SOCIAL MEDIA COMPANIES OFFERING FOX 'TENS OF MILLIONS' FOR '18 WC VIDEO HIGHLIGHTS
Facebook (FB), Twitter (TWTR) and Snap Inc. (SNAP) are said to be among the companies offering 21st Century Fox (FOXA) tens of millions of dollars, for the rights to stream video highlights from the 2018 World Cup. The recent demand for premium video content, from social media companies, provides Fox with a significant new source of revenue and means to promote its television coverage. Fox paid $400 Million for the exclusive rights to air games from the next 3 World Cups (2018, 2022 & 2026), on broadcast and cable TV, in the U.S.
Howie Long-Short opines: SNAP is looking for another negative-margin revenue line? I'm not sure why FOX would want to empower future competitors.
Fan Marino says: You have to hope Twitter wins the bidding war. As a real-time news source, it's the only logical place for game highlights. Your modern day SportsCenter.