- Sponsors paid $6.5million for an ad slot during the 2022 Super Bowl broadcast
- The Netflix Cup will feature golfers and F1 drivers from a pair of Netflix series
- DailyMail.com provides all the latest international sports news
Netflix is charging sponsors $2million for their first live sporting event on November 14.
The Netflix Cup, which was announced on October 17, is the streaming platform’s first swing at live sports.
Netflix is capitalizing off the success of its sports documentaries for the event. The golf tournament features golfers from ‘Full Swing’ pairing up with drivers from ‘Formula 1: Drive to Survive’. The event is designed to kick off the Las Vegas Grand Prix.
While the Netflix Cup will air commercial-free, companies can pay to have their names plastered on the course at Las Vegas’ Wynn Golf Club.
According to Netflix’s President of Advertisement Amy Reinhard, ‘T-Mobile, Nespresso, and others will be the presenting Live Sponsors’ for the tournament.
Netflix is one of the biggest streaming platforms with around 247 million paid subscribers
Netflix will host its first live sports event on November 14 ahead of the F1 Las Vegas Grand Prix
Netflix is stepping into live sports behind most of its competitors. Paramount, Apple TV, Peacock and Amazon have been home to sports entities including the UEFA Champions League, The Premier League, Major League Soccer and ONE Championship.
Rather than buying streaming rights to traditional sports, Netflix opted to build on two of their original series to create their first event.
‘We love to see how our sports series have brought increased fandom to sports leagues and competitions all over the world,’ said Gabe Spitzer, Vice President, Nonfiction Sports, Netflix. ‘The Netflix Cup will take that energy to the next level with global stars from two popular hits competing in our first-ever live sports event.’
The PGA Tour charges title sponsors $25m-per-year. Meanwhile, Formula 1’s race sponsorship varies from $1m to $5m per race. The $2m price tag for the Netflix Cup is about a third of the cost for a Super Bowl commercial in 2022.
Golf Digest reported that 63 percent of ‘Full Swing’ viewers went on to watch the PGA Tour coverage two months later.
Meanwhile, Formula 1’s TV viewership has nearly doubled since ‘Drive to Survive’ debuted on Netflix in 2019. F1 went from 672,000 viewers per race in 2019 to 1.21million in 2022.
Celebrity golf tournaments have gathered viewers well in the past. In July, the American Century Tournament which featured the likes of Stephen Curry, Patrick Mahomes and Canelo Alvarez averaged 978,000 viewers, the most since 2009.
