LONDON – The sports media rights "bubble" is about to burst because of global broadcast piracy and the business model will have to be overhauled, the head of Qatar-based beIN Media Group said on Tuesday.
Chief executive Yousef Al-Obaidly told the Leaders Week Sport Business Summit in London that beIN now regarded all sports rights as non-exclusive, and future commercial offers would reflect that.
"I'm here to tell you how the endless growth of sports rights is over," he said. "Not only that, but in certain cases, rights values are going drop off a cliff, and the very economic model of our industry is going to be rewritten.
"Any rights-holders who think that the technology companies of the (U.S.) West Coast are their financial saviours are going to be swiftly disappointed."
The broadcaster has invested more than $15 billion in sports rights, including the English Premier League and other major soccer leagues and tournaments around the world.