Bloomberg reports that Twitter and Facebook are set to go head to head over next year’s FIFA World video rights scheduled to be hosted by Russia. Fox Sports holds the exclusive rights, and both social media giants are eager to win the race to broadcast the month-long event held every four years to users.
According to Bloomberg, both companies are set to spend millions of dollars to win the rights to stream the event that will see teams from 32 countries compete for the coveted trophy.
Citing two people familiar with the matter, the report said, both Facebook and Twitter are prepared to part with tens of millions of dollars to win the race to broadcast the event to millions of homes across the world. Not much details were made available by the sources whose identities were not revealed by Bloomberg. Talks are said to be ongoing and private, and the two people refused to provide further details. However, Fox Sports has not decided on which of the two social media platform to sell the exclusive rights. It has also not made up its mind whether to sell the rights to one buyer or to spread them around,
The FIFA World Cup is a major footballing event that holds every four years. It is an event that rakes in billions of dollars to FIFA, the football governing body responsible for organizing the event.
Hundreds of media organizations all over the world pay huge amount of money to be part of the event and have access to the games. Involving 32 teams from different countries of the world, Facebook and Twitter will see next year’s World Cup as a huge opportunity to rake in millions of dollars in terms of revenue sponsorship.
In 2016, Twitter and the NBA inked a deal that gave the microblogging platform the right to live-stream original programs created exclusively for the later. According to the deal, the NBA will produce two new shows that will be beamed live on its website and app beginning in the 2016-2017 season. The first one will be available for both users and visitors on Twitter.
However, the deal did not include livestreaming of games. Unlike the NFL deal, which gave Twitter rights to beam live matches, NBA lovers won’t have the opportunity to watch their favorite NBA stars.
The NBA is also planning to add to the number of digital content it creates for Twitter, Vine and Periscope. On Twitter, Vine and Periscope, the NBA will include more in-game highlights, behind-the-scenes shots, footage of player arrivals during games, and live streams of interviews. Both companies will be sharing revenues generated from ads on the video clips.
Recall that Twitter successfully brought us live videos of the recently concluded Wimbledon tournament held in England. Twitter represents a huge and successful platform not just for the NBA and its followers, but for other major sports around the world.
Facebook too is not left out; the social media behemoth is home to more than 2 billion people who gulp hours of live videos every day.