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Luka Doncic of the Dallas Mavericks in Game 1 of the Western Conference first-round Playoffs at Crypto.com Arena on April 21, 2024. (Ronald Martinez / Getty Images)
The NBA completed an 11-year, $76-billion media rights pact that will change the lineup of partners after next season, ending its decades-long relationship with cable network TNT and entering a new partnership with Amazon.
The league issued a statement Wednesday saying TNT parent Warner Bros. Discovery did not match the terms offered by Amazon, which will reportedly pay $1.8 billion annually for the rights to stream NBA games on Prime Video. NBCUniversal and the Walt Disney Co.’s ESPN will be the television outlets for the NBA.
The statement noted that the league sought a streaming partner to “maximize the reach and accessibility of our games for fans.” Streaming has become the platform of choice for young viewers who are abandoning or bypassing traditional pay TV services.
“Our new arrangement with Amazon supports this goal by complementing broadcast, cable and streaming packages that are already part of our new Disney and NBCUniversal arrangements,” the league said. “All three partners have also committed to substantial services to promote the league and enhance the fan experience.”
The deal makes Amazon’s Prime Video a bigger powerhouse in the TV sports business thanks to its deep pockets. Amazon is already a player in the live sports streaming arena because of its Thursday Night Football package with the NFL.
The NBA more than doubled the rights fees of its current package, in another example of how live sports leagues have seen their value escalate in the media landscape disrupted by streaming video.
Live sports are must-have properties for traditional TV networks, which are no longer the first stop for scripted dramas and comedies. But tech companies getting into the video business also want sports to create greater scale for their streaming businesses. Leagues realize that streamers are the go-to resource for younger fans.
Prime Video is expected to carry weekly regular-season games and the NBA Cup, a midseason tournament launched last year. The…
Source link : https://finance.yahoo.com/news/nba-rejects-warner-bros-discovery-204525833.html
Author : LA Times
Publish date : 2024-07-24 20:45:25
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