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Saturday, June 22, 2024

Twitter Doesn’t Want Sports Rights

*This piece first appeared in the Front Office Sports Newsletter. Subscribe today and get the news before anyone else.

You can count out at least one social media company from the TV sports rights game. 

According to Max Mason of The Australian Financial Review, the company is not interested in battling for major sports rights, but wants to partner with rights holders, such as TV broadcasters, to extend their audiences and bring in more money.

Friend, not foe…

While Twitter does have deals to broadcast games on its platform with leagues like the WNBA, NWHL and more, the goal for the platform is not to be a linear TV broadcaster.

“The way that we’re approaching our business and our partnerships in the space is not to compete with rights holders. I don’t want to be a linear television broadcaster.” – Kay Madati, Twitter’s vice-president and global head of content partnerships

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Bigger together…

Instead of competing with one another, Madati and Twitter want to serve as a way for traditional linear broadcasters to be able to amplify their content and drive new revenue.

“We’re here to make those events bigger by marrying the conversation that happens on our platform around those things. We’re here to actually come to them and say ‘we can make your event, your investment in this property that much bigger and that much better’.” – Kay Madati

More video is good for Twitter…

According to Mason, video has become the dominant source of revenue for Twitter, comprising 50% of money coming in.

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