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The National Basketball Association (NBA) is reportedly amid significant media negotiations, with Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc (NASDAQ:GOOGL) Google’s YouTube competing for streaming rights, while NBCUniversal aims for a TV deal currently held by Walt Disney Co’s (NYSE:DIS) ESPN and Warner Bros. Discovery Inc’s (NASDAQ:WBD) TNT.
Disney and Warner are discussing substantial payment increases for TV rights post-2024, despite airing fewer games, reflecting the enduring value of live sports amid cord-cutting trends, reported The Wall Street Journal.
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Interest is elevated in the league’s next round of packages, which starts after the 2024-2025 season, the report added.
Amazon and YouTube are frontrunners for a streaming package, potentially altering the NBA’s traditional media landscape.
NBCUniversal vies for rights alongside Disney and Warner, aiming for regular season, playoff broadcasts, and potential NBA Finals airing.
Warner Discovery and Disney have the right to match other offers, the report noted, citing people with knowledge of the pacts.
NBA Commissioner Adam Silver aims to expand global viewership, mirroring the NFL’s approach, increasing rights fees, and exploring new agreements.
Amazon, YouTube, and NBCUniversal seek to bolster their streaming services through sports investments.
NBA content enhances network value, aiding pay-TV distribution negotiations, particularly crucial among the rise of streaming platforms.
As per the report, Wolfe Research analyst Peter Supino downgraded Warner Discovery stock to Underperform, citing the cost of a new NBA deal as a factor.
Price Action: AMZN shares are trading higher by 2.87% at $178.62 at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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