Amazon (AMZN) Adds AI Features to Thursday Night Football
Amazon AMZN is firing on all cylinders in the sports streaming space on the back of its strengthening relationship with the National Football League (“NFL”).
Amazon’s latest move of leveraging artificial intelligence (AI) and machine learning techniques to improve the streaming of Thursday Night Football (“TNF”) of NFL on Prime Video testifies the aforesaid fact.
In this regard, the company has come up with TNF’s weekly alternate stream called Prime Vision, which shows various graphics on the screen during the game to allow viewers to see real-time stats and analysis.
Moreover, the newly added AI features are the part of Prime Vision. New features include defensive alerts, Prime Targets, Fourth Down Territory, Field Goal Target Zones and Key Plays, which are designed to enable fans to dive deeper into the game analytics.
Notably, the new features will be rolled out on Sep 14, 2023.
On the back of these features, Amazon strives to deliver enhanced viewing experience to the fans.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Growing Relationship With NFL Holds Promise
We believe that the latest move is likely to strengthen the viewership of Prime Video on the heels of the strong popularity of NFL games. This, in turn, is expected to drive growth in its subscriber base.
Consequently, this will drive the company’s subscription revenues, which, in turn, will aid its overall performance.
Amazon witnessed 14% growth in its subscription services sales, which were $9.9 billion in second-quarter 2023.
In addition, strengthening Prime momentum will continue to aid AMZN in winning investors’ confidence in the near term. Amazon has gained 58.7% on a year-to-date basis.
Apart from the addition of new features, NFL has been leveraging Amazon Web Services’ cloud-computing solutions for its Next Gen Stats platform.
Growing relationship with NFL is likely to continue bolstering Amazon’s footprint in the booming sports streaming space.
Per a report from Verified Market Research, the global sports online live video streaming market is expected to reach $93.02 billion by 2030 by registering a CAGR of 24.6% between 2022 and 2030.
Per a report from Global Market Estimates, the market is likely to witness a CAGR of 21.5% between 2022 and 2027.
Rising Competition
Given the upbeat scenario, not only Amazon but also streaming giants like Disney DIS, Comcast CMCSA and FuboTV FUBO are noteworthy in this promising market.
Disney’s focus on sports streaming, particularly Live Sports, remains noteworthy. For instance, its ESPN+ streams tournaments like UFC Lightweight Championship, Major League Baseball, National Hockey League, Major League Soccer, Grand Slam tennis, Italy’s Serie A soccer and live sporting events, original shows, series and documentaries.
Meanwhile, Peacock, owned by NBCUniversal, a subsidiary of Comcast, streams games under Sunday Night Football package and Premier League Soccer.
Additionally, FuboTV is well-known for its variety of sports coverage. Recently, it has been appointed as the Official Streaming Service Partner for Women's National Basketball Association’s Chicago Sky.
Nevertheless, AMZN’s growing focus on live sports streaming is expected to continue aiding its competitive position against the above-mentioned players.
Currently, Amazon sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Comcast Corporation (CMCSA) : Free Stock Analysis Report
The Walt Disney Company (DIS) : Free Stock Analysis Report
fuboTV Inc. (FUBO) : Free Stock Analysis Report
