock for each of their 10 employees, which is the largest compensation payout for a sports network in the country.