PGA Tour Strikes Massive Golf-Rights Deal With CBS, NBC and ESPN

[Y2kTheNewOldies]

The membership fees for TV’s golf club just got a lot more expensive.

The PGA Tour, the organizer of the main professional men’s golf tours in the U.S., has struck a new nine-year deal with CBS Sports, NBC Sports and ESPN that significantly raises the costs of bringing golf to U.S. fans while gaining new traction for digital coverage of the sport. The new pact grants TV rights to CBS and NBC and digital rights to ESPN between 2022 and 2030, and spotlights the increasing need the nation’s top media outlets have for live sports rights at a time when streaming-video entertainment continues to siphon away the audiences for live scripted fare.

A previous deal between the PGA Tour, CBS and NBC was valued at around $400 million, according to people familiar with the matter. PGA Tour officials are said to have negotiated an increase of at least 70% for the next rights pact, meaning the new cost could come to at least $680 million. The cost of the digital rights increased noticeably, according to some of these people. PGA Tour said it would not reveal financial terms of its agreements.

https://variety.com/2020/tv/news/pga-tour-golf-rights-cbs-nbc-espn-1203527292/

PGA gets new broadcasting rights deal to 2030.