US Markets
Tuesday, July 2nd, 2024 2:14 pm EDT
Key Points
- EverPass Media acquired UPshow, enabling bars, restaurants, casinos, and other businesses to stream NFL’s “Sunday Ticket” games, previously only available through DirecTV.
- This acquisition aligns with the broader trend of live sports moving to streaming platforms, providing commercial establishments with more flexibility and options for airing live sports.
- EverPass’s new investor, TKO (combining UFC and WWE), bolsters the venture’s potential to distribute additional content and expand globally, leveraging Endeavor’s extensive international reach and relationships.
EverPass Media, a joint venture between the NFL and RedBird Capital Partners, has acquired UPshow, a platform that enables bars, restaurants, casinos, and other businesses to stream live sports, including the NFL’s “Sunday Ticket.” This acquisition allows these establishments to stream “Sunday Ticket” games, which were previously only accessible via a DirecTV subscription. Although DirecTV will continue to distribute “Sunday Ticket” through a nonexclusive deal with EverPass, this move marks a significant shift as more live sports content moves to streaming platforms.
EverPass CEO Alex Kaplan highlighted the importance of live sports in the streaming landscape and emphasized the company’s commitment to delivering a comprehensive product and service to their customers. The new streaming option will be available for the upcoming NFL season, offering a significant advantage to commercial establishments that rely on “Sunday Ticket” for out-of-market NFL games.
This transition to streaming comes amid a broader trend of live sports being offered on streaming services. Google’s YouTube TV acquired residential rights to “Sunday Ticket” for approximately $2 billion annually over seven years, while Amazon’s Prime Video became the exclusive home for “Thursday Night Football” under an 11-year NFL media rights agreement worth over $100 billion. Additionally, NBCUniversal’s Peacock aired an NFL wild-card game exclusively via streaming, and Netflix secured rights to air two NFL games on Christmas, demonstrating the increasing prevalence of streaming in sports broadcasting.
EverPass also announced a new investor, TKO, the newly merged entity combining Ultimate Fighting Championship and World Wrestling Entertainment, which is majority-owned by Endeavor Group Holdings. With the support of RedBird, the NFL, and TKO, EverPass plans to enhance its technology and expand its content distribution capabilities. The company is exploring opportunities to distribute other content, potentially including TKO’s WWE or UFC events.
EverPass’s initial collaboration with UPshow involved providing the Peacock Sports Pass, enabling commercial establishments to stream live sports from NBCUniversal’s platform, including NFL, Premier League, and college football games. The acquisition of UPshow opens up the potential for global distribution, aligning with the international expansion efforts of major leagues like the NFL, NBA, and MLB.
Derek Chang, executive chairman of EverPass, noted that the acquisition allows the company to transcend borders and leverage Endeavor/TKO’s global reach and relationships. This strategic move positions EverPass to become a key player in the evolving landscape of sports content distribution, offering innovative solutions for commercial establishments and potentially expanding its footprint internationally.
For the full original article on CNBC, please click here: https://www.cnbc.com/2024/07/02/nfl-redbird-everpass-sunday-ticket-bars-restaurants.html
