The Florida Panthers, the Stanley Cup champions, recently announced a significant change in their broadcasting strategy. They have chosen to move away from the cable TV regional sports network that has been their home for many years and signed a multiyear deal with E.W. Scripps to air their regular season games on local broadcast networks in Florida. This decision comes as a shift in the sports broadcasting landscape, where more professional sports teams are opting for deals with local broadcast station owners over regional sports networks.
The move made by the Panthers reflects a larger trend in the industry. As consumers increasingly move away from traditional pay TV bundles in favor of streaming services, regional sports networks have struggled to maintain their business model. Diamond Sports Group, the owner of the Panthers’ prior TV home, Bally Sports Florida, filed for bankruptcy protection in March 2023, adding to the challenges faced by the regional sports network business. This shift has created a significant moment of change for the industry, leading professional sports teams to reevaluate their broadcasting partnerships.
By partnering with a local broadcast station owner like E.W. Scripps, the Panthers are aiming to expand their reach and audience. The new deal allows for all locally produced Panthers games to be televised, as well as coverage of the first round of the playoffs. Additionally, the Panthers are working with Scripps Sports to launch a streaming service, providing fans with more options to watch their favorite team in action. While the exact terms of the deal were not disclosed, it is clear that the Panthers are prioritizing accessibility and engagement with their fan base.
The transition from regional sports networks to local broadcast stations represents a shift in the sports broadcasting landscape. While regional sports networks have traditionally paid significant fees for exclusive broadcasting rights, local broadcast station owners offer a broader reach and potentially more exposure for professional sports teams. The move towards broadcast networks also opens up new opportunities for partnerships and collaborations in the sports media industry, as more teams seek alternative broadcasting options.
As Diamond Sports Group works to reorganize and exit bankruptcy protection, there may be more changes on the horizon for the sports broadcasting industry. The uncertainty surrounding the future of regional sports networks has prompted professional sports teams to explore new avenues for broadcasting their games. By aligning with local broadcast station owners, teams like the Florida Panthers are adapting to the evolving media landscape and ensuring that their games remain accessible to fans across different platforms. This strategic shift reflects a broader trend in the industry towards greater flexibility and innovation in sports broadcasting partnerships.
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