NASCAR is rumored to have agreed to a “handshake deal” with NBC to stream its Xfinity racing series exclusively on streaming platforms as well as offering a midseason package featuring NASCAR Cup races. The interest of a few streaming companies was piqued, though no official offers or agreements have yet to be revealed.
The negotiation window for media deals with Fox and NBC has expired and the agreements end at the conclusion of next season. The last time NASCAR negotiated its media deals with Fox and NBC was well before streaming inspired millions to cut the cable cord. Fox will still broadcast Daytona 500 race, while NBC will air the remainder of the season along with the NASCAR playoffs.
Peacock occasionally streams NBC races, but this will be the first time NASCAR has sought out an exclusivity deal with any streaming platform. Its current media deal is valued at $820 million per year and moving exclusively to streaming could set the network up for a significant increase in viewership and advertisement revenue, which NASCAR is heavily dependent on.
NASCAR is predicted to find a new deal before July 4th, 2023 and it is rumored Amazon is a top contender as a potential host. Tapping into NASCAR’s fan base will help replenish Prime Video’s audience. NASCAR races averaged around three million views per race in 2022, though numbers in 2023 weren’t as high.
If potential future negotiations go well, a NASCAR-Amazon deal could be very symbiotic. Other sports leagues are having great success adding streaming options or switching exclusively to streaming altogether. Amazon already spent $1 billion per year to acquire streaming rights to the NFL’s Thursday Night Football with great results.
Check back with Cord Cutters News as more details about these developments are released.