Streaming companies continue to enter the race to grab media rights for sports leagues with live sports content still attracting millions of viewers and a top staple for advertisers.
E-commerce company Amazon.com, Inc (NASDAQ:AMZN) was among the streaming companies that have landed sports rights and this week it added another major sport to its arsenal.
What Happened: Motorsports league NASCAR announced new seven-year media rights partners this week with several media companies getting renewal deals.
Fox Sports, a unit of Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA), and NBC Sports, a unit of Comcast Corporation (NASDAQ:CMCSA) renewed deals with the league and would be partners on the majority of the live events, with 14 races covered by each of the 38 events. NBC Sports would air the final 14 events of the season, which included the Playoffs and Championship race.
New media partners for NASCAR are Amazon and Warner Bros. Discovery (NASDAQ:WBD)-owned TNT Sports. The two new partners will split rights to 10 midseason races. The two partners also landed exclusive rights to practice and qualifying sessions.
Prime Video is named the first “fully direct-to-consumer partner” for NASCAR in the announcement. Prime Video will stream practice and qualifying content live for the first half of the season with the exception of several key races.
“Our goal was to secure long-term stability with an optimized mix of distribution platforms and innovative partners that would allow us to grow the sport while delivering our product to fans wherever they are — and we achieved that today,” NASCAR President Steve Phelps said.
The new deal begins in 2025 and will last through the 2031 season. Financial terms of the deal were not disclosed by NASCAR.
“NASCAR is the most popular motorsport in the country, and we can’t wait to deliver Cup Series racing to Prime members in the U.S. for the first time,” Prime Video Global head of Sports Jay Marine said.
Related Link: Amazon Scores Touchdown With Its Thursday Night Football Viewership
Why It’s Important: Grabbing NASCAR rights adds to Amazon’s sports deals, which include the popular “Thursday Night Football” National Football games.
Among streaming companies, Amazon has been one of the most aggressive at trying to grab sports rights.
The first 2023 Amazon Thursday Night…
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