Social-media platforms Facebook, Twitter and Snapchat are offering Fox millions of dollars for the rights to stream highlights of soccer’s upcoming World Cup, which will be played in Russia next summer, reports Bloomberg.
Live sporting events are increasingly attractive to social-media platforms that offer live streaming video, but they tend to be already spoken for by broadcasters who have paid hundreds of millions of dollars for the privilege. That said, the opportunity to defray costs by sharing some of those rights with streaming-media platforms is working in social platforms’ favor. In addition, offering social streams tends to push viewers to the linear broadcasts.
Fox reportedly paid $400 million for the U.S. broadcast rights to the quadrennial global tournament, the final of which attracted more than 25 million viewers in the U.S. when it last was played in 2014.
Streaming providers are increasingly getting into the sports-rights business, with YouTube offering NFL highlights and historic games, and Amazon streaming Thursday-night NFL games this season to Prime subscribers. Verizon paid the NFL $21 million for the rights to stream one game: the Sept. 24 match-up between the Baltimore Ravens and Jacksonville Jaguars, which will be played at London’s Wembley Stadium.
In addition, Facebook just sealed a deal with Fox to stream some of its coverage of soccer’s Champions League, played annually in Europe, while NBCUniversal will stream all 150 Premier League games to subscribers for $50.
READ MORE: Bloomberg