Netflix has been a leader in the world of streaming entertainment, and its eclectic array of scripted series, movies, and documentaries have hooked audiences around the globe. However, 2024 marked a pivotal year for the platform as it ventured into live sports, broadcasting two Christmas Day National Football League (NFL) games. This same step, in addition to a collaborative partnership with World Wrestling Entertainment (WWE) and the acquisition of U.S. broadcast rights for 2027 and 2031 Women’s World Cup, reflects Netflix’ new ambition to be at the top of the live sports streaming market.
From Streaming to Live Sports: A Strategic Shift
Netflix’s entry into live sports surprised many, given its previous reluctance. Recently late 2022, co-CEO Ted Sarandos shut down the discussion of sports rights acquisition by saying, “We are not anti-sports. We’re just pro-profit.” Nevertheless, the release of an ad-supported subscription model in November 2022 changed the game in Netflix’s view.
Jochen Losch, CEO, JL Sports Investment, pointed out that live sport is unequalled in attracting large audiences and delivering “appointment TV” viewing experiences. Netflix also understood that live sports get viewers in a way no other content does,” added Losch.
Global Reach and Financial Muscle
Holding 283 million global subscribers and a $17 billion annual content budget, Netflix has considerable power to buy live sports rights. Its partnership with the NFL underscores this advantage. The App broadcast 2 Christmas Day games in 2024 (with the Kansas City Chiefs, Pittsburgh Steelers, Baltimore Ravens, and Houston Texans).
These games attracted over 30 million viewers globally, spanning 218 countries and territories. This partnership also gave the NFL unprecedented reach, with more than a billion impressions on both Netflix and @NFL social media channels.
General Manager, NFL Germany, Alexander Steinforth, said, “Given Netflix’s widespread distribution and Christmas as their prime day, there was a perfect alignment between the NFL and Netflix for the ambitions of the NFL on a global scale.
WWE Partnership: A Colossal Deal
Moreover, in a further major innovation, Netflix acquired a $5 billion contract with WWE to broadcast live wrestling encounters, such as Monday Night Raw, from January 2025. WWE’s dedicated fanbase proved to be a compelling factor, with the debut broadcast of Monday Night Raw attracting 4.9 million global viewers.
Paul Levesque, WWE’s Chief Content Officer, called the partnership “as colossal as WrestleMania. Netflix recognized WWE’s appeal, especially among families and younger audiences. WWE fits in perfectly at Netflix’s arc of dramatic and captivating entertainment,” one company spokesperson said.
The WWE partnership also leverages Netflix’s demographic of 18- to 34-year-olds. WWE boasts the No. 1 youtube based sports channel with the most subscribers and lifetime video views, and more than 1 billion social media followers.
Competing in a Crowded Arena
In the arrival of Netflix into live sports, other platform such as Amazon, and Apple TV have already secured themselves. Amazon, for instance, broadcasts English Premier League and Champions League matches in Europe, while Apple TV holds exclusive global rights for Major League Soccer (MLS).
Notwithstanding, Netflix’s global footprint and disruptive content model differentiate Netflix. Through the inclusion of live sports, Netflix seeks to develop “unmissable live events”, which evoke the senses regardless of demographics and geography.
The Future of Netflix’s Sports Ambitions
Netflix’s foray into live sports has already achieved several milestones, such as, smashing viewership records for the NFL games, and successfully bringing WWE content on board. The corporation’s commitment to providing subscribers and rights owners with value positions it as a strong contender for the live sports market.
The platform’s spokesperson summed it up: “We want to continue creating global watercooler moments with unmissable live events.”
During a growingly competitive streaming environment, Netflix’s approach to live sports is a potential paradigm shifter for the future of sports programing and may lead to its next blockbuster.
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