Netflix & Live Sports? Ted Sarandos Says Streamer Would Need To Find Revenue & Profit Stream Before Kicking Off Move, Talks Up ‘F1: Drive To Survive’
deadline.comNetflix has long been asked whether it would eventually move into live sports.Ted Sarandos, co-CEO of the streamer, revealed today what it would need to make that happen.He said that he wasn’t so sure that it could add a “big profit stream” with the addition of live sports. “I’m not saying that we’ll never do sports but we’ll have to see a path to growing a big revenue stream and a great profit stream with it.”The comments, spoken on Netflix’s Q1 earnings call, come as the streamer’s interest in sports adjacent content grows.
It has had success with the Formula 1: Drive To Survive docuseries – credited with growing interest in the motorsport in the U.S.
as it recently premiered its fourth season. It also has similar projects around NASCAR driver Bubba Wallace and the PGA Tour golf competition.Sarandos’ co-CEO Reed Hastings told German newspaper Der Spiegel that it would consider buying the rights to F1.
However, he also pointed out that it would require control in order to make that level of investment for its subscribers.Instead, Sarandos pointed out that it would continue to look at sports adjacent programming and documentary content.He also highlighted its focus on gaming, rather than live sports, at this current juncture, an area that it is able to have more rights and ownership.“We expand our content verticals constantly.
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