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apple developer account('s La Liga to launch its own streaming platform, El Confidencial says


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,FILE PHOTO: Soccer Football - La Liga Santander - Atletico Madrid receive La Liga trophy - Wanda Metropolitano, Madrid, Spain - May 23, 2021 Atletico Madrid's Luis Suarez, Angel Correa and teammates celebrate with the trophy after winning La Liga REUTERS/Susana Vera

MADRID (Reuters) - Spain's top soccer league and private equity firm CVC plan to launch their own streaming platform, Spanish online paper El Confidencial reported on Monday, a move that would challenge telecom firms which offer match streaming in their packages.

La Liga agreed last week to a deal in which CVC would invest 2.7 billion euros ($3.18 billion) for 10% revenue and a 10% stake in a newly formed company housing a range of the league's commercial activities.

A proprietary streaming platform is one of the key plans under consideration to drive up earnings for the league, El Confidencial reported, citing unidentified sources.

Neither La Liga nor CVC returned a request for comment.

If it goes ahead, such a platform would come as a blow to current rightholder Telefonica who pays La Liga 1 billion euros per season for the right to stream football matches to customers who pay a premium for sports packages.

Telefonica's contract expires in 2023. France's Orange has a sublicensing agreement, under which it pays Telefonica for the rights to broadcast fixtures from the 2021/2022 season.

While customers of Telefonica's Movistar subsidiary pay up to 130 euros a month for live football in a package that also includes telephone, cable TV and internet services, La Liga and CVC believe they can offer a simple package of just football streaming for around 13 euros, El Confidencial said, citing unidentified sources.

Telefonica and Orange declined to comment.

($1 = 0.8503 euros)

(Reporting by Nathan Allen and Inti Landauro; Editing by Anil D'Silva)



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