Seven warns the days of big rights deals for sport are over after booking $745m loss
Seven West Media CEO Tim Worner has fired a shot across the bows of Australia’s sports administrators, warning that the days of billion-dollar TV rights deals are over after the media company reported a $745m net loss for the financial year.
Worner says screening on free-to-air makes sports more popular
And the media company has also revealed it is working on a secret over-the-top platform, dubbed Project 8, as it continues to drive its total video approach to the market.
In a results briefing to media and analysts Worner returned to the issue of sports rights several times, saying that market changes meant sports rights would no longer command a premium and that administrators would have to consider the value that appearing on free-to-air TV delivered back to the sport.
Their own streaming platform is a very good idea and will be received well.Just like Disney’s decision to pull their content from Netflix in a couple of years, which was also received very well. People love signing up for multiple streaming services!
Deadset, this current generation of publisher CEOs are absolute [edited under Mumbrella’s comment moderation policy]
Any update on legal fees for the year? It wouldn’t have been a cheap year methinks.
Tim is clueless, he thinks TV is the only player here.
Pretty sure a billion quid from Facebook or Google to change the viewing habits of most Australians is worth the investment. They could easily take AFL off traditional broadcasters with out the need to make it pay, they would make 7 pay though.
You only have to look at Optus and the EPL for a great example of digital disrupting traditional sports broadcasters.