November 3, 2023
Read in Browser [[link removed]]
POWERED BY
The NBA is putting all its muscle behind its in-season tournament. Commissioner Adam Silver was on “Good Morning America” today promoting tonight’s slate of opening games. ESPN gets the New York Knicks, Giannis Antetokounmpo, Luka Dončić, and the defending champion Denver Nuggets in national games today — not a bad start.
— David Rumsey [[link removed]]
Netflix Considers Streaming Even More Live Sports [[link removed]]
Kevin Jairaj-USA TODAY Sports
Netflix’s words and actions aren’t quite matching up.
The streaming giant continues to say it isn’t interested in being a major player in live sports rights, yet it keeps dipping its toes in the proverbial waters.
Live boxing could be coming to Netflix, which is exploring exclusively streaming a match involving Jake Paul, according [[link removed]] to the Wall Street Journal. Also being considered for broadcast are matches from Premier Boxing Champions, a promotion currently airing on Showtime — a network that will be shut down [[link removed]] by owner Paramount at the end of this year.
Any potential boxing streams would follow the Netflix Cup on Nov. 14 — a golf event [[link removed]] that will mark the tech company’s first effort presenting live sports. It will involve athletes from Netflix’s PGA Tour series “Full Swing” and Formula 1 series “Drive to Survive.” Coincidentally, Paul is the subject of a Netflix documentary in its “Untold” series that was released this summer.
During Netflix’s most recent earnings report, co-CEO Ted Sarandos said [[link removed]] there was no core change to the company’s live sport strategy or licensing of live sports.
“We are investing heavily in increasing our live capabilities so that as the demand grows for that and we find different ways, the liveness can be part of the creative storytelling, we want to be able to do that at a big scale,” he said.
Netflix’s confirmed and reported moves appear to show a strategy focused on live sporting events with athletes and properties it already works with — whether or not that leads to broadcasts beyond one-off, specialty events.
Saudi Arabia Could Invest Billions In Two More Sports [[link removed]]
IPL
Saudi Arabia just secured the 2034 FIFA World Cup — but its aggressive ambition to be involved in as much of professional sports as possible shows no sign of slowing.
New reports point to efforts by Saudi Arabia to potentially invest billions of dollars into one sport to which it has no major ties — and another in which it’s looking to expand.
The Indian Premier League has held talks with Saudi officials about injecting as much as $5 billion into the world’s top international cricket competition, according to Bloomberg [[link removed]]. Under a potential deal, the IPL could be valued at $30 billion, with Saudi Arabia acquiring a significant minority stake in the league. This would mark the first Saudi investment in cricket.
Saudi Arabia is also trying to buy two major tennis tournaments — the Miami and Madrid Opens, per The Athletic [[link removed]]. Currently owned by Endeavor’s IMG agency, both are top-level events on the men’s ATP and women’s WTA tours, falling just behind the four Grand Slams. The two tournaments could be worth hundreds of millions of dollars each.
The country launched the Diriyah Tennis Cup in 2019, and is the new host of the under-21 Next Gen ATP Finals through 2027. It has also explored investing individually in the ATP [[link removed]] and WTA [[link removed]] tours, though neither prospect has materialized yet.
Beyond the new interests, Saudi Arabia is invested in LIV Golf, Formula 1, Premier League club Newcastle United, and MMA.
SPONSORED BY SPONSORUNITED
The Evolving World of Sports Sponsorships
Sponsorships [[link removed]] are essential in the business of sports.
Brands that align with sports entities get a platform to reach a massive and highly-engaged audience and the goodwill that comes with associating with the most beloved entertainment properties in the world. On the other side, teams, leagues, and players see financial gains that keep their companies thriving and bring new eyes to sports at the same time.
Tune in on November 14 at 1 p.m. ET for our next virtual summit, the Future of Sports: Sponsorship [[link removed]], presented by SponsorUnited. Hear senior executives from major organizations, including Google, Angel City FC, Klutch Sports, Crypto.com, and more discuss the pivotal role that sponsors play across the entire business of sports.
Register here [[link removed]].
DraftKings’ Revenue Soars As Mobile Sports Betting Continues To Expand [[link removed]]
Mark J. Rebilas-USA TODAY Sports
The beginning of football season further solidified DraftKings’ strong standing in its battle [[link removed]] with FanDuel.
In its most recent fiscal quarter ending Sept. 30, revenue hit $790 million — a 57% increase from the same time period in 2022. Average monthly unique paying customers rose to 2.3 million, a 40% bump from a year ago.
Numbers for sportsbook and iGaming financials are reported together, but DraftKings’ mobile sports betting app is live in 23 states as of Friday morning, while the mobile iGaming product is only in five.
DraftKings now predicts that its 2024 fiscal revenue could be as high as $4.8 billion, which would be a 25% increase from the company’s current 2023 forecast, with the fourth quarter still remaining. Next year, DraftKings plans on having mobile sports betting operations up and running in North Carolina, Vermont, and Puerto Rico.
On the company’s earnings call, CEO Jason Robins indicated that customer growth was only the tip of the iceberg. “We haven’t found a ceiling yet,” he said.
Top Dogs
FanDuel is DraftKings’ top competitor for U.S. market share, and the former’s top executive isn’t sure newcomers like Fanatics or the soon-to-launch ESPN Bet will be able to keep up with the duo [[link removed]].
“If you’re sitting there with a low-single-digit share, and you don’t have that scale advantage over time, it just becomes harder to reinvest back into giving what consumers want,” FanDuel CEO Amy Howe said [[link removed]].
Conversation Starters This weekend, the PGA Tour is hosting its first event on a course designed [[link removed]] by Tiger Woods’ TGR Design. Set in the Baja California foothills, the 225-acre El Cardonal at Diamante offers views of the Pacific Ocean. According to the newly released 2024 Big Ten schedule, USC’s first year in the conference requires [[link removed]] nearly 15,000 miles of travel — including trips to Michigan, Maryland, and Minnesota. Adam Breneman says the 12-team College Football Playoff may be one of the most valuable media properties in sports history at over $2.2 billion — more than doubling [[link removed]] the current media rights deal for March Madness. Editor's Picks NBA Coaches to Receive In-Season Tournament Prize Payouts [[link removed]]by Doug Greenberg [[link removed]]The winning head coach will reportedly receive $500,000 in prize money. Brett Favre Controversy Casts Shadow Over Mississippi Gubernatorial Race [[link removed]]by A.J. Perez [[link removed]]Candidate Brandon Presley has made the scandal one of his talking points. Rangers-Diamondbacks Is Least-Watched World Series Ever [[link removed]]by Doug Greenberg [[link removed]]The four least-watched World Series ever have been the last four. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Video [[link removed]] Podcast [[link removed]] Sports Careers [[link removed]] Written by David Rumsey [[link removed]] Edited by Matthew Tabeek [[link removed]], Brian Krikorian [[link removed]]
If this email was forwarded to you, you can subscribe here [[link removed]].
Update your preferences [link removed] / Unsubscribe [link removed]
Copyright © 2023 Front Office Sports. All rights reserved.
80 Pine Street Suite 3202 New York, NY 10005
