Netflix may have pioneered on-demand streaming, or at the very least, it has become synonymous with it. After all, the phrase “Netflix & chill” was not born out of the blue. Now, though, the company is playing catch-up when it comes to offering sports streams, something that MAX, HBO’s streaming rival, has been one step ahead already.
Netflix Plays Catch-up in Sports Streaming
Nevertheless, Netflix has proven to be a quick study signing a $150-million deal to acquire the rights to broadcast the two NFL games on Christmas Day, clearly marking the company’s zeal to become the one-stop-shop for all entertainment, whether you want to binge-watch a critically-acclaimed show or enjoy your favorite sports broadcast.
Securing the rights to broadcast the Jake Paul versus Mike Tyson is a coup of great importance to the company. Netflix is broadcasting the fight on Friday, November 15, 2024, mere hours from the time of publishing this piece.
Now, though the platform wants to be seen as a more traditional go-to option for sports-watching experiences that cover regular seasons, not just hyped-up one-time specials.
Netflix is moving forward with the Christmas Day NFL games in collaboration with Flutter Entertainment, specifically, the company’s FanDuel brand, which dominates the sports betting space, or at least holds an estimated 43% of the market and is in bitter competition with DraftKings.
Flutter Entertainment CEO Peter Jackson has welcomed the opportunity to team up with Netflix to bring the two games to millions of Americans and said that the coverage will feature a pre-game segment that will come with odds and predictions about the upcoming games, all courtesy of FanDuel.
Netflix’s Gamble on Sports Streams Is Costly But Bold
With Jake Paul vs Mike Tyson airing in several hours, and the upcoming streaming of the NFL games, Netflix is palpably making a move into the sports streaming space. Bettors are already keen to get in on the action.
Yet, broadcasting rights do cost a fair penny, and the incumbents are unlikely to give ground easily, as traditional broadcast rights holders are feeling the pinch of falling viewership which has escaped to the arguably more convenient on-demand platforms.
Netflix is already driving forays, however. FanDuel is betting that the smart money is on making sure that on-demand platforms are backed in the process.