INVESTMENT PROFESSIONALS

10 Sep Live and Kicking

Posted at 07:54h in INSIGHTS by
The Los Angeles Lakers are a prime example. Purchased by Jerry Buss in 1979 for $16m, the franchise was worth $10 billion by June 2025. Just 14 months later, former Disney CEO Bob Iger and venture capitalist Josh Kushner reportedly acquired the team for $12.5 billion – a $2.5 billion value increase in just over a year. Kushner’s venture firm Thrive Capital, which saw massive success from early investments in technology companies like OpenAI and Stripe, entered the deal through a new vehicle, Thrive Eternal. Its specific mandate? To invest in “assets with qualities that cannot be replicated by technology”.
As artificial intelligence continues to blur the lines of reality, genuine human interaction is increasingly commanding a premium. And nothing captures the essence of raw, unscripted emotion quite like live sport. As investors and major streaming platforms flood into the space, the valuations of sports entities are skyrocketing to unprecedented levels.
This premium on live drama is fundamentally reshaping the sports media landscape. Netflix’s docuseries “Drive to Survive”, launched in 2019, is widely credited with rebuilding Formula One’s appeal with mainstream US audiences and driving massive global engagement. Fast forward to today and the number of US-hosted grand prix has tripled, Apple TV has secured exclusive US streaming rights, 43% of the fanbase is under 35, and the feature film “F1” generated $630 million. Netflix has pushed even further into live events like WWE, NFL Christmas games, and superstar boxing bouts, whilst also securing US and Canadian rights to the FIFA Women’s World Cup through 2031. Amazon has built out Thursday Night Football alongside a host of NBA games, Apple holds exclusive MLS rights, and YouTube has locked in NFL Sunday Ticket through a historic multi-billion-dollar deal.
However, the most-coveted commercial prize within the sports landscape remains the Men’s FIFA World Cup. Following a record-breaking 2026 tournament, which generated over 20 billion cross-platform views, FIFA is reportedly seeking up to $4 billion for the combined broadcasting rights for the 2030 and 2034 editions. While Fox and ESPN both intend to bid, Netflix, Amazon and YouTube are said to be interested as well. For the first time in the tournament’s history, streaming sites could be primed to outbid major cable networks.
In an era dominated by algorithms and screen fatigue, live sports deliver something authentically human: real-time stakes, genuine personal triumphs, and a shared communal experience. High Street has exposure to this critical marketplace across its funds, with holdings in Netflix, Apple, Amazon, and Alphabet providing broad access to this growing theme.
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