From golf to boxing, what a transition Netflix plans to showcase. The OTT giant is attempting to enter the sports streaming market, following in the footsteps of Hulu and Peacock.
Sports have always been popular, and as OTT platforms provide the opportunity for everyone to stream whenever they want, without worrying about a cable connection, more and more people have opted for it. Now it’s Netflix’s turn to capitalize on this trend.
And what better way to enter the arena than with a celebrity match?
Netflix is currently in early talks about streaming boxing matches, including Jake Paul fights and bouts from Premier Boxing Champions. However, profitability is a key consideration for both platforms, as emphasized by Netflix co-CEO Ted Sarandos in December 2022.
In terms of numbers, Jake Paul certainly brings them in. His recent two fights have been highly successful economically. Jake Paul’s recent bouts against Nate Diaz and Tommy Fury garnered impressive pay-per-view numbers, with over 450,000 and around 500,000 buys respectively, resulting in more than $27 million in revenue.
Now, as Paul is seeking another match in December, Netflix can capitalize on it, using it to grow their share in sports streaming. They can also use it to test their advertising strategies in terms of live sports.
In terms of working with Jake Paul, they have already collaborated on a documentary, and this will mark their second partnership.
Speaking of their sports venture, they will stream the Netflix Cup on 14th November, turning it into a celebrity event and thus, entering the realm of sports streaming. If it works out, then voilà, you’ve got Netflix for sports streaming as well.
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