FIFA looking for $2 billion streaming service partner
FIFA is reportedly looking for investors to significantly expand their very own streaming service. FIFA+, the governing body’s streaming service, was previously launched in 2022 as a way to offer soccer fans additional content. Accessing this content, which includes select live matches, is currently free to all users. Viewers do, however, have to watch advertisements before videos begin.
Along with live games, FIFA+ also includes certain match replays, highlights, and original content. Several full-length soccer documentaries are featured in this latter category. Executives at the streaming service had previously planned to broadcast around 40,000 live matches every year. However, growth at FIFA+ has been a slow and steady process.
2023 Women’s World Cup matches were available on FIFA+ in areas where exclusive broadcasting rights were not successfully sold. The service has also offered African Football League (AFL) fixtures and the men’s Oceana Football Confederation (OFC) tournaments as well.
FIFA specifically targeting US, Middle Eastern partner for streaming service
FIFA+ has slowly grown since its introduction two years ago. Now, though, the governing body is looking to expand even further. Sources close to the action have told Bloomberg that FIFA wants to raise as much as $2 billion to expand the streaming service. UBS Group, a multinational financial institute, is even already working with FIFA on any potential deal. UBS, like soccer’s governing body, has headquarters in Switzerland.
According to the sources, the fundraising process will likely begin as early as July. FIFA is open to all possible investors but is looking specifically at financial firms from the Middle East and the United States. The governing body has targeted these two particular regions as potential areas of growth in the sport.
Middle Eastern nations have recently hosted a plethora of Club World Cup tournaments, as well as the 2022 World Cup. The United States is also hosting both competitions over the next two years. Any partnership between FIFA and an investor would include a minority stake in FIFA+.
Broadcasting deals have not fared well for FIFA lately
A deal regarding FIFA+ would not be the first time that the governing body tried to raise additional funds with broadcasting rights. FIFA previously agreed to a $25 billion deal back in 2018 to essentially create two new tournaments. The agreement, however, ultimately failed as European soccer authorities intensely pushed back on the idea.
FIFA then revamped the somewhat unpopular Club World Cup two years later. While the move stalled due to the pandemic, the 2025 updated version of the competition is in the United States. Coaches, players, and even many fans, however, oppose expanding the tournament. FIFA is also currently having trouble finding a broadcasting partner for the competition.
Apple was among the candidates looking to strike a deal to broadcast the 2025 Club World Cup across the globe. Nevertheless, the agreement has since stalled. The massive tech company values the partnership at around $1 billion. FIFA, on the other hand, is looking for a figure closer to $4 billion. As a result, negotiations are currently at a stalemate.
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