“It feels like this has come about given the lack of securing a streaming partner for the new World Cup club tournament due to start next year,” analyst Paolo Pescatore tells TVBEurope
FIFA is reportedly looking to raise $2 billion in investment for its streaming service, FIFA+.
Launched in April 2022, the global OTT service provides access to live matches from “every corner of the world”, as well as interactive games, news, tournament information, video content and more.
According to Bloomberg, football’s international governing body is working with UBS to raise the money, although both parties have declined to comment on the report.
A formal fundraising process is expected to begin next month, added the report, targeting investors in the Middle East and United States. The investment is expected to be for a minority stake in the platform.
According to analyst Paolo Pescatore the direction of travel towards major sports organisations launching their own streaming services has been clear for some time.
“An eagerly long-anticipated move should have been made a lot sooner,” he tells TVBEurope. “It feels like this has come about given the lack of securing a streaming partner for the new World Cup club tournament due to start next year.”
In terms of how investment into FIFA+ could impact deals with traditional linear broadcasters, Pescatore believes it is more about connecting with new audiences via internet delivery. “FIFA will need to manage its existing rights agreements carefully, given relationships that have been built up over time and the cannibalisation of its own revenue,” he adds.
Paramount to any scaling up of the platform will be its infrastructure and Pescatore says FIFA will need to spend time focusing on ensuring it has the right technology and a platform that can deliver live sport at scale. “No one has cracked this yet,” he states.
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