Why Netflix Isn't Interested in Sports

Why Netflix Isn't Interested in Sports

It seems like everyone in streaming is getting into sports. Amazon purchased the global streaming rights to Thursday Night Football and the British rights to the ATP Tennis World Tour this year. Facebook is reportedly interested in investing billions for streaming sports rights.

But Netflix (NASDAQ: NFLX) says it's not interested.

It certainly has the budget, with a plan to spend between $7 billion and $8 billion next year. Ted Sarandos, Netflix's head of content, says sports rights just aren't worth it. Not only are they extremely expensive, he and CEO Reed Hastings see limited value Netflix can add to live sports.

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Source: Fool.com