Netflix is looking to acquire live sports streaming rights

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After gaming, live sports streaming is the next avenue Netflix is looking to enter.

The information comes via a Deadline report that states Netflix has been working to acquire rights to several leagues and events in the past few months, including “tennis tours as well as a purchaser of the World Surf League.” None of the agreements have gone through yet, according to Deadline.

“Sports is the baseline now, we all know it, and finding the right properties, the right leagues is a priority, but it is always a question of the right league, the right deal,” said a Netflix insider.

The company has also reportedly been looking to bid for rights to lower-profile leagues to avoid high bidding costs, alongside having the belief that it can boost viewership for lesser-known sports by giving them a global platform.

This comes as a result of stalling subscriber growth, and the likes of Disney+, Amazon Prime Video and Apple TV+ eating up its market share. Major League Soccer and Apple announced in June this year that starting in 2023 soccer fans in Canada and the United States will be able to catch all MLS games directly on Apple TV+, until 2032.

To combat the stagnating user growth, Netflix also recently released its $5.99/month ‘Netflix Basic with Ads’ subscription tier to attract casual streamers to join the platform. Learn more about the cheaper subscription tier here.

As of writing, Netflix’s share is trading 63 percent below its all-time high in November 2021.

Source: Deadline

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