In a significant move to bolster its live sports portfolio, Netflix is on the verge of securing streaming rights for Major League Baseball’s (MLB) Home Run Derby, an annual showcase of the league’s top power hitters, according to sources familiar with the negotiations. The deal, reportedly valued at over $35 million per year, would see Netflix exclusively stream the event through 2028 according to the Wall Street Journal. This marks a pivotal step in the company’s ongoing push into live sports programming. While the agreement is not yet finalized, discussions are advanced, and additional components could potentially increase the overall cost of the deal. This comes as ESPN is also close to a deal to stream all out of market games.
The Home Run Derby, a highlight of MLB’s All-Star festivities, has long been a fan favorite, drawing an average of 6.4 million viewers over the past four years. The event’s unique appeal as a standalone, high-energy spectacle aligns with Netflix’s strategy of prioritizing major sports events over recurring game broadcasts. The streaming giant has already made inroads into live sports with Christmas Day NFL games, high-profile boxing matches, and a deal to stream WWE Raw. Adding the Home Run Derby could further cement Netflix’s position as a destination for premium live content, though marketing a one-off event without broader MLB rights may pose challenges in attracting casual viewers accustomed to finding baseball on networks like Fox, TBS, or ESPN.
The potential deal comes as MLB navigates a reshaping of its broadcast landscape following ESPN’s decision to opt out of its $550 million annual contract after the 2025 season. That package included the Home Run Derby, Sunday Night Baseball, and Wild Card playoff games. With ESPN stepping back, MLB is looking to split the rights among multiple partners to maximize revenue. Sources indicate that NBCUniversal is close to a $200 million-per-year deal to carry games on NBC and Peacock, while ESPN remains in talks for a new package that could include MLB.TV streaming rights and select national broadcasts. Apple, previously a contender for MLB rights, appears to be out of the running.
The negotiations reflect MLB’s broader strategy to diversify its media partnerships and exceed the revenue from its expiring ESPN deal. Commissioner Rob Manfred has emphasized aligning all broadcast rights to expire after 2028, when the league’s deals with Fox and TNT Sports also conclude, potentially allowing for a comprehensive national and international rights package. However, fragmenting the current package across multiple platforms could complicate access for fans, who may need subscriptions to several services to follow their favorite teams and events.
For Netflix, securing the Home Run Derby aligns with its cautious but deliberate expansion into sports, focusing on events that resonate globally. The deal’s reported $35 million annual price tag represents a significant investment, but sources suggest additional elements, such as international streaming rights or ancillary content, could drive costs higher. As talks continue, the agreement could set a precedent for how streaming platforms reshape the future of sports broadcasting.
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