Netflix Looking To Get Into Streaming Live Sports, But At What Cost To The Viewers?

Netflix is apparently looking to jump into streaming live sports, according to a new report.

According to Deadline, the streaming service giant has been "quietly looking into acquiring the rights to a number of leagues and events."

The move comes in response to a number of competitors jumping on the live sports train. Apple TV+ and Peacock both have the rights to certain live baseball games. Amazon also now has streaming rights for Thursday Night Football, perhaps the biggest win for a non-traditional network.

Netflix might have joined the bidding wars too late, however. The Premier League, Champions League, Olympics, most NFL and College Football rights are all locked up for the mid-long term.

According to the report, they've had discussions with "tennis tours," as well as the World Surf League. Obviously nothing has come of their initial overtures.

Deadline was able to get an anonymous quote from a "Netflix insider," who agreed that sports are an extremely important priority for most platforms.

"Sports is the baseline now, we all know it, and finding the right properties, the right leagues is a priority, but it is always a question of the right league, the right deal," the source said.

Netflix does have the rights to the popular series of documentaries, Formula 1: Drive to Survive. The series has aired since 2019 and was renewed again earlier in 2022.

Drivers start during the Italian Formula One Grand Prix at Monza Circuit, Italy, Sept. 11, 2022. Netflix has broadcast the Formula 1: Drive to Survive documentary series. (Getty Images)

While increasing the bidding pool and undoubtedly raising prices for content, moving live sports to streams have hurt ratings. For example, Amazon's takeover has directly contributed to a decline for the NFL:

READ: NFL RATINGS ARE DOWN THANKS TO AMAZON PRIME AND THURSDAY NIGHT FOOTBALL

Do Sports Make Sense for Netflix?

Amid a broader economic decline, some streaming platforms are struggling mightily to retain subscribers.

Netflix in particular has struggled of late, losing its #1 status several months ago. Increasing competition from studio specific services like Disney+ have substantially hurt business.

Aiming for tennis tours and the World Surf League doesn't exactly signal tremendous ambition, however.

Customers are largely frustrated with increasing fragmentation, and adding another streaming service to the list could make things even worse.

It's hard enough to know where to find live events now, with little used platforms like Paramount+ often broadcasting important soccer matches.

If you want to make a splash with viewers and increase subscribers, you have to go big. That's exactly what Amazon did with Thursday Night Football.

Major League Baseball has long claimed that they want to do away with regional blackouts, with streaming partners seen as a way to accomplish that goal.

That's the kind of partnership Netflix will need to make waves with live sports, not surfing. Whether or not they can accomplish that is an entirely separate matter.

Another streaming platform is now interested in live sports, but what that means for viewers remains to be seen.