Netflix Venturing into Live Sports, Reportedly Preparing to Stream Inaugural Golf Event

It is difficult and expensive to stream live sports, and getting deals for prestigious events has grown more difficult.

According to reports, Netflix is in discussions to stream live sports for the first time. According to The Wall Street Journal, the company is exploring the creation of a celebrity-driven golf tournament in Las Vegas, featuring stars from popular sports content on streaming platforms such as “Drive to Survive” and “Full Swing.” A talent-focused golf tournament fits in well with Netflix’s foray into sports streaming, though discussions are still in the early stages.

It is difficult and expensive to stream live sports, and getting deals for prestigious events has grown more difficult. Earlier attempts by Netflix to obtain Formula 1 coverage from ESPN failed. ESPN’s first live broadcast of a slow-pitch softball game and Yahoo’s first attempt to broadcast an NFL game from London in the early hours of the American morning both serve as examples of how building credibility in live sports broadcasting takes time.

Netflix’s own live-streaming performance has its flaws. In April, its live reunion show for “Love is Blind” encountered significant issues, leading the service to cancel the live aspect altogether. An episode of Chris Rock’s comedy special, however, was streamed flawlessly by Netflix.

Although Netflix has been indicating its interest in live content since at least 2022 and in sports for years, the company has been waiting for the right moment to enter the sports streaming market. It has already made significant investments in documentaries that have seen a lot of success. “Drive to Survive” is widely credited with popularizing Formula 1 in the United States, while “Full Swing” and “Break Point” have been well-received in the golf and tennis communities, respectively. Additionally, Netflix is set to release an NFL-themed series called “Quarterback” this summer.

Golf tournaments could be used as a trial run for Netflix to show that it can handle more complicated live events, earning the respect of sports leagues and advertisers. As Netflix has demonstrated its ability to pique viewers’ interest in less well-known sports through documentaries and behind-the-scenes content, it could also be a sign of the company’s strategic direction.

Instead of concentrating solely on popular sports like NHL hockey and WWE, Netflix’s sports strategy may include highlighting less well-known sports like underwater hockey and toe wrestling. The amount of content available for Netflix to stream and develop interesting intellectual properties would be sufficient given the wide variety of sports.

Reference: www.businesstoday.in