Against a background of rapid acceleration in spend on content by subscription OTT platfomns spurred by the wider ‘stre aming wars’,streaming services’investment in sports rights has lagged -a consequence ofinfrastructure and business model challenges.Nonetheless,growing consumer demand for streamed sport is increasingly being met in 2023,subscription OTT services willaccount for more than a fifth of total spend on sports rights across the most important sports markets worldwide.
DAZN led the way in several markets with a bold strategy targeting top-tier rights and offering low-priced,direct-to-consumer accessto premium sports.In 2022,DAZN accounted for 54%of all subscription OTT services’spend on sports rights.DAZN’s strategicfocus is now turning away from consumer growth and international expansion to focus on long-term profitabiity through a strategy ofprice increases and revenue diversification.
Recent years have seen an acceleration in sports rights spend by general entertainment streamers -such as Peacock and Viaplay
-as they look to differen tiate from peers in an increasingly crowded market.The exclusive NFL deal with Amazon that kicked off in
2022 was arguably the tuming point for sports on these platforms,representing the largest single deal signed to-date by any sports
streaming service,and since surpassed only by You Tube -also with the NFL.
Despite the early challenges of the sports streaming model,spend on sports rights by subscription OTT platfomms is destined togrow over the next few years.This is due in part to the opportunities that sports offer to streaming platforms;but also to thechallenging economic headwinds and shifting consumer expectations and habits which will imit traditional sports broadcasters’abiity to spend on sports rights going forward,leaving an opening for new entrants
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