Televising sporting events is big business, as sports fans know all too well.
Fox Sports recently signed a five-year deal with the NFL for Thursday Night Football, worth over $3.3 billion (!), which is an exorbitant amount of money, especially considering that some of the games aren’t even all that competitive, and ratings reflect that.
Not only that, Fox is making sure it continues to have a strong hold on the MLB market as well, The network just renewed its contract with MLB, and its a significant increase from what it was previously playing. Fox Sports’ new seven-year deal cost $5.1 billion, according to a report from Eben Novy-Williams of the Sports Business Journal .
Source says Fox paying at least $5 billion over seven-year extension — 36% annual average increase https://t.co/yyQKJgNCRw
— Scott Soshnick (@soshnick) November 15, 2018
MLB announces contract extension with FOX-TV, the deal, owners say, will pay about 30-40% more than previous contract.
— Bob Nightengale (@BNightengale) November 15, 2018
MLB also pulled off a streaming deal with DAZN.
https://twitter.com/novy_williams/status/1063099916774506498
It’ll take a lot of advertising revenue for Fox to turn a profit on that deal.
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