financetom
Business
financetom
/
Business
/
Amazon Stock Jumps As NBA Signs Prime Video Broadcasting Deal: What You Need To Know
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Amazon Stock Jumps As NBA Signs Prime Video Broadcasting Deal: What You Need To Know
Jul 24, 2024 2:49 PM

Amazon.com Inc ( AMZN ) shares are rising in Wednesday’s after-hours session after the National Basketball Association (NBA) announced a deal in which Prime Video will telecast NBA games over the next decade.

What Happened: The NBA announced a renewal of its partnership with Walt Disney Co ( DIS ) , as well as new agreements with NBCUniversal and Amazon ( AMZN ) under which ABC/ESPN ( DIS ), NBC/Peacock and Prime Video will telecast NBA games beginning with the 2025-26 season. The deal is set to remain in place through the 2035-36 season.

“Our new global media agreements with Disney ( DIS ), NBCUniversal and Amazon ( AMZN ) will maximize the reach and accessibility of NBA games for fans in the United States and around the world," said NBA Commissioner Adam Silver

"These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade."

Check This Out: Could Warner Bros. Vs. Amazon Battle Be Brewing For NBA Rights? Mark Cuban Shares His Suggestion

Under the new deal, Amazon ( AMZN ) will distribute 66 NBA regular-season games on Prime Video each season.  In addition, Prime Video is now set to stream the Championship Game of the Emirates NBA Cup.

Amazon’s Prime Video will also distribute all six NBA Play-In Tournament games and stream approximately one-third of the first and second rounds of the playoffs each year. Prime Video will also stream one of the two Conference Finals series in six of the 11 years on a rotating basis with NBCUniversal.

Amazon ( AMZN ) plans to distribute NBA games globally as part of Prime Video and offer an expanded package of games in select territories. The expanded package includes a minimum of 20 additional primetime regular season games each year, a Conference Finals series each year and the NBA Finals in six of the 11 years.

The NBA also announced that Amazon’s Prime Video will become a strategic partner of the NBA, making it the third-party global destination of NBA League Pass.

AMZN Price Action: Amazon ( AMZN ) shares were up 0.42% after hours at $181.59 at the time of publication Wednesday, according to Benzinga Pro.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved