Netflix Scores First Exclusive Live Sports deal with WBC, MLB Rights Deals Loom
Netflix has made a important move into live sports broadcasting, securing exclusive rights to stream the World Baseball Classic (WBC) in Japan. This marks the first time the streaming giant has held exclusive rights for a live sporting event within a specific country, signaling a broader strategy to attract new audiences through sports content. The WBC is jointly owned by Major League Baseball (MLB) and the MLB Players Association,featuring national teams in a high-profile tournament.
This foray into live sports builds on Netflix’s existing relationship with MLB, wich includes several baseball documentaries. Industry observers speculate the company may also pursue rights for the home Run Derby, currently broadcast by ESPN, as that agreement nears its end.
The Japanese market is particularly attractive, fueled by the immense popularity of Shohei Ohtani of the Los Angeles Dodgers. During the 2023 WBC, six of Japan’s seven games drew over 30 million viewers, rivaling Super Bowl viewership numbers in the united States.
NBCUniversal Eyes $200 Million MLB Deal
Meanwhile, Major League Baseball is negotiating new rights agreements with various media companies, possibly generating considerable revenue increases. NBCUniversal, a subsidiary of Comcast Corporation (NASDAQ: CMCSA), is reportedly close to finalizing a three-year agreement worth approximately $200 million annually to broadcast MLB games on its network and stream them on Peacock.
Netflix Celebrates Box Office Success Amidst european Scrutiny
Netflix recently reported strong quarterly results and positive revenue projections. The company also achieved a milestone with ”Kpop Demon Hunters,” its first film to top the North American box office, earning around $18 million despite being shown in fewer theaters than its competitors.
Though, Netflix faces regulatory challenges in europe. The Polish competition and consumer protection office is investigating the company regarding alleged unauthorized subscription price increases.
According to Benzinga Edge Stock Rankings, Netflix currently boasts a growth score of 83.36% and a momentum score of 89.35%. Link to benzinga edge rankings provides a comparative analysis against other major media companies.
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