After years of watching traditional media dominate live sports, tech giants have decided it's time to get in the game by paying up for live sports rights.
Why it matters: The value of sports rights has been in the stratosphere and the inclusion of trillion-dollar tech giants will only lift those numbers higher.
State of play: Disney, Comcast, Paramount, and Fox will pay a combined $24.2 billion for sports rights in 2024 alone, according to data from MoffettNathanson.
Yes, and: Apple and Amazon are battling for the NFL's Sunday Ticket package a deal that is expected to include a stake in the league's media business with Apple seen as the heavy favorite.
Yes, but: Most of the sports rights still reside with the established media giants that now have their own streaming services.
Between the lines: Traditional media companies love sports for their ability to drive huge viewership that turns into big ad dollars. Big tech has a different goal.
What's next: The NBA's upcoming rights renewal will be closely watched next year.
See more here:
Big tech crashes big sports - axios.com
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