Hi ZipLawyer! I'm Ludo Lugnani and this is ZipLaw: an independent newsletter covering the best commercial and legal news from the day. We explain how each story impacts law firms and their clients so that you can stand out in interviews and applications.
Today's newsletter is a ~8 min read:
- 🏈 Streaming the Game: Competition in sports streaming is heating up
- ➕ Plus: Croatia adopts the Euro, Lula inaugurated as president, world faces recession, and Asian factory activity slumps.
🤿 Deep Dive
Streaming the Game
- YouTube has secured the rights to broadcast some US National Football League matches for seven years starting in 2023, in a deal worth more than $14bn.
- The deal is part of a trend towards streaming and away from traditional cable packages for live sports events, as tech companies such as YouTube, Apple, Amazon, and Meta pay billions of dollars for the rights to screen events.
Big Streaming Deals
In a major shakeup for the sports industry, Google's video platform YouTube has secured the rights to broadcast some US National Football League (NFL) matches from next season. The seven-year deal, which begins in 2023 and is worth more than $14bn, will give YouTube exclusive rights to the "Sunday Ticket" subscription service, which allows US fans to watch any game on the biggest day of the week.
This marks a significant push by YouTube into live sports broadcasting and is part of a trend towards streaming and away from traditional cable packages for live sports events.
Tech companies such as YouTube, Apple, Amazon, and Meta have been paying billions of dollars for the rights to screen events, adding pressure on traditional broadcasters, who have seen their share prices decline as investors move away from the less profitable tv broadcast business model.
This deal is the latest and most significant example of the growing competition between tech and traditional media companies for sports rights. It also shows the increasing importance of streaming platforms in the media and entertainment industry, with YouTube recently surpassing Netflix as the most popular streaming service for watching television.
💼 What does this mean for law firm's clients?
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