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Diamond Sports reached a deal with Amazon’s Prime Video which allows 16 regional sports networks to be available on the streaming platform.
As part of the deal, the Diamond network will be available as an add-on subscription to Prime subscribers living in each team’s designated geographic area. More details, such as pricing, will be announced later. Financial terms of the multiyear deal were not disclosed.
The agreement is non-exclusive, meaning Diamond could still pursue streaming rights with other partners, according to people familiar with the matter. The company’s previously launched FanDuel Sports Network streaming option will still be available.
This marks the latest development for Diamond Sports as it looks to emerge from bankruptcy protection with a revamped business model.
In October, Diamond signed a naming rights agreement Flutter-owned by FanDuel, rebranding the network from Bally Sports to FanDuel Sports Network. The name change takes effect immediately during the National Hockey League season and before the start of the 2024-25 National Basketball Association season.
Earlier this week, Diamond also announced that it will offer games on an a la carte basis at $ 6.99 per game from December 5, which does not require a subscription. Both Prime Video and the FanDuel Sports Network app will offer a single game, according to people familiar with the offering.
On Thursday, Diamond will seek court approval for the reorganization plan, which has drawn criticism from Major League Baseball and the Atlanta Braves, who have questioned the company’s future in the plan.
The league and the Braves sought more clarity on the partnership with Amazon, which at the time was not solid.
Diamond filed for bankruptcy protection last year, weighed down by its heavy debt load and the effect of cable-cutting on networks as consumers opt out of cable TV packages in favor of streaming services.
Diamond also has deals with the NBA and NHL for TV and streaming rights for the teams. 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 Prime Video has broadcast select Yankees games each season as a stakeholder in the YES Network.
Prices have been on a higher scale, as networks have been careful when pricing streaming options to avoid disrupting the cable TV model and violating contracts with distributors. Those contracts have long helped support the billions of dollars paid by networks for professional sports teams to play games.
