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Expand chart
Data: PwC Sports Outlook 2018; Chart: Lazaro Gamio/Axios

Media rights are the biggest sector within the sports industry in North America, according to a new report from PwC. Amid a flurry of increased digital competition for rights, they are expected to be the fastest growing,

Between the lines: More digital streamers, including Big Tech companies and media conglomerates, are vying to win the rights to lucrative sporting events, many of which are up for renegotiation over the next few years.

  • CNBC reported last week that Amazon has tossed a bid into the ring for Disney's 22 regional sports networks. It comes amid a broader push by the tech giant to win live sports rights, like its Thursday night NFL streaming deal.
  • John Skipper, who resigned as head of ESPN late last year, is back and looking to build a new global sports media giant in the U.S. called DAZN. Last week DAZN announced a deal with Major League Baseball that will allow it to show live look-ins throughout its prime-time programming in the U.S.

Yes, but: As Bloomberg's Gerry Smith notes, "Sports is moving to the internet. But the internet still isn’t ready for sports."

  • Last week, "AT&T Inc. was forced to make a pay-per-view golf match between Phil Mickelson and Tiger Woods free to watch on Friday after suffering a glitch processing customers’ online purchases."
  • "In August, Amazon had problems live streaming the U.S. Open for U.K. viewers, with fans complaining about poor picture quality and functionality.
  • "In July, YouTube’s TV service crashed while England and Croatia played in the World Cup semifinals."
  • "In February, some Hulu viewers got error messages during the final moments of the Super Bowl.

The bottom line: Digital streamers want to win sports rights to lure customers, but they're going to have to prove that their service will be a better live experience than linear television.

Go deeper:

Go deeper

1 hour ago - Sports

Unvaccinated athletes face 21-day quarantine at Beijing Olympics

Logos for the 2022 Winter Olympics at Yanqing Ice Festival in February 2021 in Beijing. Photo: Lintao Zhang/Getty Images)

Athletes, staff members and journalists at the 2022 Beijing Olympic and Paralympic Winter Games who have not been vaccinated against the coronavirus will be required to quarantine for three weeks, the International Olympic Committee (IOC) outlined in its newly-published "playbooks."

Why it matters: The quarantine period is longer than the Games themselves, meaning vaccinations or an earlier arrival date will be required to participate in or cover the Games.

Dan Primack, author of Pro Rata
4 hours ago - Economy & Business

FTX CEO predicts more U.S. crypto flight

Photo: "Axios on HBO"

FTX doesn't look much like a company valued at $25 billion. Its new headquarters, located in a sleepy part of The Bahamas, is so nondescript as to not even have a sign. But it does expect to soon have neighbors.

Driving the news: Founder and CEO Sam Bankman-Fried tells "Axios on HBO" to expect "more and more crypto flight from the states" if the U.S. doesn't soon create a regulatory regime for cryptocurrencies.

Developed countries reveal $100 billion climate finance plan ahead of COP26

Alok Sharma, head of the UN Climate Summit in Glasgow, speaks in Paris on Oct. 12. ( Li Yang/China News Service via Getty Images)

After 12 years of fits and starts, industrialized nations on Monday put forward a detailed plan to provide at least $100 billion annually in climate aid to developing countries starting by 2023.

Why it matters: The plan, presented by representatives of Canada and Germany, is aimed at defusing one of the biggest sources of tension at COP26, which is the failure of industrialized nations to follow through on their financial commitments.