Sports and streaming have become inseparable. From WWE on Netflix, to France's Ligue 1+, to F1 on Apple TV, the data shows both industries are driving each other’s next phase of growth
In a recent survey, Hub Entertainment Research asked respondents to imagine that a streaming platform bought the rights to a sport they follow, and they had to subscribe to a new service to watch. 87% of avid fans said they were at least somewhat likely to sign up, and two-thirds (66%) said they were very likely. These statistics rise to 92% and 75%, respectively, when respondents are under the age of 35.
There is a corollary to this which is important for the industry to consider, as fans also report being frustrated at having to watch different services to watch sporting content (see Solving the Fragmentation Challenge below). But with investment in sports rights by streaming services rising, we thought it would be a good moment to look at two case studies from both sides of the fence that illustrate the powerful dynamics at work in the market.
According to research conducted by Ampere Analysis, WWE content contributed over 300 million viewing hours on the service in H1 2025, with weekly flagship WWE Raw generating a consistent live audience that averaged 6.5 million viewing hours per broadcast. The high-profile WrestleMania 2025 event delivered 19.8 million viewing hours across its April double bill.
The figures are impressive on their own, but even more so when compared with Netflix’s top-performing TV seasons: WWE Raw overall achieved 88.6m total views (defined as viewing hours per hour of content). It was only beaten by the runaway success of the limited series Adolescence and the major franchise of Squid Game. This is even more spectacular when you consider that the other two titles were available globally, while WWE Raw is confined to 12 markets which comprise a little over half of all subscribers.
There’s room to expand as well. As Ampere points out, territories such as South Africa, the Philippines, and India, exhibit a higher level of fan engagement with WWE content than the US does, but Netflix does not yet carry WWE in those markets. If it can obtain those rights as well, then WWE will enhance its performance even further for the company.
Two additional data points are worth noting here. Of those in the US who signed up for the WWE Raw premiere, only 18.2% churned after 60 days. This is significantly less than for the Paul vs Tyson boxing (25.6%) and the NFL Christmas game (27.2%). It also helped grow its subscriber base in what is seen as a saturated market; US WWE viewers with a Netflix subscription grew from 62% in Q3 2024 to 76% in Q1 2025.
For its opening weekend, Ligue 1+ attracted more than 600,000 subscribers, which is more than previous rights owner DAZN achieved throughout the entirety of the 2024/25 season. By mid-September, over one million subscribers had signed up, with LFP saying 72% are committed for the entire 2025/26 season.
There are some interesting factors behind its success.
First, the content. The League has leveraged its access to the clubs and players to ensure a deep level of engagement beyond the matches themselves, even referring to itself as offering a véritable feuilleton (a “real soap opera”) week after week. Expect to see an increased concentration on personalities, drama, and intrigue amongst players, managers, agents, wives, and an expanding supporting cast as a result.
Second, it has a broad range of distribution partners, both tech companies such as Samsung and Apple, and national and international broadcasters and operators, with more likely to come.
Lastly, it has also gone to market with a competitive pricing structure. Ligue 1+ is currently priced at €14.99 per month, with a promotional deal offering the first three months for €9.99. Alongside that, it also has a €9.99 monthly package for those under 26, and a month-to-month rolling plan priced at €19.99. In other words, there are plenty of options and incentives.
SportsPro reports that the service cost €66 million to set up. Given the figures above, it is likely that Ligue 1 has already achieved a positive return on that investment. It is now targeting growth of between 2.2 million and 2.5 million subscribers within the first four years of operation.
Previous rights-holder ESPN had been paying somewhere between $75-90 million a year, but had decided not to renew, despite the sport growing in popularity over the seven years of its tenure and US audiences more than doubling. At 1.1 million per race, for the 2024 season they are still dwarfed by most US sports leagues, but with the Apple-backed F1: The Movie now the most successful sports movie ever, these are liable to be much bigger for 2025.
Two things are worth noting about the deal:
Synergistic streaming - Much of the increased success of F1 in the US is already down to streaming, and Netflix’s long-running documentary series Drive to Survive. This has engaged with a newer, younger audience for the sport, made celebrities of the drivers and even team management, and set the blueprint for in-depth multi-episode coverage of sporting properties that Netflix itself and others are trying to replicate across other sports. When the LFP talks of creating a real-life soap opera out of its soccer stars, it is the success of Drive to Survive that it is at the top of its mind. Happily, the Apple F1 deal does not affect future series of the Netflix show.
Multi-platform approach - Apple will be using its ownership of the entire ecosystem to further drive viewership. “In addition to broadcasting Formula 1 on Apple TV, Apple will amplify the sport across Apple News, Apple Maps, Apple Music, and Apple Fitness+,” it writes. Already it says that Apple Sports — the free app for iPhone — will feature live updates for every qualifying, Sprint, and race for each Grand Prix across the season, with real-time leaderboards, season driver and constructor standings, Live Activities to follow on the Lock Screen, and a designated widget for the iPhone Home Screen. Other sports will be watching what it does in this area with new forms of engagement and monetization with great interest.
There are definite opportunities for both rights holders and broadcasters in the sports streaming market at the moment. If the underlying technology is sound and the offering pitched is at a competitive pricing, the audiences are undoubtedly there.
However, content being spread across numerous services is becoming an issue amongst viewers. The same Hub survey that points to sports being streaming’s MVP in 2025 also highlights fan frustration with the fragmentation of sports rights. Two-thirds (65%) of sports fans say it is ‘a hassle’ to use several services to watch games during a season. In addition, half (53%) say it’s become harder to find the sports they want to watch compared to a year ago.
Solving that issue and ensuring frustration doesn’t turn into churn will be the next great challenge for sports streaming. Bundling may be the solution, one already gaining traction across the ecosystem, and we are seeing increasing activity in that space. For platforms and operators alike, collaboration could be the key to keeping fans both connected and loyal.
As the streaming and sports sectors continue to converge, the lessons are becoming clear: exclusive live rights still drive value, local engagement builds retention, and collaboration can solve fragmentation. And sports, as is so often the case, is the very large jewel in the crown of King Content.