Netflix is reportedly exploring the world of live sports by organizing a celebrity golf tournament, according to insider sources. The event is said to feature professional golfers from the popular Netflix docuseries “Full Swing” and prominent drivers from the Formula 1 racing series “Drive to Survive.” The former has proven to be a hit, significantly boosting the sport’s popularity among fans. The most recent fifth season, released on February 24, 2023, saw a substantial increase in viewership, with nearly 570,000 viewers within the first seven days, marking a 40% rise compared to the previous season.
Netflix has had mixed results with live events in the past but this endeavor could serve as a crucial opportunity to demonstrate its ability to handle live sports and attract potential rights holders and advertisers. This move indicates Netflix’s ambition to refine its live-streaming capabilities before venturing further into the realm of sports broadcasting.
According to sources familiar with the matter, the celebrity golf tournament is expected to take place in Las Vegas and premiere in the fall. Discussions regarding the event are reportedly still in the preliminary stages, and Netflix has refrained from providing an official comment.
While Netflix has previously shown interest in live sports, the company has been cautious about entering the domain unless it can foresee substantial revenue and profit streams. Co-CEO Ted Sarandos emphasized this point during a 2022 earnings call, stating that Netflix would only consider live sports if there was a viable path to generating significant returns. “I’m not saying we never would do sports, but we would have to see a path to growing a big revenue stream and a big profit stream with it,” stated Sarandos outlining the company’s cautious approach towards live sports.
The celebrity golf tournament is positioned as a one-time special event, allowing Netflix to test the format and assess the potential viability of investing in live sports. Acquiring sports rights can be costly, with media companies often spending billions of dollars. By staging its own event, Netflix can experiment with live-streaming technology and determine if it can deliver a smooth viewing experience to its millions of viewers.
Netflix’s entry into the world of live sports could have significant implications for the streaming industry. Other major streaming services, such as Amazon and Apple TV, have already made inroads by securing partnerships for live sporting events.
