Media And Entertainment
The National Football League (NFL) has recently made an announcement that it has finalized and signed a long-term deal with few media partners for the distribution of NFL games. According to reports, the deal is estimated to be worth a massive $110 billion for over 11 years. The distribution rights will run through till 2023, and Thursday Night Football will begin exclusive streaming from 2023. Sports Business Journal has reported in its latest news that the league is expected to rake around $10 billion per season, mainly due to its media partners ESPN, NBC, Amazon, FOX, and CBS. The present deal brings in a little less than $6 billion, but the new deal will receive over $110 billion.
Even though NFL refuses to comment on the new agreements, it is reported that NBCUniversal is paying $2 billion, and ViacomCBS is paying $2.1 billion. These are the lowest numbers paid when compared to other partners, but it has increased significantly from previous deals. It must be noted that NBCUniversal had paid $1.1 billion previously for its packages and this included playoff games too. FOX is speculated to renew its contract for over 2 billion, and the latest arrangement would save the company almost $660 million as it surrendered its Thursday Night Football package.