The NFL and Amazon invest in sports-adjacent content to lure fans with “companion” shows

MVP of the season… “companion content.” Sports shows like Netflix’s “Drive to Survive” (about Formula 1 racers) have become hugely popular as younger sports fans seek new ways to engage. Now, more media giants are looking to capitalize on the companion-content craze:

• Working overtime: This month Amazon struck a deal to stream games of high-school b-ball league Overtime Elite on Prime — and produce a companion docu-series.
• Hail Maverick: Also this month, the NFL teamed up with Skydance Media (the studio behind “Top Gun: Maverick”) to make original sports content like docs and shows.

Getting in the game… is more important — and more expensive — than ever. As Netflix, Amazon, Apple, Disney, and Comcast-owned Peacock compete for streaming supremacy, they’ve struck pricey live-broadcasting deals with the NFL, MLB, and MLS to attract subscribers. The amount paid for US sports broadcasting rights surpassed $21B this year, a 26% jump from 2019.

• Bidding bonanza: Netflix recently lost its bid for Formula 1 streaming rights to Disney, which lost a separate bid for Indian cricket rights.
• Joining the little leagues: To save money, Netflix has reportedly considered streaming more niche sports like pro surfing and cycling.
• More bang for less buck: For streaming titans, sports-adjacent content could bring the popularity of live sports without the big broadcasting price tag.