NASCAR Looking to Partner with Streamer for Digital Rights Package in Addition to Linear TV Deals
Streamers, start your engines! Sports Business Journal's John Ourand is reporting that NASCAR is ready to make a partial jump to streaming, and is looking for a partner to stream a package of its races once its current broadcasting deal with FOX and NBC expires after the 2024 season.
The auto-racing league’s search has just begun, according to Ourand, as its exclusive negotiating window with FOX and NBC ended on Monday, May 1. It has not yet decided how to structure a digital rights package and wants to hear suggestions from potential bidders like Prime Video, Apple TV+, and Google/YouTube before making any final decisions.
As of now, however, it is unlikely that the Daytona 500, the NASCAR playoffs, or other major events will be included in a streaming package. It’s more likely that NASCAR will attempt to carve out a group of races during the summer that will have little competition from other major sports. The league has more interest in streaming races thanks to “Thursday Night Football” on Prime Video, which despite seeing disappointing ratings as compared to linear football broadcasts nevertheless convinced NASCAR executives that streaming can draw large audiences.
If NASCAR wants to include a bundle of streaming-exclusive races in its next broadcast deal, it has at least one partner with plenty of experience in that arena. Despite letting its exclusive negotiating window with the networks lapse, Ourand reports that it’s highly likely FOX and NBC will be NASCAR’s TV partners once again in its next deal. NBCUniversal’s streaming service Peacock already has quite a bit of experience streaming live sports, including IndyCar racing, MLB baseball, NFL football, and much more.
FOX is not a neophyte company when it comes to streaming, as it owns the highly successful free streaming platform Tubi. But FOX executives have previously said that Tubi isn't a good fit for live sports, and the company’s only other direct-to-consumer (DTC) platform is FOX Nation. That’s more of a lifestyle and news streaming service as of now, and though the company is putting more original content on FOX Nation, it has never hosted live sporting events before.
NASCAR’s pursuit of a digital rights package to go alongside its linear broadcasting agreement is similar to what the NBA reportedly wants from its next rights deals. That league is also hoping to sell a bundle of games exclusively to a streaming service, in addition to a significant raise for its traditional TV rights.
The current agreement between NASCAR, NBC, and FOX runs through the entirety of this year and next, so fans won’t have to worry about seeing races anywhere else for a while. But the search is on, and news regarding the racing league’s potential new streaming partner could break any time in the next few months.
Peacock
Peacock is a subscription video streaming service from NBCUniversal that includes original shows, blockbuster movies, and classic television series. Peacock is home to “Yellowstone,” and “The Office,” as well as original hits like “Poker Face” and “Bel-Air.” You can also watch live sports including NFL, MLB, WWE, Olympics, Premier League, NASCAR, French Open, College Football and Basketball, and PGA Tour. Premium Plus subscribers can stream their local NBC feed in all 210 markets.