According To Reports, Netflix Will Charge Advertisers $2 Million To Sponsor Its First Live Sports Event

It will cost you money to have your name splashed all over Netflix’s first “live sports” event.

According to Bloomberg, advertisers will pay $2 million to have their company’s name appear during the inaugural Netflix Cup, a golf competition comprised of sportsmen from other Netflix productions. According to the article, advertisers would also be required to commit to spending $2 million on ads for its ad tier.

The Netflix Cup sponsorship is the latest indication that the streaming company is taking advertising seriously. Earlier this month, the firm announced that it had 15 million monthly active users on its lower ad tier, delivering a message to advertisers about its reach.

This isn’t an official game, unlike other live sports events on streaming, such as Apple TV’s MLS package or YouTube TV’s NFL Sunday Ticket. Netflix is teaming up drivers from Formula 1: Drive to Survive and golfers from its Full Swing documentary series for a match play golf competition at the Wynn Golf Club in Las Vegas.

On Tuesday, November 14 at 3 p.m. PT/6 p.m. ET, the Netflix Cup will be streamed live.

Formula One drivers Alex Albon, Pierre Gasly, Lando Norris, and Carlos Sainz are presently competing. Rickie Fowler, Max Homa, Collin Morikawa, and Justin Thomas are among the golfers in the team.

Netflix stands out because, unlike other of its competitors, it has not pursued a contract with a major league. It comes as firms like Max and Peacock promote their live sports offering as a difference. However, Netflix, the largest subscription streaming provider, seems unconcerned about competing.

“We are in the sports business,” Netflix co-CEO Ted Sarrandos said during the company’s earnings conference call last month, noting that the company focuses on “where the drama is,” relying on programs like documentaries or specials that profile a sport or high-profile athletes like Michael Jordan or David Beckham. He stated that the company had no intentions to bring in more traditional live sports, but that it was investing in its service to give a stronger platform for live events.

A Netflix spokeswoman was unavailable to comment on the cost of sponsoring for the Netflix Cup.

According To Reports, Netflix Will Charge Advertisers $2 Million To Sponsor Its First Live Sports Event

It will cost you money to have your name splashed all over Netflix’s first “live sports” event.

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