Netflix signs deal for Christmas games with NFL

Netflix and the NFL have agreed to a three-year deal that will allow it to broadcast live games from the league for the first time.

The streamer will carry two Christmas-day games in 2024, with The Kansas City Chiefs vs. the Pittsburgh Steelers and the Houston Texans hosting the Baltimore Ravens.

Terms of the deal were not announced, but The Wall Street Journal said its sources said Netflix is paying $75 million per game, while Bloomberg reported the deal is $150 million per matchup. Later, a Netflix exec would said the price is a similar to the budget of one of its “medium-sized original films.”

The deal is Netflix’s first live sports deal with a professional sports league, though it has offered other, lower-profile live sports streams in the past.

Looking ahead, Netflix will also get at least one holiday game in 2025 and 2026.

By signing the agreement, Netflix joins the ranks of Amazon Prime, which holds the rights to NFL “Thursday Night Football” and YouTube’s “NFL Sunday Ticket” offering.

Netflix has already partnered with the NFL on the docuseries “Quarterback” and “Receiver.” 

“Last year, we decided to take a big bet on live — tapping into massive fandoms across comedy, reality TV, sports and more,” said Bela Bajaria, Netflix chief content officer, in a statement. “There are no live annual events, sports or otherwise, that compare with the audiences NFL football attracts. We’re so excited that the NFL’s Christmas Day games will be only on Netflix.”

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In addition to revenue from existing subscriptions and hopes to lure in new subscribers who don’t end up churning, Netflix says it will also sell ads during the live broadcast.