PARIS, FRANCE - FEBRUARY 13: In this photo illustration, the Netflix logo is seen on the screen of an iPhone in front of a computer screen showing a Netflix logo
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Netflix released its Q1 earnings numbers and held a conference call on Thursday to discuss the results with investors and members of the press.
One of the topics that was discussed was the future of live sports on the streamer, which in recent years has expanded its offerings to include select NFL and MLB games, as well as live sports events such as boxing.
Netflix officials confirmed they are in discussions with the National Football League about a potentially expanded rights deal. The league is currently shopping a package of five 2026 games that became available as part of its recent equity deal with ESPN.
"The NFL is a great property, and it delivers value as part of our total offering," Netflix co-CEO Ted Sarandos said. “We are in discussions right now, because we think there’s an opportunity to expand the relationship. We’ve learned a lot about what works, and how to value the NFL and live content generally over the last couple of years.”
Netflix currently streams two NFL games on Christmas Day. The streamer’s executives have consistently said that obtaining full season live sports rights wasn’t on the table, making the argument that those deals are incredibly expensive and would be difficult for the streamer to fully monetize.
But the company has continued to pick up what it describes as “event” presentations, most recently an MLB opening night game between the Yankees and Giants, which averaged three million viewers.
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During his comments, Sarandos also pointed to the recent WBC event in Japan, which delivered a reported 31.4 million viewers and was the most-watched program ever in Japan. He also said the event prompted the largest single-day number of new subscriptions in that country.
Events like this are super important because they drive outsized business impact, and they’re kind of a proof point that all engagement is not created equal," Sarandos explained. Earlier this week, Netflix also announced it had made a deal with Concacaf, soccer’s governing body across North and Central America, and the Caribbean to show the Gold Cup and Nations League Finals men’s national team competitions in Mexico.
And in October, Netflix will also broadcast live from the ANB Arena in Riyadh (Saudi Arabia) the 2026 edition of the Six Kings Slam, the tennis event that brings together six of the greatest champions on the ATP circuit.
Why Live Sports Is Increasingly Important To Netflix
Regional live sports deals as well as one-off live sports events are increasingly important to Netflix because they drive subscriber growth and tend to lower subscription churn with established subscribers.
While long-term live sports deals are too expensive for Netflix to justify, special events provide the sweet spot between subscriber engagement and overall cost.
That being said, Netflix has circled around several long-term sports deals in recent years, but decided the cost was prohibitive. Those included a global package for NBA games in markets outside of North America as well as the F1 racing package that ultimately went to Apple TV.
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