In a bold play to score big in the sports content arena, Amazon is rumored to be eyeing an investment in Diamond Sports Group, aiming to become the MVP of regional sports programming. Meanwhile, in the retail financing league, Walmart has extended its partnership with Affirm to let consumers bag now, pay later at self-checkout.
Although Diamond Sports Group had money problems earlier this year, it is bouncing back. According to a Monday (Dec. 18) Wall Street Journal report, the company, which broadcasts games for over 40 major sports teams, is talking with Amazon. They’re discussing a strategic investment and a long-term streaming partnership. This could be a big deal for both Diamond and Amazon, shaking things up in the sports content world.
Should an agreement be finalized, Amazon’s Prime Video platform is poised to become the exclusive streaming destination for Diamond’s extensive roster of games.
Diamond currently holds the local broadcasting rights for approximately half of the teams in Major League Baseball and the National Basketball Association, and about a third of the National Hockey League teams.
While Diamond will continue operating its cable networks through existing partnerships, teaming up with Amazon will allow it to significantly expand its streaming footprint.
While the financial particulars of the potential investment remain unclear, the discussions have reportedly garnered support from a specific group of creditors. However, it’s crucial to note that any transaction must secure approval from the bankruptcy court and may face hurdles along the way.
A successful deal would mark a milestone for both Diamond Sports Group and Amazon. For Diamond, aligning with Amazon serves as a crucial lifeline, enabling the company to sustain its operations and steer clear of liquidation. PYMNTS noted in its original report that the challenges posed by cord-cutting trends, where consumers increasingly favor streaming services over traditional cable subscriptions, have affected Diamond’s subscriber revenue and advertising rates.
For Amazon, this collaboration accelerates the eCommerce giant’s aggressive foray into sports content. With existing rights to stream NFL games and potential pursuits in NBA coverage, partnering with Diamond would bolster its Prime Video platform. Amazon, already involved in regional sports network business through its stake in the YES Network, home to the New York Yankees and Brooklyn Nets, aims to enhance its sports content offering by incorporating popular local teams.
In a recent move within its sports content strategy, Amazon incorporated in-game shopping opportunities during a Black Friday football game, showcasing its innovative approach to the intersection of eCommerce and sports entertainment.
Meanwhile, Affirm’s pay-over-time option is now available at self-checkout kiosks in over 4,500 Walmart stores across the United States.
“Recent Affirm research revealed that more than half of Americans are looking for retailers to offer a buy now, pay later option at checkout,” Affirm Senior Vice President of Revenue Pat Suh said in a news release.
“Moreover, we’ve found that 76% of consumers would either delay or not make a purchase without Affirm. Expanding our partnership with Walmart and bringing Affirm’s transparent monthly pay-over-time options to their self-checkout kiosks in the U.S. will help even more consumers increase their purchasing power during the holiday shopping season and beyond.”
Besides using Affirm at Walmart’s physical stores, website, and app, customers now have the option to pay with Affirm at Walmart’s vision and auto centers.
According to PYMNTS, 16% of people in the United States — about 40.5 million consumers — used buy now, pay later (BNPL) options in April. And 43% of BNPL users said they would have either put off buying something or picked a less expensive option if BNPL wasn’t available.
For retailers, offering BNPL as a payment option can boost the chances of selling higher-value products, per PYMNTS Intelligence.
When it comes to how often people use BNPL, the study reveals a certain regularity. On average, 16% of BNPL users made weekly purchases with the service, while an additional 25% did so on a monthly basis. This indicates that nearly 4 out of 10 U.S. consumers utilized BNPL at least once a month. This frequency was even higher among millennials and bridge millennials, with almost half of this group using BNPL at least once a month.
Read more: 4 in 10 BNPL Shoppers Use It at Least Once a Month
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