NBA reaches a $76 billion agreement! Comcast and Amazon become new broadcasting partners
Comcast and Amazon have become the new broadcast partners of the NBA, with a total contract value of $76 billion. This new 11-year agreement will take effect starting from the 2024-25 season, with Comcast's NBC and Amazon responsible for regular season broadcasts, while Disney's ESPN will continue to have the broadcasting rights for the NBA Finals. This collaboration will help the NBA expand its pay-per-view audience and increase its trading value. This move may end the NBA's 40-year partnership with WarnerMedia. WarnerMedia will also have NBA broadcasting rights next year
According to the financial news app Zhitong Finance, the NBA has reached a broadcasting agreement with broadcasters worth a total of $76 billion over 11 years. Comcast (CMCSA.US) subsidiary NBC and Amazon (AMZN.US) will become new regular season broadcasting partners starting from the 2024-25 season, while Disney's ESPN will continue to hold the rights to broadcast the NBA Finals.
Executives familiar with the agreement mentioned that the deal will extend for 11 seasons.
The value of this new agreement is more than three times that of the existing agreement, as sports have become a strong attraction for media companies trying to expand their paying audience.
The NBA has always been a star-driven sport, with talents like Jordan, James, and O'Neal dominating the game and audience.
Since 2002 and 1984, ESPN and ABC under Disney, as well as TNT Sports under Warner Bros. Discovery Channel, have been the league's two main partners. However, media reports indicate that the NBA has been seeking to bring in new partners to maximize returns and increase the value of the deal by more than double.
If the deal is reached, it could end a 40-year partnership with Warner TV Network.
However, there are reports suggesting that TNT may still offer the same price.
Warner will also have NBA broadcasting rights next year, as the new rights agreement will not take effect until the end of the 2024-25 season.
It is reported that league management is expected to formally approve the agreements with ESPN, NBC Universal, and Amazon, after which the NBA will hand over the completed contracts to TNT Sports