Part 2/7:
The Decline of Bally Sports Networks
Bally Sports, the regional sports network brand, has been rebranded to FanDuel Sports Networks. But the value of these networks has plummeted dramatically in recent years. In 2018, they were estimated to be worth $20 billion. By 2019, that had dropped to $10 billion, then $5 billion in 2020. Now, they are reportedly worth just $600 million - a 97% decline in value since 2018.
This massive drop reflects the challenges facing regional sports networks. Networks like AT&T Sports and Comcast's NBC Sports have been scaling back or shutting down, as the money in regional sports appears to be drying up. It's a stunning collapse for what was once a $20 billion business.