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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

(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.

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