FOX Corporation has extended its media rights agreement with the National Football League (NFL) by an additional 11 years.
FOX Extends and Expands NFL Media Rights Agreement
News, sports, and entertainment conglomerate FOX Corporation has announced that it has extended its media rights agreement with the National Football League (NFL) until 2033. FOX will maintain the right to cover premier National Football Conference (NFC) games and to produce new and exclusive holiday games as part of the 11-year deal.
The lengthy deal also contains a number of new perks for the media behemoth. FOX will be able to broadcast potential direct-to-consumer opportunities as well as general NFL content on its on-demand streaming service Tubi under the new terms. The platform is just a few years old, having launched in 2014, but it has already amassed a sizable following. Tubi had 33 million monthly users in September 2020.
FOX will also be able to screen four of the forthcoming 12 Super Bowls. The firm will have coverage for the years 2023, 2025, 2029, and 2033. The NFL and FOX have a long history of working together, which has proved to be extremely beneficial to both parties. For the past 12 seasons, FOX’s America’s Game of the Week has been the most-watched program on all US television networks. Not only that, but it has been the most-watched NFL window for more than two decades.
FOX To Become NFL Sportsbook Operator in Future
The contract also touches upon monetization through online gaming and wagering. To begin, FOX will retain the rights to continue its FOX Bet Super 6 mobile app. The app, which is available on the App Store and Google Play, is a wagering game in which players must answer a series of questions about a particular subject to win prizes.
Furthermore, the agreement places FOX in a strong position to potentially tap into the burgeoning US sports betting industry. FOX Bet would earn automatic sportsbook operator status if and when the NFL agrees on official sportsbook operators for its officially licensed intellectual property.
Overall, the ambitious 11-year deal benefits FOX Corporation significantly and expands its current broadcasting rights. However, the conglomerate has decided to not renew its Thursday Night Football contract, which is set to expire after the 2022 NFL season.
Lachlan Murdoch, Executive Chairman and Chief Executive Officer of FOX Corporation, praised and welcomed the expansion of the two famous brands’ 27-year relationship. FOX is pleased to have extended the contract to include additional digital rights, which will give the company more flexibility to produce content in new and creative ways, according to Murdoch.
“This long-term agreement ensures that we will continue to deliver the best in football coverage to our viewers while also strengthening and providing optionality to our business.”, Murdoch stressed.