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Amazon Stock Climbs as NBA Signs Exclusive Broadcasting Agreement with Prime Video
ByAinvest
Thursday, Jul 25, 2024 3:07 am ET1min read
Amazon's stock price rose after the company secured a multi-year broadcasting deal with the NBA, which will feature Amazon Prime Video as a new broadcasting partner. This deal, lasting until 2035-36, expands Amazon's reach in sports content and will include NBA games, playoffs, and the NBA Finals. With this partnership, Amazon Prime Video aims to enhance the fan experience by offering exclusive content globally.
Amazon Prime Video's reach in the world of sports content expanded significantly recently with the announcement of a multi-year broadcasting deal with the National Basketball Association (NBA) [1]. The agreement, which runs until 2035-36, grants Amazon Prime Video the exclusive rights to broadcast NBA games, playoffs, and the NBA Finals, making it a new broadcasting partner for the league.The NBA's decision to partner with Amazon Prime Video was driven by the need to maximize the reach and accessibility of its games for fans [1]. The new deal supports this objective by complementing existing arrangements with Disney and NBCUniversal, ensuring that NBA content remains widely available to viewers.
Both Amazon and the NBA have expressed a commitment to promoting the league and enhancing the fan experience. Amazon Prime Video aims to offer exclusive content globally, enriching the experience for fans worldwide [1].
The significance of this deal for Amazon extends beyond the realm of sports. The partnership represents a strategic move for the company to expand its presence in the media industry and solidify its position as a major player in content streaming.
The NBA's decision to choose Amazon over Warner Bros. Discovery was not an easy one. Throughout the negotiations, both parties acted in good faith and presented strong bids [1]. However, the league ultimately decided to accept Amazon's offer, leaving Warner Bros. Discovery to proceed under the matching rights provision of their current agreement.
The future of Turner Sports, which has carried live NBA games for nearly 40 years and is home to popular studio shows like "Inside the NBA," is uncertain if the NBA doesn't strike a deal with Warner Bros. Discovery.
In conclusion, Amazon Prime Video's acquisition of the multi-year NBA broadcasting deal signifies a significant expansion of the company's reach in sports content and a strategic move to strengthen its position in the media industry. The partnership is expected to enhance the fan experience by offering exclusive content globally.
References:
[1] CNBC. (2024, July 24). NBA picks Amazon for media rights over Warner Bros. Discovery. https://www.cnbc.com/2024/07/24/nba-picks-amazon-for-media-rights-over-warner-bros-discovery.html
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