Facebook Joins Amazon, Disney In India's Hot Cricket Streaming Market
Facebook Inc (NASDAQ: FB) has partnered with Sony Corporation’s (NYSE: SNE) Indian unit to bring video-on-demand content of India’s ongoing cricket tour of Australia.
What Happened: The Mark Zuckerberg-led company’s digital content partnership with Sony Pictures Networks India (SPNI) spans multiple cricket formats including four test matches, according to India’s Moneycontrol portal.
Match highlights including best catches and best wickets would be available on Sony Sports India’s Facebook Page, which will allow users to watch moments they missed during the live-action, as per Moneycontrol.
Why It Matters: This month, Amazon.com, Inc’s (NASDAQ: AMZN) Prime Video snagged the rights to broadcast cricket matches between India and New Zealand, according to local Indian media.
The Amazon deal is valid through the end of the 2025-2026 season.
In 2017, Facebook had failed to secure rights to broadcast Indian Premier League cricket championships — even though it had bid $600 million for a five-year deal, which were ultimately secured by the Walt Disney Company (NYSE: DIS).
Price Action: Facebook shares closed nearly 0.8% higher at $277.81 on Friday and fell 0.11% in the after-hours session. On the same day, Sony shares rose 0.9% to $94.07 and rose 0.67% in the after-hours session in New York.
Photo courtesy: Vijay Cennupati via Wikimedia
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