Sarandos said the economics of professional sports were built around the economics of television - and buying rights is expensive. "We've not seen a profit path to renting big sports today," Sarandos told the UBS Global TMT conference. Rival streaming services Apple TV+ and Amazon Prime Video have added live professional sports competitions, acquiring rights to major league soccer and the NFL's Thursday night games, respectively.
Netflix's dominance of the streaming market is waning now that so many other options are available.
Yahoo Finance entertainment reporter Allie Canal joins the Live show to discuss the timeline for consolidation by competitors within the streaming space.