Apple Re-Enters Fray For Streaming Rights Of Big Ten Athletic Events: Report

The Big Ten Conference, the oldest collegiate athletic conference in the United States, is floating a streaming package, and tech giant Apple, Inc. AAPL could be interested in lapping up the rights to it, the Athletic reported.

What Happened: Apart from Apple, Amazon, Inc. AMZN could be interested in the package, the report said, while Comcast Corporation CMCSA-owned NBC’s Peacock may also want to vie for streaming rights.

Apple had previously negotiated for the streaming rights to Big Ten athletic events, including football and basketball, 9to5mac said. The conference’s decision to add USC and UCLA earlier this summer has renewed Apple’s interest in the sporting event, as per The Athletic.

Related Link: Apple Ramps Up Sports Content With Major League Soccer Deal: What Investors And Sports Fans Should Know

Incidentally, Walt Disney Company DIS-owned ESPN has pulled out of the race to acquire media rights to Big Ten events, ending its 40-year relationship with the latter. Fox Corp’s FOXA Fox, Comcast’s NBC and Paramount Global’s PARA CBS will reportedly partner for the media rights deal.

Both broadcast and streaming rights will not include all Big Ten sporting events but only certain ones on certain days of the week.

Why It’s Important: Apple seeks to pick up big live sporting events to boost its Apple TV+ streaming service. 

In mid-June, the company signed a 10-year media rights deal with Major League Soccer, beginning in 2023, reportedly valued at $2.5 billion. The company said in March that “Friday Night Baseball,” featuring two MLB games will be available exclusively on Apple TV+.

Rumors also suggest the company is close to making public a deal for the National Football League Sunday Ticket package.

Price Action: Apple closed Tuesday’s session little changed at $164.92, according to Benzinga Pro data.