- Netflix CEO Reed Hastings has announced that Netflix’s next step will be to stream sports events.
- The idea is to get the broadcasting rights to Formula 1
- For this, the streaming platform requires that it be the only site with F1 rights
According to Reed Hastings, CEO of Netflix, the next step for the streaming platform will be the live streaming of sports events.
It seems like every day we witness the great power of streaming platforms and as a result, we see how TV lags more before more content comes out and more sites like Netflix, HBO Max, etc. .
And that, in fact, has been something that has been seen to happen ever since platforms like Netflix started popping up among consumer preferences.
This is due to the huge stock of series and movies that, without a doubt, replace even pay-TV.
Sports on broadcast platforms
Now, in addition to their traditional content, these platforms are turning into another window: sporting events. If we take into account the popularity they have gained, it seems that the natural move was the sport.
This year, for example, HBO Max snatched the UEFA Champions League from ESPN and Fox Sports, the networks that had taken over the rights to the UEFA Europa Conference League, the new competition for European clubs.
While it’s true that UEFA Champions League matches are also broadcast on TNT and Cinemax, what’s most remarkable is how the streaming platform has won the rights to one of the sport’s most appealing events to fans.
This fact, without a doubt, has opened up a wide range of possibilities for other streaming platforms to decide to join the vast world of sports, and it seems that Netflix is developing a very exciting strategy.
According to Netflix director Reed Hastings himself, the idea is for Formula 1 to come to the popular streaming platform. At the very least, it will try to get the broadcasting rights next year. He revealed this to Der Spiegel:
“A few years ago, the Formula 1 rights were sold. At that time we were not among the bidders; today we will consider it.”
Why Formula 1?
Why Formula 1? In fact, when parsed well, it seems to be a logical experiment if we consider the response the string got “Driving to Survive”, which has been released so far three seasons.
In fact, thanks to the popularity generated by the movie “Drive to Survive,” Formula 1 recorded a 39 percent increase in audiences between 2019 and 2021. The series is currently in the process of its fourth season.
As a result of this, it is not at all unreasonable that the next step for Netflix will be to seize the broadcasting rights to Formula 1, but, for this, it will have to wait a little longer.
Currently, ESPN holds the rights to broadcast in the US until 2022. For its part, in the UK, Skysports has acquired the rights until 2024, the same period for Canal + in France. Even Amazon has already tried to acquire the rights to Formula 1.
Now, one of the conditions that Netflix requires is that you have exclusivity, which can generate platform conflict, since it’s something that doesn’t happen with any sporting event in the world.
Without a doubt, we are living in a new era in terms of television content, which has already lost the rights to relevant events such as the FIFA World Cup (a few years ago it was completely broadcast), EUROCOPA, among others.
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