Netflix Might Try This Important Move to Compete With Amazon, Apple
Published 10:19 am Tuesday, May 30, 2023
- Netflix Might Try This Important Move to Compete With Amazon, Apple
The streaming wars continue with live sports rights continuing to be a key driver for positioning among the platforms.
Netflix has yet to venture into the space, but with a new media rights deal looming for the NBA, Netflix could position itself for a limited number of games in an attempt to kickstart live sports on the streaming service, sources told Bloomberg.
The NBA’s current deal with Disney and Warner Bros. is worth around $2.7 billion per year and expires after the 2024-25 season.
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However, Bloomberg also reported that the assumption that Netflix would bid for NBA rights is “not accurate.”
Netflix has already explored sports media rights in the past, most notably for Formula One in the US last year. It also reportedly bid for rights to air the ATP and WTA, the two lead tennis tours for men and women, in some European countries like France and the UK.
But Netflix has still not committed to live sports streaming the way its competitors have.
Amazon (AMZN) – Get Free Report has invested billions into the NFL over the last two years alone on top of other limited rights to leagues like the English Premier League and WNBA. Amazon could be the biggest competitor for the NBA media rights should the league seek additional partners, according to Bloomberg.
Apple (AAPL) – Get Free Report has also leaned into sports with its $2.5 billion deal with Major League Soccer that runs for the next 10 years. It also has a deal with the MLB worth $85 million annually.
Netflix has seen success with sports in other ways — most notably with its Formula One: Drive To Survive docuseries that many have credited for the boom in popularity of the top motorsport league. But Netflix has yet to venture into live streaming, and it recently had a disastrous attempt at live streaming during a special for the hit reality show “Love Is Blind” in April.