MMM: Netflix Ventures into Live Sports as Sportsbook Apps Spike Ahead of Boxing Match

Key Takeaways:

• The Jake Paul vs. Mike Tyson event propelled Netflix to its highest-ever daily active user count in the US, with a 124% increase compared to the previous month's average, and 133% increase in app downloads vs. the 2024 daily average

• Per ST data, the event catapulted Netflix to the top of the Entertainment app charts in 57 countries the day following the event (11/16/24)

• The live event emerged as Netflix's most-watched show in Nov’24, representing 10% of total user time on the desktop app and achieving more than double the watch time of the popular series "Outer Banks," underscoring the significant impact of live content on user engagement

• Per ST data, the NFL is correlated with two of the three largest DoD spikes in US downloads across the major sportsbook apps, as the Super Bowl and the start of the 2024 NFL season saw downloads jump 170% and 95% DoD, respectively. The other massive spike in downloads occurred during the Paul/Tyson bout, as downloads soared 120% DoD, corresponding with Netflix’s initial foray into live sports

• As the sports betting industry expands, including record profits in 2023, US ad spend across the cohort continues to grow, up 43% YoY in 3Q24. FanDuel Sportsbook accounts for over 50% of spend across the cohort in 2024 YTD, as US ad spend for the brand is already up 15% YoY vs 2023

• However, DraftKings outspent FanDuel by 10x in promoting the opportunity for fans to bet on the upcoming fight. Creative analysis also shows that NFL content is still king across the top sportsbook apps, as the wider cohort spent 12x on NFL betting content in Nov’24 MTD vs boxing content

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