Changes in TV consumption habits are real. Streaming platforms (OTT in this field) that provide low-demand audiovisual content over the Internet are becoming increasingly relevant in the home. According to the Commission’s data, in Spain alone, 63% were using paid platforms at the end of 2024, whereas four years earlier they had not yet reached that stage. National de los Mercados y la Competencia (CNMC).
This peak translates into sports being one of the most requested content by viewers, with increasing interest in the platform as a way to generate loyal subscriptions. According to a report by Houlihan Lokey Investment Bank, to which this periodical has access, 20% of the world’s spending on sports-related audiovisual resources, or €10.8 billion, will be spent on these this year. This 20% is the highest spending allocation ever achieved in a global sports budget to shut down a platform of its kind, and its growth has accelerated over the past five years. In 2021, these are only 8% of the total, multiplied by more than four inversions.
The most relevant in this field is DAZN, which specializes in sports content. Amazon Prime Video just started a multi-million dollar partnership with the NBA on a global level. Youtube TV broadcasts the NFL in the US. Netflix also has a partnership with the NFL, guaranteeing free WWE wrestling coverage for 10 years in a deal worth $5 billion.
Everything in the context of the market goes to Alza. Houlihan Lokey estimates that total spending on sports rights this year will fall by around 9.5% year-on-year to $56.6 billion, or around €48.8 billion at current exchange rates, due to the absence of major sporting events, such as the European Championships in 2024. Things like soccer and the Paris Olympics.
For Juan Luis Muñoz, an M&A partner at Houlihan Lokey, both tournaments were turning points. “Platforms are fiercely competing for premium content and this is redefining the map of audiovisual investment in Europe. Audiovisual rights are being transformed into a strategic asset for funds, broadcasters and technology platforms alike,” he added.
This trend will change in 2026. The report puts the value of audiovisual rights at $66.6 billion, or approximately €57.4 billion, which he notes will be a new record “driven by global audience expansion, streaming adoption, major global events, and historic achievements in both established and emerging sports.”
The latest rights updates support this policy. The NBA has doubled its revenue through partnerships with Amazon on a global level and with Espn, ABC, and NBC in the United States. The mixed martial arts competition will quadruple its size thanks to a new deal with Paramount that takes effect in 2026. The U.S. women’s basketball league, the WNBA, will cost $200, up from $50 million, starting next year.
Precisely speaking, women’s sports can be considered one of the main drivers of increasing the value of sports rights. “The rise of women’s sports is not just a cultural trend, it’s also a structural shift in the entertainment economy,” said Carlos Parames, a partner at Houlihan Lokey. In his opinion, “specialization, improvements in audiovisual production and brand interest have transformed this segment into one of the most dynamic and profitable markets.” This year, total revenue from women’s sports is expected to reach $2.4 billion, or approximately 2.07 billion euros. Since 2022, that rate has more than tripled. Of this amount, 25% represents audiovisual rights and the majority, 54%, represents commercial or advertising contracts.
the most valuable competition
On a global level, the ranking of sports competitions that generate the most revenue from sports rights sales is dominated by American leagues in three of the top four countries. As of 2024, the NFL will lead the way with over 12 billion euros, followed by the English Premier League with around 4,000 euros, followed by the NBA and Baseball League. Behind them are the UEFA club competition and Paris 2024, followed in seventh place by the Spanish Football League with a rights value of around 1.9 billion euros.
Precisely, La Liga has just started the bidding process for the rights to Spain’s Primera División for up to five years from the 2027/2028 season, even though there are still seasons and media left in the current contract, in order to take advantage of the current traction in the audiovisual market and attract perhaps the most prosperous platform.
The final bid was a novel one, with five parties winning to Dazn and the rest to Telefonica in 35 days of the 38-day competition. It currently started on November 7th last year, and the acceptance of offers will be extended until the 28th of the same month. As of last year, La Liga comprised six lots, one of which allows the winner to issue new matches exclusively on each match day, including all matches between Real Madrid, Barcelona and Atlético. We will have to wait until mid-December to see if La Liga takes a hit and domestic revenues improve.
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