All articles tagged with #media deals
Prince Harry and Meghan's Netflix deal has been scaled back to a multiyear, first-look agreement, reflecting their fluctuating media profile and the changing landscape of celebrity-backed streaming content, with a focus on lighter, commerce-driven projects rather than large-scale productions.
The UFC is in ongoing negotiations for a new broadcast rights deal, with multiple networks interested, including ESPN, Netflix, Amazon Prime, and Warner Bros. Discovery. The deal may be split among several outlets, and negotiations could extend until September, with the UFC seeking around $1 billion annually. The outcome remains uncertain as discussions continue.
ESPN and Stephen A. Smith are negotiating a potential six-year, $120 million contract, which would make Smith the highest-paid on-air personality at ESPN without a licensing deal. While reports suggest a deal is close, Smith has denied this, emphasizing his discretion in contract talks. The contract, if finalized, would include contributions from Disney Entertainment and ESPN's sports gambling arm. Smith currently earns $12 million annually, and the new deal could see him earning nearly $20 million per year.
The average NHL team is now valued at $1.92 billion, driven by steady revenue growth, a hard salary cap, and a revenue-sharing system that ensures profitability. For the 2023-24 season, the NHL's hockey-related revenue reached $6.3 billion, an 8.6% increase from the previous year, with record national sponsorship and gate receipt revenues. These factors, along with lucrative media deals, have improved the financial standing of the league's 32 teams, with an average EBITDA of $45 million on $223 million in revenue.
The average NHL team is now valued at $1.92 billion, with the Toronto Maple Leafs leading at $4 billion, according to CNBC's 2024 NHL Valuations. The league's growth is driven by steady revenue increases, a hard salary cap, and revenue-sharing, ensuring profitability. For the 2023-24 season, the NHL's revenue reached $6.3 billion, an 8.6% increase from the previous year, with record sponsorship and gate receipt revenues. The average team posted an EBITDA of $45 million on $223 million in revenue, highlighting the league's financial health.
NBA Commissioner Adam Silver announced that the league will begin the expansion process this fall after finalizing new media deals, which reportedly include Amazon. Seattle and Las Vegas are potential markets for new teams. Silver emphasized the complexity of expansion, including financial and talent considerations. Seattle has been without an NBA team since 2008, but local interest in bringing the NBA back remains strong.
A recent leak of Google Search's API documentation has provided unprecedented insights into how the algorithm ranks content, sparking discussions on SEO and potential regulatory implications. The Vergecast also explores media companies' deals with OpenAI and other tech news, including Apple's AI plans and a new Sony party speaker.
The National Women's Soccer League (NWSL) has announced a four-year media distribution contract with CBS Sports, ESPN, Amazon Prime Video, and Scripps Sports, set to begin in 2024. The deal, worth $240 million, includes agreements for 118 national windows on the media channels and is expected to generate record-breaking distribution and revenue. The NWSL will have matches aired on CBS, ESPN, and Amazon, with additional streaming options on Paramount+ and ESPN+. This partnership marks a significant milestone for the league and its players, expanding its reach and economic value.