The value of global sports TV contracts is set to reach US$62.4 billion this year. The NFL alone accounts for ~20% of that total.
Driving the news: After years of swearing it wouldn’t touch live sports, Netflix is writing a big cheque for the white whale of broadcasting rights. The streamer is probably good for the cash after hitting 40 million monthly users for its ad-supported subscription tier yesterday.
What happened: Netflix is adding to its roster of holiday rom-coms and bringing subscribers two NFL games on Christmas Day this year, plus at least one Christmas game in 2025 and 2026. It’s the streamer's first exclusive rights deal with a major sports league.
- Netflix reportedly paid less than $150 million for this year’s games (talk about a bargain) and will have options to pick up more holiday games.
- Last year’s Christmas Day saw 29.2 million viewers tune in for the Las Vegas Raiders and Kansas City Chiefs game, setting a viewership record for the holiday.
Why it matters: Between Netflix’s new deal, Amazon Prime’s rights to Thursday Night Football, and NBC putting games exclusively on its streaming platform, catching the game is turning into a Where’s Waldo of pricey subscription services and cable bundles.—LA