You will be able to share this link with anyone and everyone, even on social media.
* Please fill out the form below in order to receive your shareable link.
NASCAR appears likely to move its Xfinity racing series exclusively to a streaming company, according to several sources.
At least two companies have showed interest in that second-tier package. NASCAR also is shopping a midseason package of NASCAR Cup races to streaming companies, loosely patterned after the six-race package that TNT carried until 2014. Amazon is considered a strong candidate to land these streaming packages.
Nothing is close to being finalized, but sources predict that NASCAR will have handshake deals before the July 4 holiday on its new broadcast and streaming deals.
NASCAR’s media deals with Fox and NBC run through the end of next season. The racing circuit’s exclusive negotiating window with those broadcasters ended at the beginning of this month, and NASCAR executives have spent the past three weeks holding talks with several media and tech companies interested in its rights.
Fox and NBC are far along on discussions to renew their deals, with Fox keeping the first half of the season with the Daytona 500 and NBC keeping the second half of the season with the NASCAR playoffs.
The move into streaming marks something of a sea change for NASCAR, which has yet to do any kind of exclusive streaming deal to date, though Peacock has simulcast a handful of NBC’s races.
There’s a reason for that: NASCAR cut its current media deals with Fox and NBC a decade ago, well before video streaming started taking off. NASCAR’s current media deal was negotiated at the height of cable and satellite television, which numbered more than 100 million homes. Today, that number is around 80 million homes.
Given the financial importance sponsorships have with NASCAR teams, the circuit’s executives prioritize broadcast television’s reach for its Cup races.
NASCAR executives have showed a willingness to carve out a midsummer package of races for a streaming company. NASCAR’s midsummer races generally post solid TV audiences against little competition. But the number of people watching television in the summer drops considerably, and NASCAR executives believe a midsummer move to streaming will not have as big an audience drop as races in the spring or fall.
The creation of these new packages — combined with the deep pockets of streamers looking to add to their sports rights portfolio — should help NASCAR see a significant increase over the average annual value of its current deal, which is $820 million per year.
Over the past several years, leagues like the NFL and NHL have seen their rights fee hauls double, thanks in part to their digital rights. The NFL sold “Thursday Night Football” to Amazon for around $1 billion per year, and ESPN+ plays a big part in the NHL’s deal.
At the same time, sources said Amazon is interested in NASCAR rights as a way to boost Amazon Prime subscriptions to NASCAR’s fan base.
John Ourand can be reached at jourand@sportsbusinessjournal.com. Follow him on Twitter @Ourand_SBJ and read his weekly newsletter and listen to his weekly podcast.
Indy’s big weekend; GW goes with Revolutionaries and final takeaways from the judges’ decisions at the Sports Business Awards.
SBJ I Factor presented by Allied Sports features an interview with Danita Johnson, president of business operations for D.C. United and a member of Sports Business Journal’s Forty Under 40 class of 2023. Johnson talks with SBJ’s Abe Madkour about learning how to sell and to not fear change, becoming an effective manager, the importance of empathy as a leadership trait, and what to look for when evaluating job candidates. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards, such as Forty Under 40, Game Changers and others.
Shareable URL copied to clipboard!
https://www.sportsbusinessjournal.com/Journal/Issues/2023/05/22/Insiders/sports-media.aspx
Sorry, something went wrong with the copy but here is the link for you.
https://www.sportsbusinessjournal.com/Journal/Issues/2023/05/22/Insiders/sports-media.aspx
Register for a free SBJ account to unlock one extra article per month.
© 2023 Leaders Group. All rights reserved.The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group.
© 2023 Leaders Group. All rights reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group.
Already a subscriber? Click below to sign in.
Upgrade your subscription to get all the news you need:
Adding SBJ weekly content will give you the comprehensive view of sports business with:
Already a subscriber? Click below to sign in.
Upgrade your subscription to get all the news you need:
Adding SBJ daily content will give you the comprehensive view of sports business with: