MLB Scores Big Wins In New Media Agreements With Netflix, NBC/Peacock And ESPN

When ESPN opted out of its final years with MLB this year, the prospects of the league recouping the $550 million per year ESPN paid while maintaining the same mainstream presence were bleak. But MLB appears to have recovered more effectively than expected.

According to the New York Times, MLB is close to a deal with Netflix that would give the streamer exclusive rights to Opening Day 2026 between the Yankees and Giants. Netflix will broadcast the March 25 opener in San Francisco in primetime as part of a three-year agreement with the league.

The Yankees-Giants matchup will be the only game that day, with the rest of the teams opening the following day.

In addition, Netflix will take over exclusive rights to the Home Run Derby and select special regular-season events, including the "Field of Dreams" and "MLB Speedway" games.

SAN FRANCISCO, CALIFORNIA - JULY 8:  Rob Manfred speaks during the Willie Mays Celebration of Life Ceremony at Oracle Park on July 8, 2024 in San Francisco, California. (Photo by Tony Avelar/San Francisco Giants/Getty Images)

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MLB is also close to finalizing a three-year deal with NBC. As part of the agreement, NBC will assume rights to "Sunday Night Baseball" and air the first round of the playoffs, two of the packages ESPN opted out of. NBC’s Peacock will also replace Roku as the home of late Sunday morning games.

ESPN will not be completely out of the picture. The network plans to license its out-of-market package, MLB TV — presumably as part of its new direct-to-consumer app — and will air 30 national weekday games per season. ESPN’s new three-year deal with MLB is worth the same $1.65 billion as its previous agreement, the Times reports.

Altogether, the new media rights represent a significant win for MLB and commissioner Rob Manfred. "Sunday Night Baseball" and the wild card round will now reach more homes, moving from ESPN to NBC. Still, it was important for the league to maintain ties with ESPN because of its unmatched promotional reach.

NETFLIX

The addition of Netflix is notable. With roughly 301.6 million subscribers, Netflix remains the dominant global streamer. It has been selective with sports rights, pursuing marquee events rather than weekly coverage. That approach has paid off, from NFL games on Christmas Day to the biggest fights in boxing.

On Netflix, Opening Day will feel bigger than it has in years.

While the total revenue from MLB’s deals with Netflix, NBC, and ESPN is not yet clear, it will exceed the league’s previous single agreement with ESPN.

MLB also retains its deals with Fox and TBS. In three years, the league will have the opportunity to take its full inventory to market, when it hopes to sign long-term agreements with a mix of broadcast and streaming partners.

For all the talk of baseball being outdated, the market says otherwise.