As fans cut cable, media giants face rising costs and uncertain returns in the race to stream live sports
New York, 6 February 2026 – The business of sports broadcasting has enjoyed years of steady growth, fueled by loyal fans and long-term cable subscriptions. But as the National Football League prepares for its 60th Super Bowl, the industry behind live sports is entering a challenging transition phase as streaming platforms take center stage.
For decades, live sports were the main reason millions of households kept expensive cable and satellite TV packages. That model is now weakening. Major broadcasters such as ESPN and Fox have launched direct-to-consumer streaming services, making it possible to watch almost any sport online in the United States without traditional pay TV.
This shift has created new challenges for media leaders, including executives at Walt Disney Company, which owns ESPN, and Amazon. Unlike cable subscribers, streaming users frequently cancel and restart services, making revenue less predictable. With the number of cable households down by about half over the past 15 years, retaining streaming viewers has become the industry’s biggest concern.
Major events highlight both the opportunity and the risk. Two years ago, more than 120 million people watched the Super Bowl on CBS, while its streaming service gained millions of new users. However, many of those subscribers canceled within months, showing how difficult it is to turn big moments into long-term loyalty.
Streaming platforms are trying to make up for this instability through advertising. This year, Peacock, owned by Comcast, is charging millions of dollars for Super Bowl commercials, using live sports as a rare chance to attract massive audiences at the same time. Advertising rates remain strong, proving that sports still hold enormous commercial value.
The biggest challenge is cost. ESPN spends billions each year on sports rights, production, and programming. While streaming subscriptions are growing, they still fall far short of replacing the revenue once generated by cable fees. To match old earnings, ESPN would need tens of millions of loyal subscribers paying monthly without canceling, a difficult target in today’s on-demand culture.
For fans, the new era can be expensive and confusing. Replacing a single cable package now requires multiple streaming subscriptions, including services for exclusive NFL games on platforms like Amazon Prime Video and special holiday broadcasts on Netflix. While these services offer extra content such as movies and TV shows, viewers often pay more and spend more time searching for games.
To ease the pressure, companies are beginning to rebundle sports content. Even longtime competitors are partnering to offer combined packages at discounted prices. Platforms are also expanding internationally, helping sports like European soccer and Formula 1 grow their audiences in the United States.
Streaming is also opening doors to younger viewers. Digital-native fans are more willing to pay for sports content online, especially when paired with fantasy leagues, live stats, and sports betting features. Advertisers are following closely, with U.S. streaming ad revenue expected to overtake traditional TV within the next few years.
Despite the turbulence, analysts agree that live sports remain one of the most valuable assets in media. The path forward will require better technology, smarter pricing, and more engaging platforms. While the transition may feel like a rebuilding season, the sports broadcasting industry is adapting its playbook in hopes of scoring again in the streaming age.
