Sports programming still dominates TV, and Netflix is leaning more into it
Publishing timestamp: 2023-10-18 18:50:30
Summary
Netflix is planning to air "The Netflix Cup," its first-ever live sports event featuring athletes from Formula 1 and PGA Tour. The streaming platform is leaning more into sports as a tactic to boost its audience and retain subscribers. Live sports still attracts a large viewership, and Netflix wants to tap into that market. The company has been adding more subscribers by introducing new business models and cracking down on password sharing. The announcement of "The Netflix Cup" is a step towards live sports for Netflix. Other streaming platforms like Warner Bros. Discovery's Max and NBCUniversal's Peacock have also started airing live sports. Netflix's push into advertising is also part of its strategy, with T-Mobile and Nespresso among the sponsors for the event.
Sentiment: NEUTRAL
Keywords: media, business, breaking news: business, warner bros discovery inc, sports, netflix inc, streaming services, earnings, business news,
Source: https://www.cnbc.com/2023/10/18/netflix-leans-more-into-sports-programming.html