Tech giants enter the playing field on sports content

▪ Competition for the ownership of sports rights is heating up. While these assets have historically been under established media conglomerates, Apple and Amazon have quickly entrenched themselves as major competitors to legacy owners like Disney, Comcast, Paramount, and Fox 

▪ The value of sports rights is at all time highs and as trillion-dollar tech companies enter the playing field, they will only rise higher − In 2024 alone, Disney, Comcast, Paramount, and Fox will pay a combined total of $24.2bn for sports rights 

▪ These high valuations are due in part to the significant viewership traffic. Traditional media companies leverage this audience to cash in ad dollars. Big Tech hopes to leverage viewership to convert into new subscribers in their larger ecosystem – such as merchandising and music business