Sunday Updates: Formula 1 Rights, GOOG, MGNI (Issue #10)
Recent Updates:
Liberty Media Formula One (NASDAQ: FWONK — $27.9 billion) After a bidding war for the Formula 1 US Broadcast rights Liberty has opted to re-up with Disney (ESPN) for between $75-90 million per year. This is a big raise from the previous rate of just $5 million per year. Key reminder is that this is an agreement only for broadcast rights and Liberty still reserves the OTT rights/streaming rights for themselves for use through their F1 TV service.
Alphabet Inc (NASDAQ: GOOGL — $1.56 trillion) as well as Comcast are contending to work with Netflix to build ads into their service. Google would use its experience with YouTube and YouTube TV ads to build a new tier of service for Netflix. If Netflix and Google came to an agreement then this would be just another in road Google has made into streaming (I think there are more to come).
Magnite Inc (NASDAQ: MGNI — $1.4 billion) This is another competitor for the Netflix partnership. However, Netflix seems to be giving more attention to Google and Comcast because of their ability to assist with the construction of a whole new tier of service, as opposed to simply focusing on advertising logistics. By this logic The Trade Desk (TTD) is also out of the running.
Streaming News:
The Umbrella Academy launched on Netflix on June 22
Loot launched on AppleTV+ on June 24
Westworld launches on HBO Max today
Tweets Of The Week:
Until Next Time,
Soren