Florida Panthers Switch to Local Broadcast TV
The Florida Panthers, the National Hockey League (NHL) Stanley Cup champions, have announced a new TV deal with E.W. Scripps, a broadcast station owner. This deal marks a significant shift in the team’s broadcasting strategy, as they will no longer be aired on the regional sports network (RSN) that has been their home for years.
The New Deal
The Panthers will air their regular season games on local broadcast networks in Florida, making them more accessible to fans. The deal with Scripps Sports will allow the team to televise all locally produced preseason and regular season games, as well as round one of the playoffs. The team is also working with Scripps Sports to launch a streaming service, with further details expected prior to the start of the 2024 season.
Why the Change?
The shift away from the RSN is due to the changing landscape of the sports broadcasting industry. Professional sports teams are increasingly opting for deals with local broadcast station owners as the RSN business model is under stress. Diamond Sports Group, the owner of the Panthers’ prior TV home, Bally Sports Florida, has been under bankruptcy protection since March 2023.
The Impact
This change has significant implications for the industry. The RSN business model has long been lucrative for the leagues and teams, with networks paying big fees for the rights to games that are not nationally aired. However, these deals with broadcast station owners promise a large increase in reach and audience. Games are now on broadcast networks available to all pay TV subscribers, as well as for free to people using an antenna.
What’s Next?
The Panthers’ deal with Scripps Sports is just the latest example of a trend that is expected to continue. Other professional sports teams, such as the National Basketball Association’s Phoenix Suns and Utah Jazz, are also aired on local broadcast stations. Various broadcast station owners have shown interest in becoming the homes of professional sports, as the traditional RSN business is under considerable stress.
Conclusion
The Florida Panthers’ decision to switch to local broadcast TV marks a significant shift in the sports broadcasting industry. As the RSN business model continues to evolve, it is likely that we will see more teams making similar deals with broadcast station owners. This change has the potential to increase reach and audience for professional sports teams, making them more accessible to fans.
FAQs
Q: Why is the RSN business model under stress?
A: The RSN business model is under stress due to consumers leaving the pay TV bundle in favor of streaming.
Q: What is the impact of the Panthers’ deal with Scripps Sports?
A: The deal will allow the team to televise all locally produced preseason and regular season games, as well as round one of the playoffs, on local broadcast networks in Florida.
Q: Will the Panthers’ deal with Scripps Sports be lucrative?
A: While terms of the deal are undisclosed, it is unlikely to garner the same size contracts as those with regional sports networks.
Q: What is the future of Diamond Sports Group?
A: Diamond Sports Group is still working to exit bankruptcy protection and has expressed concern over its future.
Q: Will we see more teams making similar deals with broadcast station owners?
A: Yes, as the traditional RSN business is under considerable stress, it is likely that we will see more teams making similar deals with broadcast station owners.
Author: www.cnbc.com
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