On Christmas Day 2024, Netflix streamed not one but two live NFL games on their international platform: at 1 pm, the Kansas City Chiefs played the Pittsburgh Steelers for the 38th time, then at 4 pm, the Ravens squared off against the Texans in Houston, Texas. The NFL's Christmas Day games attracted over 30 million viewers on average worldwide, with fans from more than 218 countries and regions joining in to watch. In the United States alone, the total audience reached nearly 65 million, making these the most-streamed games in NFL history. 

With record-shattering audience numbers and a three-year deal under their belt, has Netflix succeeded in dominating the live sports streaming market? What does 2024’s success mean for the future of live streaming?

Live sports streaming: Who’s in the game?

The live sports streaming market is thriving and evolving rapidly as more players enter the game. Companies such as Hulu, FuboTV, DAZN, Amazon, Netflix, and others have made significant investments to capture audiences worldwide. The more sports-focused names, such as FuboTV and DAZN, cater to different audiences and offer a mix of live events, on-demand content, and regional sports coverage. Others, such as ESPN+, provide extensive coverage of major sports leagues such as the NFL, NBA, MLB, and NHL, along with exclusive content like UFC fights, college sports, and international soccer tournaments. 

Amazon has also positioned itself as a major player after investing billions of dollars in acquiring premium sports media rights and building an extensive cloud computing infrastructure to deliver high-quality streaming experiences to Amazon viewers around the world. According to Mike Hopkins, head of Prime Video, Amazon’s investments are part of a larger strategy to create the “next generation of an entertainment service” that transcends on-demand movies and TV shows. With such aggressive investments already on the table, the competition for audience members is heating up. Netflix’s Christmas Day success, boosted by performances by Mariah Carey and Beyoncé, demonstrates the potential of these streaming services to rival traditional broadcast television for live sports events.

The implications of Netflix in the streaming game

The implications of Netflix in the streaming game will be far-reaching, impacting, for example, how advertisers target their campaigns and how consumers interact with this platform and others. Netflix was born as and is traditionally an ad-free platform. However, over the past year, Netflix has expanded the payment tiers of their service to offer an ad-supported subscription at a lower cost. This move, combined with the recent expansion into live sports, is expected to bolster this new payment tier, which has already garnered substantial interest among Netflix users. Netflix’s advanced data analytics capabilities will enable precise campaign targeting based on user behavior and preferences, allowing brands to deliver more personalized advertising and maximize revenue. 

Another area impacted by the availability of live sports streaming will be the way in which users interact with Netflix and as a consequence, with other streaming platforms. The addition of NFL games is likely to drive subscription growth for Netflix, as fans must sign up for the subscription service in order to watch these mammoth games. As these new users have the chance to explore new on-demand content as well as live sports streaming, the chances of them churning are reduced. 

This pattern has already been seen in 2023 when streaming platform Peacock hosted an exclusive NFL game for the first time. Not only did Peacock see a significant spike in subscriptions prior to the December 23rd game, but they also experienced increased user engagement in the weeks and months that followed. Understandably, the NFL also stands to win from these live sports streaming deals. Indeed, during Peacock’s 2023 stream, the NFL saw higher-than-expected viewership rates, as they were able to draw on the platform’s current users as well as fans who signed up as new users. 

Netflix continues to expand into live sports streaming

Just days before the monumental NFL game in December, Netflix announced that they had also secured the rights for the next two FIFA Women’s World Cups in 2027 and 2031, marking its biggest investment into live sports yet. This “landmark moment” is a sign of surefire expansion into live sports, with Netflix aiming to position itself as a major player in the live sports streaming market. 

These two major international events are set to draw increased engagement with the platform and with women’s soccer following a surge of interest in the sport after the 2023 competition. Netflix’s Chief Content Officer Bela Bajaria stated: “Bringing this iconic tournament to Netflix is not just about streaming matches — it’s about celebrating the players, the culture, and the passion driving the global rise of women’s sports.” In the lead-up to the tournament, Netflix will increase the hype by producing exclusive documentaries that spotlight top players and their journeys in women’s soccer. 

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