Netflix Co-CEO Says Company Not in Mix for Live Sports

Sarandos addresses the persistent rumors during a keynote speech on Tuesday.

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Despite persistent rumors and reports that the streaming giant could enter the very expensive world of exclusive live sports broadcasting rights, Netflix continues to move in other directions. Co-CEO Ted Sarandos confirmed that live sports are still not part of the company’s current content strategy during a speech at the UBS Global Technology, Media & Telecom Conference on Tuesday.

Sarandos said Netflix hasn’t “seen a profit path” from “renting big-league sports,” during the keynote, via Deadline. He did not shut down the idea altogether for Netflix, but it does not sound as if it’s on the horizon.

He added the company will “never say never,” per Variety, but called live sports rights a “loss leader” that the company is not currently interested in. 

“We’re not anti-sports,” Sarandos said. “We’re just pro-profit. We have yet to figure out how to do it. But I’m very confident we can get twice as big as we are without sports.”

Sarandos claimed massive viewership numbers for the drama Squid Game—165 million households according to the executive—that did not need the help of a Super Bowl lead-in.

Sports-adjacent content has proven to be valuable for Netflix, including documentary series like Last Chance U and Formula 1: Drive to Survive, which has been widely credited as helping launch F1’s popularity in the U.S. As of now, it doesn’t sound like the company is poised to compete with the likes of Amazon and Apple, which have made big plays for live sports to bolster their own streaming services in recent years.