Apple (AAPL) may have secured rights to NFL Sunday ticket games
Apple AAPL is rumored to have won the rights to NFL Sunday Ticket games.
NFL Sunday Ticket, which is an out-of-market sports package, broadcasts regular NFL games every week. The rights to broadcast it currently belong to DirectTV. DirectTV sells packages ranging from $290 to $400 per season.
The rumored rights acquisition is in line with Apple’s plans to bring live sports to Apple TV+ in order to attract new subscribers to the platform.
Earlier this month, Apple officially partnered with MLB to bring Friday Night Baseball exclusively to Apple TV+ for $85 million a year.
However, the amount is far less than the $2.5 billion a year that Apple must pay to acquire the Sunday Ticket.
Apple Inc. Pricing and Consensus
Apple Inc. price consensus chart | Quote Apple Inc.
Live Sports to Grow Apple TV+ Userbase
The recent acquisition of the rights should attract customers to Apple TV+ amid stiff competition in the streaming space.
By a Looking for Alpha report, Apple has faced fierce competition from disney‘S DIS ESPN in a bid to win the rights to NFL Sunday ticket games.
Disney’s ESPN already hosts several live sporting events like the F1 race, La Liga, Bundesliga, UEFA Champions League and NBA.
Apple TV+ recently made history at the 94th Academy Awards by winning its first-ever Oscar for CODA.
Apple’s CODA took on its main streaming competitor netflix‘s NFLX The power of the dog.
Netflix has been spending aggressively to build its portfolio of original content and maintain its leadership position in the streaming industry.
However, the recognition from the Oscars raised awareness for Apple TV+. Alongside the current plan to bring live sports to Apple TV+ with original content and movies, Apple is offering a one-stop service on the online streaming platform at a lower price than its competitors in the United States. , which should attract long-term subscribers. carry.
Apple TV+’s expanding content portfolio, which now includes live sports, should attract viewers. This is likely to boost service revenue.
In the first quarter of fiscal 2022, services revenue increased 23.8% from the prior year quarter to $19.52 billion and accounted for 15.7% of revenue.
Zacks Rank and another stock to consider
Apple currently carries a Zacks Rank #2 (Buy). Its shares are down 7% since the start of the year compared to the Zacks Computer-Mini-computers industry and the Zacks IT and technology sector decline of 6.4% and 18.2%, respectively.
While Apple is a good stock to buy, here’s another stock to consider for your portfolio. America Movil AMX sports a Zacks rank #1 (Strong Buy). You can see the full list of today’s Zacks #1 Rank stocks here.
AMX shares have returned 5.2% since the start of the year, compared to the Zacks non american industry growth of 8%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.