Live at the IMG x RedBird Summit: Can Netflix rescue European sports media from a buyer drought?
As European sports media rights stall, Netflix looms as a potential game-changer. Industry heavyweights believe Netflix's move into live sports could ignite a new battle for rights—and reshape the landscape entirely.
The Buying Dilemma
At the IMG x RedBird Summit at the SoHo Farmhouse in Oxfordshire, RedBird’s Jeff Shell laid out the cold truth: European media rights are suffering from a lack of buyers. “There are not a lot of buyers,” he said bluntly. Netflix, having maxed out its subscription base, needs live sports to stay relevant. "Growth through advertising is tough unless you have live sports," Shell pointed out. And in Europe? It’s a “whole new ball game."
Netflix: The Missing Piece?
Netflix has stayed clear of European sports so far, but that's likely to change. Gerry Cardinale, RedBird's founder, believes the streaming wars will drive rights values up. “Major rights trajectory will keep going the way it is,” Cardinale predicted. If Netflix jumps in, expect a bidding frenzy.
Though Netflix hasn't sealed a European sports deal yet, its recent U.S. moves are telling. The NFL, WWE, and even live golf events have started showing up on the platform. Sports could be Netflix's next big pivot, transforming the company's European strategy—and rattling its rivals.
The Streaming Gold Rush
Ari Emanuel, CEO of Endeavor, didn’t mince words: sports is gold for ad-supported platforms. “The greatest content for AVOD is sports,” Emanuel declared. Streaming platforms are scrambling to get a piece of the action, and Netflix could spark a rights explosion. Emanuel added, “Whether Netflix joins or not, others will—and that’s huge for rights holders.”
Winners and Losers
Not all sports will cash in. Emanuel sees a bubble forming around low-rating sports. Cardinale noted the Premier League’s dominance and a growing gap between the “haves and have-nots.” Serie A, for instance, has already seen a 9% drop in domestic rights value. The divide between top-tier and second-tier sports is only getting wider.
Linear TV Isn’t Dead
Despite the streaming hype, Cardinale insists broadcast TV still holds power. “The demise of broadcasting is greatly exaggerated,” he said, noting CBS still draws larger audiences than Netflix on any given night. NBC Sports’ Jon Miller reinforced this, highlighting broadcast TV's doubling reach, even as cable shrinks. The hybrid model—combining streaming with traditional TV—seems like the future.
The Netflix Effect: Coming Soon?
With Netflix dipping its toes into U.S. sports and the European market ripe for disruption, all eyes are on the streaming giant. Will Netflix make the leap into European sports? If they do, it could be a seismic shift in the market. If they don't, others will pounce.
The competition for live sports is about to explode, and Netflix could either fuel the fire—or stand back and watch the sparks fly. Either way, the battle for European sports rights is just beginning.
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