Spanish La Liga to launch own streaming platform, according to El Confidencial
MADRID, August 9 (Reuters) – Spain’s premier football league and private equity firm CVC are considering launching their own streaming platform, Spanish online newspaper El Confidencial reported on Monday, a move that would challenge telecommunications companies that offer game streaming as part of their packages.
La Liga struck a deal last week in which CVC would invest € 2.7bn ($ 3.18bn) for 10% revenue and a 10% stake in a newly formed company housing a range of businesses league trade. Read more
A proprietary streaming platform is one of the main plans under consideration to boost the league’s revenue, El Confidencial reported, citing unidentified sources.
Neither La Liga nor CVC returned a request for comment.
If it comes to fruition, such a platform would deal a blow to current rights holder Telefonica (TEF.MC) which pays La Liga € 1 billion per season for the right to broadcast football matches to customers. who pay extra for sports packages.
Telefonica’s contract expires in 2023. France’s Orange (ORAN.PA) has a sublicense agreement, under which it pays Telefonica for the rights to broadcast the devices in the 2021/2022 season.
While customers of Telefonica’s Movistar subsidiary pay up to € 130 per month for live football in a package that also includes telephone, cable TV and internet services, La Liga and CVC believe they can offer a package. Streaming football singles for around 13 euros, El Confidencial said, citing unidentified sources.
Telefonica and Orange declined to comment.
($ 1 = 0.8503 euros)
Reporting by Nathan Allen and Inti Landauro; Editing by Anil D’Silva
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