• by Karlene Lukovitz  @KLmarketdaily, June 13, 2023

Netflix may take a new tack to enter the highly competitive and costly arena of livestreamed sports.

The streaming service is in early talks to livestream a new golf tournament that would feature celebrities from two of its own series, the Formula 1 docuseries “Drive to Survive” and “Full Swing,” which followed pro golfers during the 2022 season, according to Wall Street Journal sources.

Netflix has been testing live broadcasting, and held its first livestreamed event on March 4, a Chris Rock comedy special.

It has demonstrated interest in livestreamed sports in the past, including bidding on the streaming rights for the ATP tennis tour in the UK and France (it ultimately dropped out). The company also considered bidding for the UK rights to the Women’s Tennis Association and cycling events, and had discussions about acquiring World Surf League rights.

Live sports are an increasingly critical differentiator in the streaming giants’ battle for new subscribers and advertising, but that benefit can be offset by their extremely high costs, forcing streamers to increase their prices.

Last year, Apple TV+ acquired Major League Soccer streaming rights for 10 years, reportedly with plans to build a live television network, and Amazon snagged NFL “Thursday Night Football” streaming rights.