Published: Wed, June 06, 2018
Sports | By Juana Wells

Discovery, PGA Tour tee up $2 billion worldwide rights deal

Discovery, PGA Tour tee up $2 billion worldwide rights deal

It is a move that has been described as "pioneering" by the PGA Tour on their official website, as they hope to create "an global multi-platform home for golf".

The partnership between the pair will kick off next year and carry through to 2030, encompassing the distribution of about 2,000 hours of content a year, including the six Tours operating under the PGA Tour umbrella and almost 150 tournaments annually, including The Players Championship, the FedExCup Playoffs, and the Presidents Cup.

The partnership's top priority is a direct-to-consumer platform that not only streams the PGA's almost 150 tournaments each year, but also offers one-stop viewing for golf fans who want to watch highlights, learn about the sport's history or even improve their game with video lessons.

The deal gives the PGA Tour a partner with worldwide distribution expertise and OTT video chops.

The agreement for TV and digital rights to PGA Tour events in all territories outside the USA runs for 12 years, and comes after the company made a major statement of intent in live sports with a deal for Olympics rights in Europe between 2018-2024.

Sky are facing a battle to remain the UK's main broadcaster of the PGA Tour after the golfing body announced they are closing in on a £2billion deal with Discovery.

This story was delivered to Business Insider Intelligence "Digital Media Briefing" subscribers hours before appearing on Business Insider.

David Zaslav, president and CEO, Discovery, said: "Today is a fantastic day for golf fans around the world as Discovery proudly partners with the PGA Tour to create something that has never been done before".

"This is truly a global game", added PGA Tour Commissioner Jay Monahan.

The tour said Discovery expects to invest more than $2 billion over 12 years, which would include licensing of PGA Tour worldwide media rights and building a live stream platform outside the U.S.

Discovery Inc. President and CEO David Zaslav said that while it may take a while to create a platform and an experience that worldwide golf fanatics will embrace, the goal is to offer something that duffers can not live without. This partnership aligns very well with the opening of PGA Tour offices in London, Tokyo and Beijing in recent years and will support our long-term objectives of growing the game of golf. Discovery also will sublicense rights in some markets.

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