The lucrative business of sports rights is in an interesting time.
With traditional linear television viewership on the decline and fans having an abundance of entertainment options all vying for their attention, networks and streaming platforms are spending big to grow their audiences.
In Australia, networks and streaming platforms are spending roughly $10.1 billion collectively to broadcast live sport.
MORE: Trade smarter with eToro, the world's leading social investing platform
The AFL signed an eye-watering $4.5 billion deal with Seven Network and Foxtel/Kayo in 2025 that lasts through 2031.
That's more than double the NRL's $2 billion agreement with Nine Entertainment and the same subscription partners just two years earlier, albeit for a slightly shorter term of five years.
Cricket Australia rounds out the top-three, with a $1.5 billion deal signed in 2025 with Seven and Foxtel, which runs from 2025 through 2031.
These long-term agreements represent a changing market, as streamers like Kayo and Stan Sport grow their subscriber bases, traditional free-to-air networks are doubling down on sport to maintain relevance.
Rights deals to keep an eye on in 2025 include Rugby Australia, Supercars Championship, Formula 1 and NBL who will all enter negotiations for their next contracts.
As the sport's rights arms race escalates, overseas competitions are increasingly gaining traction within the Australian viewership base.
Premier League football can be streamed exclusively on Optus Sport, after they signed a deal in 2023 worth $600 million, showcasing the potential of the game to generate subscriptions and advertising conversions.
Australia's media empires are telling every code that sport is still king, propelled by their willingness to spend handsomely to have rights to their content.
eToro AUS Capital Limited AFSL 491139. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.