Netflix is aiming to generate $3 billion in advertising revenue by the end of 2026, with a significant part of this growth hinging on its expanded investment in live sports. The company has allocated 5% of its content budget to live events, which now include its first Major League Baseball Home Run Derby broadcast and five NFL games for the upcoming season, featuring high-profile matchups on holidays and international venues. Netflix has also secured the rights to the 2027 and 2031 FIFA Women’s World Cup, and it is cultivating related documentaries like "The 99’ers" to build anticipation for these events.

During its recent earnings call, Netflix emphasized that live programming, particularly sports, will be a primary driver of ad revenue expansion moving forward. Although the MLB Home Run Derby drew 5.3 million viewers—its smallest audience since 2003—this decline is typical when content shifts from traditional TV to streaming platforms. The NFL games on Netflix include the first week’s clash between the Los Angeles Rams and San Francisco 49ers in Australia, as well as holiday contests such as the Thanksgiving Eve game and Christmas Day matchups. Additional sports content on Netflix currently includes WWE Raw weekly events and various one-off fighting and golf showcases.

Looking ahead, Netflix is exploring further expansion of its live sports portfolio beyond NFL and FIFA Women’s World Cup events. The company is considering acquiring more MLB games, potential NHL broadcasts after the 2027-28 season when current contracts expire, and exploring college sports streaming opportunities similar to Amazon’s recent Duke basketball deal. With leagues interested in creating smaller, event-style media packages, Netflix’s deep pockets and streaming platform make it an attractive partner in this evolving landscape.

Netflix faces some limitations, such as English-language rights for U.S. women’s soccer matches being held by Turner Sports until 2030, which may prevent Netflix from airing the 2027 Women’s World Cup matches in the U.S. However, the company’s strategy involves building excitement through documentaries and potentially acquiring rights for pre-World Cup friendlies or future streaming windows. As the streamer continues its targeted approach, live sports are positioned as central to Netflix’s plan to enhance advertiser appeal and drive growth in its ad-supported subscription model.