As ESPN’s first true foray into streaming (no offense to ESPN+, now rechristened ESPN Select) notches its first full month, industry watchers are straining to perceive any early indications for its long-term projects. Will it be a success or an expensive flop? Have the once-ancillary parts of sports fandom, like fantasy and gambling, been enough to drive daily engagement? And perhaps most importantly for Jimmy Pitaro and Bob Iger, how much will the app offset the declining linear TV business? A decade ago, ESPN reached more than 90 million homes; today, it’s in about 65 million homes between linear and streaming, with the commensurate decline in affiliate fees that entails. Although Disney’s streaming business has grown steadily since Disney+ launched in 2019, the profit margins on its direct-to-consumer products are far from those previously generated by ESPN and Disney’s other cable networks.