afaqs! news bureau

Netflix considers buying streaming rights and investment in sports leagues

Streaming giant eyes sports like tennis and surfing.

Netflix is coming up to the concept of putting live sports on its platform—as long as it can do so without going bankrupt.

A spokesperson said that the corporation recently made a bid for the ATP tennis circuit streaming rights for various European nations, including France and the U.K., but then withdrew. The bids for a number of other events, including the U.K. rights to the Women's Tennis Association and cycling contests, were also addressed, according to the sources.

Additionally, according to sources involved with the discussions, Netflix officials have talked about purchasing less well-known leagues in an effort to avoid the ever-rising expenses of competing for sports rights. The two groups couldn't agree on a price, according to people familiar with the proposed sale, and negotiations to buy the World Surf League late last year broke down.

According to the persons, some Netflix executives think that given the magnitude of their platform, Netflix can popularise obscure sports like surfing and organise brand-new competitions or athletic events.

The possible entry into sports by Netflix comes at a time when several of its streaming competitors have spent a lot of money to get access to important sporting events.

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