Facebook is no longer attempting to bid for rights to stream major live sports, according to a report from The Information. Though the social network will set a $1.4 billion programming budget for its Facebook Watch video service, an increase from the $1 billion budget Facebook Watch had when it debuted in 2017, funds will be more focused on adding talk shows and licensing clips from TV networks and sports. Less will be spent on original shows and live sports.
Last week, the PGA Tour announced an expanded agreement with Facebook to distribute more video highlights on Facebook Watch, which is in line with the company’s new approach. Facebook livestreamed 25 Major League Baseball games in 2018, however MLB games did not stream on Facebook this past season and instead were featured on YouTube.
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Aside from highlights, Facebook can look to bolster its portfolio of sports-related documentary content. Athletes such as Tom Brady and Steph Curry have produced docuseries for Facebook Watch, and Formula One has launched an esports documentary.
In 2018, Facebook’s director of live sports programming Peter Hutton told SportTechie that his company was still trying to find its footing in the sports industry.
“It isn’t really a time of clear answers,” Hutton said. “It’s clearly a period where sports consumption is changing, and we’re a big part of that consumption change. But we need to learn where we’re going to end up in this route. Sport is a natural fit with Facebook, it’s just ‘How do we fit? Where do we invest? Where do we look and prioritize?’ That philosophy will shape over time.”
