EXCLUSIVE: Netflix To Have Merry Christmas With NFL Games, Will Viewers Tune In? 60% Say…

Streaming giant Netflix Inc NFLX could get a viewership boost on Christmas Day thanks to the media rights to two marquee NFL games.

A recent Benzinga poll asks if viewers will be subscribing to Netflix to gain access to the NFL games or watching if they are already a subscriber.

What Happened: Netflix's push into sports and live content is gaining steam with the recent release of a Mike Tyson vs. Jake Paul boxing match that saw huge demand and the recent announcement that the streamer will be the exclusive home to the 2027 and 2031 Women's World Cups for American viewers.

On Dec. 25, Netflix will stream two NFL games, the first in a multi-year partnership that will see the streamer air at least one game on Christmas in 2024, 2025 and 2026.

This year's matchups feature four NFL teams that have all secured a spot in the NFL Playoffs and are among the best in the league. Here are the games:

• 1 p.m. ET: Kansas City Chiefs (14-1) at Pittsburgh Steelers (10-5)
• 4:30 p.m. ET: Baltimore Ravens (10-5) at Houston Texans (9-6)

Of the nine NFL teams with 10 or more wins, three are playing on Christmas Day on Netflix. The Chiefs and Texans have won their division, with the Steelers and Ravens both in the playoffs but fighting to win the same division.

Benzinga recently asked to see if subscribers will be watching the games along with their holiday festivities.

"Will you watch Christmas NFL games on Netflix?"

Here were the results:

• Yes, I already have Netflix: 39%
• No, I don't have Netflix and won't watch: 30%
• No, even though I have Netflix: 30%
• Yes, I plan to subscribe to Netflix to watch: 1%

The largest percentage of readers said they are subscribers and will be watching, getting 39% of the vote. Thirty percent of Netflix subscribers said they won't be watching despite being able to watch the games for free with their current subscription. Thirty percent also said they do not have Netflix and won't subscribe just to gain access to the NFL games.

In total, the poll found that 60% of readers don't plan on watching the NFL games on Christmas Day.

Read Also: Streamers Max, Paramount+ Won November: Here’s Why Analyst Expects Netflix, Amazon To Win December

Why It's Important: Netflix saw huge demand for the Paul vs. Tyson fight with more than 60 million households tuning in. Netflix co-CEO Ted Sarandos recently said the company may have left money on the table for advertising during the boxing match.

"If we knew the audience would be that big, we probably would have done a lot more selling on that fight,” Sarandos said.

While the NFL games might not have as big of an audience as the boxing match, the fact that the Kansas City Chiefs play in one game and Beyoncé is performing at halftime in the other could increase the audience compared to normal NFL games.

NFL viewership has been strong during the 2024 season and the Chiefs are one of the most popular teams in America based on viewership figures.

Netflix could win with a potential boost to overall subscriber figures with the exclusive rights to the games, while also gaining important revenue from its ad-supported members.

Oppenheimer analyst Jason Helfstein, who has an Outperform rating, raised the Netflix price target from $825 to $1,065 ahead of the NFL games.

The analyst believes each NFL Christmas Day game could bring in $75 million in advertising revenue for a total of $150 million. The $150 million from advertising would be equal to the reported $150 million Netflix is paying for the rights, making the games a "free acquisition tool," according to Helfstein.

The analyst estimates Netflix has a $2.2 billion advertising opportunity annually for live events based on $223 million per live event and 10 events per year in the future.

“Therefore, on top of a strong subscriber acquisition tool, live event advertising could also become meaningfully incremental to NFLX,” Helfstein noted.

Read Next:

• Netflix Q3 Earnings: Revenue Beats, EPS Tops, Q4 Guidance Projects Subscriber Boost From ‘Squid Game,’ NFL, And Boxing

The study was conducted by Benzinga from Dec. 18 through Dec. 19, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 159 adults.