Netflix Expands into Live Sports Broadcasting

omidbasir- Netflix is intensifying its presence in the live sports arena, committing nearly £4 billion ($5 billion) to acquire rights for WWE and stream major boxing events. Following Paramount’s recent acquisition of Champions League rights in the UK for a reported £1 billion ($1.3 billion), Netflix is poised to compete with Sky and TNT for domestic Premier League contracts, as reported by The Times.

Moreover, the streaming giant is anticipated to challenge NBC for the rights to the English Premier League in the United States. According to the report, the current domestic broadcasting agreements are set to expire in 2029, while NBC’s contract concludes a year earlier, valued at $2 billion (£1.5 billion), making it the Premier League’s largest overseas deal. Proposals for the next broadcasting packages are expected to be submitted within the coming year.

A source mentioned to The Times, “The critical aspect for football—both in European leagues and domestically—is that Netflix has demonstrated its interest in acquiring broadcasting rights. Coupled with Paramount’s entry into the market, this heralds positive news for football as it fosters increased competition for rights. The Premier League is recognized as the most enticing domestic league globally, making its rights a prime target for both Netflix and Paramount.”

Additionally, UEFA has shown enthusiasm for the involvement of platforms like Netflix and Disney in the broadcasting landscape. UEFA President Aleksander Ceferin has emphasized the organization’s commitment to innovating media rights during the European Football Clubs General Assembly in October. He remarked, “Through this joint venture, the game will grow. With the marketing agency Relevent by our side, we possess the strongest team to realize this vision. We are collectively building something distinctive, ambitious, and aimed at delivering the most engaging and innovative football experience. Our goal is to broaden our core revenue streams, attract new fans to our competitions, and enhance engagement with diverse audiences, especially within the dynamic media and streaming rights environment. By leveraging digital platforms, we will bring the game closer than ever to everyone, thereby fortifying our clubs and maintaining European football at the pinnacle.”

Netflix has previously achieved notable success in live sports streaming, attracting 65 million viewers for the Jake Paul vs. Mike Tyson boxing match in 2024. While the platform holds rights for the Women’s World Cup in 2027 and 2031 in the United States, it remains to be seen whether it can secure rights for men’s football.