Netflix is in talks with the NFL over a potential expansion of its live rights package, as the streaming giant doubles down on sports content following a strong first quarter in 2026.
Speaking during the company’s earnings call, co-CEO Ted Sarandos confirmed ongoing discussions with the NFL, describing live sports as a growing pillar of Netflix’s broader entertainment strategy. The current agreement includes a five-game package, but both sides are exploring the possibility of expanding that relationship.
Netflix continues to focus on selective “breakthrough” sports events rather than full-season rights, a strategy that has already included high-profile deals in baseball and international tournaments.
The company reported strong performance from recent sports content, including an average of three million viewers for its MLB opening game between the Yankees and Giants. Its coverage of the World Baseball Classic in Japan reportedly reached 31.4 million viewers, becoming the platform’s most-watched program ever in the country and driving record new subscriber sign-ups.
Sports content is also becoming a key driver of Netflix’s advertising business, which the company expects to double to $3 billion in 2026. Executives described live events as disproportionately impactful in driving engagement and subscriptions.
Netflix posted revenue of $12.25 billion for Q1 2026, up 16% year-on-year, with net income rising 83% to $5.3 billion, both exceeding market expectations.
Despite strong results, shares fell in after-hours trading due to a more cautious forward outlook. Company leadership also confirmed the departure of co-founder and chairman Reed Hastings from the board at the upcoming annual meeting.
The company recently exited its planned $82.7 billion acquisition of Warner Bros. Discovery’s TNT Sports assets, while continuing to expand selectively into live sports rights across global markets.
Overall, Netflix’s strategy remains clear: avoid full league ownership, but secure high-impact live events that drive global attention, subscriptions and advertising growth.