Netflix has built a multi-billion dollar streaming business by keeping viewers hooked with cliffhangers and unexpected plot twists. Now, the company is hoping it can carry out an offscreen surprise in its own business as its competitors pile into live sports programming.
Streaming companies like Apple, Google-owned YouTube and Amazon are all betting big on sports. Apple is paying $250 million per year to show every Major League Soccer match for 10 years (CEO Tim Cook name-checked soccer superstar Lionel Messi three times in the company’s most recent earnings call). And NFL rights are reportedly costing Amazon and YouTube a respective $1 billion and $2 billion annually.
