1 week ago
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Diamond Sports reached a deal with Amazon's Prime Video that will allow its 16 regional sports networks to be made available on the streaming platform.
As part of the deal, Diamond's networks will be made available as an add-on subscription to Prime customers living within each team's designated geographic area. Further details, such as pricing, will be announced at a later date. Financial terms of the multi-year agreement weren't disclosed.
This marks the latest development for Diamond Sports as it looks to exit bankruptcy protection with a revamped business model.
In October, Diamond inked a naming rights deal with Flutter-owned FanDuel, rebranding its networks from Bally Sports to FanDuel Sports Networks. The name change took place immediately during the Hockey League season and ahead of the start of the 2024-2025 Basketball Association season.
On Thursday, Diamond will seek court approval for its reorganization plan, which has drawn criticism from Major League Baseball and the Atlanta Braves, who question the company's future viability under the plan.
Both the league and the Braves had requested further clarity on what the partnership with Amazon, which at the time wasn't solidified, would entail.
Diamond sought bankruptcy protection last year, toppled by a heavy debt load and the impact of cord-cutting on its networks as consumers opt out of cable TV bundles for streaming services.
Diamond has also inked deals with the NBA and NHL for TV and streaming rights for their teams. It has been negotiating with MLB teams on an individual basis.
Various regional sports networks, including the New York Yankees' YES Network, have launched streaming options in recent years. Amazon's Prime Video already airs a selection of Yankees games each season since it is a stakeholder in the YES Network.
Pricing has been on the higher end of the scale, as the networks have been careful when it comes to pricing their streaming options so as not to further disrupt the cable TV model and breach contracts with distributors. These contracts have long helped support the billions of dollars in fees that the networks pay professional sports teams to air games.
