9 November 2022 | Trades

Netflix is looking at the possibility to stream sports

Netflix Inc. has applied for rights to broadcast sports leagues. The company is exploring the possibility of investing in sports broadcasting. This is reported by the Wall Street Journal, referring to sources informed on the topic.

The report reflects an application for the rights to transmit ATP tennis tournaments in some European countries, including France and Great Britain. The company wondered about it recently, but dropped the idea for a while.

Applications for rights in other events have also been in the discussion. For example, according to the WSJ, last year the company was negotiating to acquire the World Surf League. This year, the rights to stream Women's Tennis Association (WTA) tournaments and cycling events in the U.K. were discussed.

The report shows that Netflix executives had an opportunity to buy lesser-known sports leagues to reduce the cost of participating in tenders for broadcast rights. On the other hand, some people believe that the size of Netflix's streaming platform is large and the company could promote some lesser known sports.

Netflix is looking for any ways to increase the number of new subscribers as it faces increased competition from Walt Disney, Apple and Amazon. Live sports broadcasts could help to increase market share for other streaming platforms as well.

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