According to the report, Netflix plans to host a sports live streaming event featuring celebrities from the docuseries “Drive to Survive” and “Full Swing,” which followed professional golfers during the 2022 season. If the deal goes through, this will be Netflix’s first sports live streaming event.
Netflix has been discussing the idea for over a year and is currently in early discussions about a potential tournament, which is reported to begin in September this year.
The streaming giant has primarily concentrated on producing documentary content rather than trying to acquire major-league sports packages. Their popular series “Formula 1 Drive to Survive” has helped increase the popularity of the global racing league.
Has been testing the waters with entertainment events
Netflix has been testing the waters in the live-streaming genre, starting with entertainment events, which received mixed results.
The company’s first attempt at a live event was Chris Rock’s comedy special, which went well in March. However, in April, they encountered problems during a live stream of a reunion episode of their “Love is Blind” reality show. Users experienced an outage that lasted over an hour, which led to an apology from the company. Netflix then decided to record the event and release it the following day instead.
In January, co-CEO Ted Sarandos said that Netflix is not against sports but prioritises profit. The company is open to exploring opportunities and may change its stance in the future. However, Netflix has not yet found a profitable way to bid for big-league sports rights.
Many large streaming platforms, including Apple TV+, Amazon Prime, and Paramount Plus, are now investing in major sports-rights packages, such as football and baseball, to attract new subscribers and boost their advertising revenue.
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