🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Netflix nears deal for NFL games, Bloomberg News reports

Published 15/05/2024, 11:42 pm
© Reuters. FILE PHOTO: The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
AAPL
-
AMZN
-
NFLX
-

(Reuters) -Netflix is finalizing a deal to buy exclusive rights to stream two National Football League (NFL) games on Christmas Day, Bloomberg News reported on Wednesday, doubling down on efforts to add more live programming on its streaming services.

The company will pay less than $150 million per game, the report said, citing people familiar with the matter.

A potential deal will be the first time that Netflix (NASDAQ:NFLX) has licensed the rights to one of the world's biggest sports leagues and also the first time it would show live football.

The NFL plans to announce its 2024-25 schedule on Wednesday.

Netflix and NFL did not immediately respond to Reuters requests for comment.

Netflix has turned to live events and sports to retain users as streaming growth saturates in top market U.S. and also help build out its advertising business seen as a crucial driver of growth.

It signed a more than $5 billion rights deal in January to be the exclusive home of World Wrestling Entertainment's RAW from 2025. It also live-streamed a tennis face-off between Rafael Nadal and Carlos Alcaraz in March.

© Reuters. FILE PHOTO: The Netflix logo is seen on a TV remote controller, in this illustration taken January 20, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Still, the NFL potential would mark a new territory for the company that just last year suggested that it did not plan to compete for sports rights as it was hard to see a return on billions of dollars of investment in live sports.

Its rivals, meanwhile, have pounced on rights to big sports leagues in recent years. Amazon (NASDAQ:AMZN) Prime holds rights to Thursday Night Football and Apple (NASDAQ:AAPL) TV+ hosts Friday Night Baseball and Major League Soccer.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.