Streamers redraw live game power map

Far from being an isolated episode, the battle for control of Warner Bros. Discovery, led by Netflix and Paramount as they vied for its assets, has reshaped the global market for sports rights by influencing who controls broadcasts of the major leagues. Media giants have reconfigured the transmission landscape of the most important competitions, with far-reaching consequences for tournaments, platforms and fans alike. In this process of structural transformation, streaming has reached a historic milestone: according to an investment bank Houlihan Lokey report, streaming platforms accounted for 20% of global spending on sports audiovisual rights in 2025, equivalent to €10.8 billion that year,...