The company bid on the streaming rights for the ATP tennis tour in the UK and France, but ultimately dropped out. It also considered bidding for the UK rights to the Women’s Tennis Association and cycling events, and had discussions about acquiring the World Surf League.
Live sports are an increasingly critical differentiator in the streaming giants’ battle for new subscribers, but that benefit can be offset by their extremely high costs, forcing streamers to increase their prices.
Some Netflix executives reportedly believe that buying less expensive, lower-profile franchise rights, and using the platform’s huge reach to build audiences for those, is the best strategy.
Last month, Disney and Formula 1 extended their deal for broadcasting the races until 2025, and expanded streaming rights.
Having signed a 10-year deal for Major League Soccer streaming on Apple TV+ in June, Apple now reportedly plans to build a live television ad network to support that investment.