Streaming giant Netflix Inc (NASDAQ:NFLX) aired its first NFL games on Christmas Day with two games featuring four of the top teams in the league.
Here's a look at what happened and a poll that shows the holiday may have hurt viewership.
What Happened: Netflix spent an estimated $150 million on the rights to two 2024 NFL games on Christmas Day. Strong advertising demand may help the streaming giant recoup the fees and turn the events into free marketing plays.
The big question will be how many viewers tuned in to the NFL games as they were Netflix exclusives and also competed against NBA games, which have traditionally been a staple on Christmas. Family gatherings and events also likely took top billing on Christmas, leaving investors and analysts to eagerly await official viewership data.
Using Benzinga's own methods of polling, the data doesn't suggest that viewership will be as strong for the NFL games as some may be expecting.
"Did you watch Netflix football games?" Benzinga asked during its morning YouTube show "Benzinga's Market Edge Live."
The results from the show’s YouTube viewership were:
- Yes: 27%
- No: 72%
Benzinga also recently polled readers and asked if they would be watching ahead of the Christmas Day games.
“Will you watch Christmas NFL games on Netflix?” Benzinga asked.
Here were the results:
- Yes, I already have Netflix: 39%
- No, I don’t have Netflix and won’t watch: 30%
- No, even though I have Netflix: 30%
- Yes, I plan to subscribe to Netflix to watch: 1%
The largest percentage of readers said they are subscribers and will be watching, getting 39% of the vote. Thirty percent of Netflix subscribers said they won’t be watching despite being able to watch the games for free with their subscription. Thirty percent said they do not have Netflix and won’t subscribe just to gain access to the NFL games.
In total, the poll found that 60% of readers don’t plan on watching the NFL games on Christmas Day.
Why It's Important: NFL viewership has been strong during the 2024 season, with the Chiefs being one of the most popular teams. The official Netflix viewership figure could show what the appetite is like for more holiday NFL games and more streaming exclusives.
In the first Christmas Day game this year, the Kansas City Chiefs defeated the Pittsburgh Steelers 29-10 to take their record to 15-1 on the season. The Steelers dropped to 10-6 on the season, with both teams already having NFL Playoffs spots clinched.
Chiefs tight end Travis Kelce led the way with eight catches for 84 yards and a receiving touchdown, which set the record for the most receiving touchdowns by a Chiefs player all time with 76.
In the second Christmas Day game on Netflix, the Baltimore Ravens defeated the Houston Texans 31-2 to improve their record to 11-5. The Texans fell to 9-7 on the season. Both these teams have also clinched spots in the 2024 NFL Playoffs.
In the Ravens dominant win, quarterback Lamar Jackson rushed for 87 yards and a rushing touchdown. Jackson now has 6,110 career rushing yards, breaking a record previously held by Michael Vick.
With the win and dominant performance, Jackson remains a favorite to win a second-straight NFL MVP. Jackson, who won MVPs for the 2019 and 2023 seasons, ranks second in the betting odds at sportsbook DraftKings Inc (NASDAQ:DKNG) with odds of +170. Buffalo Bills quarterback Josh Allen is the current favorite at -225.
Here are the current Super Bowl LIX betting odds from DraftKings:
The Chiefs are back to being the betting favorite as they try to win three straight Super Bowls, which would be a first for any NFL team.
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Photo courtesy of Netflix.
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