Netflix yet to find a path to profitability in ‘renting big sports’: Ted Sarandos

Ted Sarandos, co-chief executive, Netflix Inc said that he has yet to see a path of profitability in live sports on the streaming service. 

He mentioned that the economics of professional sports were built around the same economics of television and that buying rights is expensive.

He quoted in the UBS Global TMT conference and said, "We've not seen a profit path to renting big sports today." 

Rival streaming services Apple TV+ and Amazon Prime Video have added live professional sports competitions, acquiring rights to major league soccer and the NFL's Thursday night games, respectively.

NBCUniversal simultaneously streams via Peacock the Sunday Night Football games it broadcasts on television. Sarandos said Netflix has been able to add subscribers without the lure of big sporting events, such as the Super Bowl.

He said he is "confident" the service can double in size without streaming live sports, although he did not rule it out entirely.

"We're not anti-sports, we're just pro-profit," Sarandos said. "We have yet to figure out how to do it."