The upcoming NFL Christmas games highlight an escalating embrace of streaming platforms as primary broadcasters of major sporting events. Scheduled for December 25, the Dallas Cowboys’ showdown with the Washington Commanders will kick off at 1 p.m. ET and feature an integrated halftime performance by Snoop Dogg. However, viewing access requires subscriptions to streaming services Netflix or Amazon, underscoring a broader trend where technology-driven platforms gain prominence in sports broadcasting.
According to Ampere Analysis, a research firm specializing in media economics, streaming services are significantly increasing their financial commitments to acquire sports rights in the United States. By 2025, Amazon and YouTube TV are projected to collectively account for approximately $4.2 billion of the total $6.5 billion spent on sports rights by U.S. streamers. Specifically, Amazon will hold 34.4% of that market, with YouTube TV close behind at 30.6%. Netflix will command the third largest share at 11.3%, while Disney’s ESPN+ and Comcast’s Peacock fall notably behind in their allocations.
The aggressive positioning of Amazon and YouTube TV in the sports domain stems from several high-profile acquisitions. Amazon has invested heavily, notably paying $11 billion for rights to broadcast the NFL’s Thursday Night Football and $19.8 billion for NBA content. YouTube TV has similarly committed considerable resources, spending $14 billion to secure rights to the NFL's Sunday Ticket package. Netflix’s strategy diverges somewhat from these full-season rights agreements, focusing instead on selective premium events such as the NFL games on Christmas Day and sporting spectacles like the Jake Paul versus Mike Tyson boxing match. An insider familiar with Netflix's expenditure estimates annual spending at around $600 million, compared with Ampere’s figure of approximately $738 million.
It is important to note some qualifications in Ampere Analysis’s data. The figures represent spending on eight platforms but exclude international rights investments, such as Amazon’s acquisitions related to NFL coverage outside the United States or UEFA Men's Champions League rights within the UK. Additionally, the $1 billion that DAZN has committed to the global FIFA Club World Cup in 2025 is not reflected. Despite these exclusions, the data illustrates a robust streaming presence while reaffirming that traditional broadcasters retain the lion’s share of sports rights purchases domestically.
Broadcast networks still dominate, allocating nearly half (47%) of their estimated $24 billion content budgets in 2025 toward sports. Conversely, streaming services continue to dedicate a majority of their content investments to scripted television and film but are steadily increasing the sports fraction of their budgets. In 2024, 6% of streaming content budgets went to sports, rising to an estimated 10% in 2025. Amazon alone devotes around 19% of its content spend to sports, a level approaching its investment in movies. Strategically, sports rights acquisition supports streamers’ goals to elevate user engagement and subscriber retention, though escalating costs present financial challenges for the broader entertainment sector, which has seen a production slowdown since the end of the Peak TV era in 2022.
Disney, during its fourth-quarter earnings disclosure, announced intentions to allocate $24 billion in the next fiscal year toward content, heavily driven by sports programming. CFO Hugh Johnston justified a payment exceeding 73% more for NBA rights in the 2024 contract by emphasizing their substantial value to both viewership and advertising revenue streams, despite admitting that such expenditures may cause short-term financial fluctuations over the year. Netflix executives have characterized the cost of their recent NFL game rights as roughly comparable to individual mid-budget original films, reflecting a selective, event-based approach rather than broad seasonal rights acquisition.
The trajectory of sports rights migrating toward streaming platforms is expected to persist. Ampere Analysis projects a 20% global increase in sports rights spending, reaching $78 billion by 2030, with the United States serving as the principal driver due to the impending availability of new NBA and MLB rights. Furthermore, negotiations for the subsequent round of NFL media rights contracts could commence as early as 2026, as the league seeks to optimize the commercialization of its broadcast properties.
To further capture sports enthusiasts, YouTube TV has recently introduced a dedicated sports subscription bundle alongside other niche packages that offer pricing below its standard $83 monthly fee, indicating a strategic segmentation effort to attract users specifically interested in sports content.
Key Points
- The NFL’s triple-header on Christmas features exclusive streaming coverage on Netflix and Amazon, supplemented by a halftime show with Snoop Dogg.
- By 2025, Amazon and YouTube TV are expected to dominate U.S. streaming sports rights spending, jointly holding about 65% of the $6.5 billion market.
- Netflix ranks third in streaming sports investment, opting for selective event coverage rather than season-long rights.
- Traditional U.S. broadcasters allocate nearly half of their content budgets to sports, maintaining leadership despite streaming advances.
- Streaming platforms have increased sports-related budget allocations from 6% in 2024 to an estimated 10% in 2025.
- Amazon’s sports rights account for approximately 19% of its content spend, approaching its investment in films.
- Disney forecasts $24 billion in content spending for the coming fiscal year, with sports as a significant component.
- Projections indicate global sports rights expenditure will rise 20% to $78 billion by 2030, driven largely by the U.S. market.
Risks and Uncertainties
- Increasing costs of sports rights could strain streamer content budgets and reduce investment capacity in other entertainment areas.
- The viability of streaming platforms' sports investments depends on sustained audience engagement and subscriber retention.
- International streaming rights spending is not fully captured, potentially understating total market dynamics.
- Uncertainty exists regarding the outcomes and timing of forthcoming NFL media rights negotiations starting as early as 2026.
- Traditional broadcasters continue to command a large share of sports rights, presenting competitive pressure on streaming services.
- The financial impact of inflated sports rights costs may introduce volatility in short-term broadcaster and streamer earnings.
- A slowing production environment in scripted entertainment may affect content pipeline diversity amid rising sports expenditure.
- Pricing strategies, such as YouTube TV’s new sports bundles, must effectively balance revenue and subscriber acquisition goals.