What if the NFL were to convert to a premium subscription service?
From a technical standpoint it would not be terribly difficult to migrate to a streaming service model. The NFL could build the direct-to-consumer platform on top of AWS, Azure or GCP. The NFL’s library isn’t nearly as vast as Disney’s nor Netflix’s. The original content algorithm takes care of itself (games, behind the scenes activity). The NFL’s teams could each float a portion of their equity to help fund the initial build and go-to-market.
Were the NFL to pursue such an initiative it would make sense to jump in with both feet. This means taking the Super Bowl off of network TV (as well as regular season and playoff games) and migrating to a premium service. Perhaps something similar to the Endeavor/UFC’s relationship with ESPN+/Disney. Regular season games would be covered by a monthly subscription. Playoff games and the Super Bowl would require a Pay-Per-View (“PPV”), purchase in addition to the monthly fee. Franchise and League valuations would likely increase if a large and growing streaming service were operational. We played with the numbers. The results are below.
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