The "future" of the National League Football league's TV viewing experience is over-the-top live streaming via deals like the one the league just inked with Amazon.com (AMZN) - Get Report , New England Patriots owner Robert Kraft said on Friday.
In April Amazon reportedly paid $50 million to seal the rights to stream 10 "Thursday Night Football" games during the upcoming NFL season.
"For us the future is OTT," Kraft said during an interview at the Cannes Lions festival in France. "The thing we have to be careful of is millennials. They don't watch TV, they don't have TVs or subscribe to cable. So we have to bring that audience in. Partly it's done through fantasy games and linking to that. Over-the-top is a great opportunity."
The emergence of platform's like Amazon represents a shift from traditional TV broadcasters which have historically comprised the bulk of the NFL's multi-billion dollar revenue stream.
The e-commerce giant is charging $2.8 million for advertising bundles during the streams, Reuters reported this week.
What's Hot On TheStreet:
Well OK then, Jeff Immelt: General Electric's (GE) - Get Report outgoing CEO Jeff Immelt had some choice things to say at an event in NYC on Thursday night, TheStreet's Kinsey Grant reports. First, Immelt revealed a possibly fatal management mistake Kroger's (KR) - Get ReportCEO might have made about Amazon (AMZN) - Get Reportwho as we all know, just inked a $13.7 billion deal for organic grocer Whole Foods (WFM) . Immelt then took a jab at Hillary Clinton and Barack Obama for not visiting factories in their push to lift manufacturing wages. Talk about a well-paid boss going down swinging.
Why Sears Canada is dying: Sears Canada (SRSC) has one foot in the grave just like its ailing U.S. friend Sears Holdings Corp. (SHLD) . Unfortunately for Sears Canada, it's that friend across the boarder that has played a large role in its demise, TheStreet's Michelle Lodge reports. Sears has sucked badly needed cash away from Sears Canada through the years, leaving it unable to upgrade stores and do other things to compete effectively in the always challenging Canadian retail market.
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