ESPN was a pioneer of the traditional pay TV bundle, which has been a business goldmine for decades. On Thursday, it will take a big step in adapting to the system rapidly replacing that one.

At 12:01 a.m., it will launch its new, streaming, direct-to-consumer product — called, simply, “ESPN” — which for the first time will allow sports fans legally to access the network’s top attractions without doing so through a cable, satellite or other distributor.

“Since 1979, we’ve really redefined what’s possible in sports media,” ESPN chairman Jimmy Pitaro said on Tuesday at a media event in Manhattan to introduce the new product. “Today, we are on the verge of another industry-shaping moment.”

The initial price is $29.99 per month, including an introductory perk — a bundle with Disney+ and Hul

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