Roku Is The Latest Streamer To Get Into Live Sports

Roku is entering the live sports streaming fray after striking a deal with Formula E. The company has partnered to become the streaming hub for Formula E races, starting with the 2024 season. Come January, Roku will be live-streaming 11 ABB FIA Formula E World Championship races on The Roku Channel. Simultaneously, five of the races will be live on the CBS Television Network and Paramount+, all of which are going to be available via the Roku Sports Experience.

Paramount+ subscribers will be able to watch the Formula E races live in the app. In addition to live races, Roku will further indulge racing fans with additional content such as highlights, event previews, replays, and even the Formula E docu-follow series, titled "Unplugged." The multi-year deal marks Roku's first live sports streaming deal as it tries to capitalize on attracting sports fans that are still clinging to cable TV.

The provisional calendar of ABB FIA Formula E World Championship's 10th season began on January 13, 2024 in Mexico City, and extends until July for Round 16 and 17 in London. One of the events is also taking place in Portland, following the first ABB FIA Formula E World Championship event held at the Portland International Raceway earlier this week. Roku evidently doesn't want to fall behind as streaming rivals turn to live sports.

Top streaming executives noted in this CNBC interview that live sports is critical, even if the streaming rights are expensive. Roku's content chief David Eilenberg says the deal makes it "easier for millions of TV streamers to discover the thrill of Formula E races through the unique integrated viewing experiences only available on Roku." 

However, the move is also a desperate attempt to catch up with the shifting landscape of streaming rights. Apple already has a deal in place with Major League Soccer, while YouTube has secured the rights for NFL Sunday Ticket. Prime Video subscribers can also enjoy live sports on the service if they have a Paramount+ subscription. 

Amazon in particular is reportedly planning to expand significantly into sports media. In November 2022, Amazon introduced a 12-hour, sports-centric program called Sports Talk on Prime Video and the ad-supported Freevee streaming service, as well as the live radio app Amp. In December 2022, The Information reported that Amazon was working on a standalone app dedicated to sports streaming as well. Prime Video also has a deal in place with the English Premier League.

Netflix has lately grown fond of sports, too. After producing the well-received, five-season documentary "Formula 1: Drive to Survive" and a golf series titled "Full Swing," the company is looking to delve deeper. The Wall Street Journal reports that Netflix plans to make a splash in the live sports segment with a celebrity golf tournament.