Introduction

Netflix is gearing up to transform its live broadcasts of two NFL Christmas Day games into a uniquely entertaining experience. Co-CEO Greg Peters has revealed exciting plans to add what he calls "signature flourishes" to these football events. However, while the company is enthusiastic about sports, it remains cautious about making hefty investments for major sports rights.

Plans for Christmas Day Games

During a recent appearance at the FT Business of Entertainment Summit, Peters described the Christmas games as a special event where "for one day, football will be on Netflix." He expressed hopes that these matches will be thrilling, with plenty of buzz surrounding them. "We plan to ‘Netflix-ify’ them a little bit, incorporating elements with our talent to make the experience super-fun," Peters remarked.

Cautious Approach to Sports Rights

Despite the excitement, Netflix is grappling with the complexities of securing major sports rights, especially after facing a slowdown in subscriber growth in 2021. Peters stated, “We’d love to have rights to Thursday Night Football or the NBA; it would be amazing. But we also want to do it in a way that makes sense for our business, and such deals have historically been challenging." He added that the current window of opportunity is limited, with most significant sports rights locked up for several years. However, Peters remains optimistic, saying, "You should not rule out these things categorically; there may come a time."

Strategic Moves in Live Sports

In a strategic move, Netflix has signed a three-year agreement for the NFL Christmas games, acquired WWE Raw, and debuted its own live golf event earlier this year. These milestones suggest that the streaming giant is probing the waters of live sports broadcasting but is yet to fully dive in. "We’re poking at the edges," Peters acknowledged, hinting at potential expansion into live sports in the future.

Venturing into Advertising