Amazon.com (AMZN) - Get Report will start exclusive coverage of NFL “Thursday Night Football” in the 2022-23 season, supplanting Fox Corp. (FOX) - Get Report a year earlier than planned, Amazon and the league said Monday.
“Amazon Prime Video will be the exclusive home of Thursday Night Football beginning with the 2022 season. the NFL and the Seattle tech and online-retail giant said.
"Amazon will distribute Primetime's second most-watched show across hundreds of compatible digital devices.”
Amazon stock recently traded at $3,395.23, down 2.1%. It has gained 13% over the past six months, half the S&P 500’s 26% climb.
Fox recently traded at $36.04, down 0.9%. It has risen 34% over the past six months. Fox will continue to produce the National Football Conference package of Sunday afternoon NFL games.
In March, Amazon Prime Video won the right to carry Thursday night NFL football games for 10 years, starting in 2023. Terms of the deal weren’t disclosed, but reports put it at $1 billion a season.
J.P. Morgan analysts maintained their overweight rating on Amazon after the March news.
Amazon’s NFL money is “well spent,” said J.P. Morgan analyst Doug Anmuth. “We believe it provides Amazon with multiple benefits.”
That includes the potential to drive new Prime subscribers while deepening the engagement of existing ones.
Amazon Prime has more than 200 million subscribers worldwide. And CIRP estimates 147 million of them are in the U.S.
The NFL and Amazon first partnered on Thursday Night Football as part of a tri-cast distribution model during the 2017 season, initially with CBS/NBC CBS and then with Fox starting in 2018.