The only streaming platform fans want a sporting event aired on is one in which they already have a subscription. That’s why, on the surface, Amazon buying a minority stake in Bally Sports is a rare win for the people who make these franchises profitable. (No, not the owners. The fans.) The move announced Wednesday helps Diamond Sports Group, owner of Bally Sports, in their ongoing effort to claw out from bankruptcy.
“We are thrilled to have reached a comprehensive restructuring agreement that provides a detailed framework for a reorganization plan and substantial new financing that will enable Diamond to operate and thrive beyond 2024,” DSG CEO David Preschlack said in a statement. “We are grateful for the support from Amazon and a group of our largest creditors who clearly believe in the value-creating potential of this business.”
The main thing to know for those who are a fan of one of the 37 teams under the Bally banner: You will be able to stream your club’s games on Prime if you’re in the local market. That’s fantastic news for cord cutters looking to consolidate their subs. When ESPN releases its straight-to-consumer option in a couple of years, there will only be a few live sports services on the periphery that require rarely used passwords or an inconsistent illegal stream.
The biggest loser from this development is cable companies, who are once again scrambling for reasons to exist. Bally filed for bankruptcy largely because cable companies wouldn’t meet their asking prices, while dealing with the fallout from streaming services siphoning off revenue.
It’s a welcome comeuppance for any of us who’ve been stalked by Comcast for not returning equipment they took out of circulation years ago. Without landlines and cable boxes, all these companies have left is the internet, and assuredly they will hold onto until Jeff Bezos pries the utility from their cold, decaying grasp.
If Peacock really wanted to goad users into shelling out $5.99 per month for its barely redeemable product, they should’ve purchased Bally Sports. These kind of shrewd acquisitions are why Bezos is going to be a trillionaire within the decade. People just wanted their shopping cart delivered within two days, and now are getting free NFL, NBA, MLB and NHL games, and a couple seasons of Reacher, too.
It’s a win-win if you don’t think about the endgame — five companies trading the profits of the world’s content consumption. It won’t take long before insatiable greed and investors dictate a price hike, because the minions can’t possibly get a raise without the executives also receiving one.
Sports are a release for many people, a way to turn off their brains and remove themselves from another shift in the salt mines. The cheaper they can access these outlets, the better, because worrying about a raise, the economy or the jackals in charge of both, is pointless.
Please accept these small wins as worthy payment for a lifetime of service at jobs that will unceremoniously lay you off, underpay you and ask that you tether yourself within a commutable distance to an office that’s barely populated or heated.
