CNBC Top NewsCodex · 实盘不做把握 6/10
北京时间·🕒 发布 20:00:01时区推断·⟳ 抓取 20:02:53·⚡ 决策 07-29 20:04:17 +1m24s·90.2 天前
YES Network与MSG Networks将把本地体育DTC流媒体迁移至DAZN
事件核心受益方DAZN为私人公司,无法直接交易。
📄 原文CNBC Top News↗ 原文
YES Network, MSG Networks to exit Gotham app for DAZN streaming service
The YES Network and MSG Networks will soon have a new streaming home. The independently owned, top-tier regional sports…
不做 Sphere Entertainment(SPHR.US)
MSG Networks迁移DTC流媒体到DAZN未披露保底费、分成或现金流改善,且RSN压力已是旧背景,缺少可交易edge。
不做 Madison Square Garden Sports(MSGS.US)
球队媒体权利费是否改善没有新增披露,本条只是分发渠道变化,不能证明短周期收入或利润上修。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- CNBC报道YES Network与MSG Networks的DTC流媒体将迁移至DAZN,未披露定价或财务分成。
- 此前已有公开资料讨论MSG Networks债务重组、权利费下调和RSN模式压力,说明本条不是首次揭示行业困境。
关键理由
- 事件核心受益方DAZN为私人公司,无法直接交易。
- 对Sphere Entertainment(SPHR.US)旗下MSG Networks而言,这是DTC分发渠道迁移,未披露价格、分成、用户承诺或债务/权利费改善。
- 对Madison Square Garden Sports(MSGS.US)而言,球队本地媒体权利费压力已在2025年重组中体现,本条没有新增可量化球队收入上修。
主要风险
- 若后续披露DAZN支付保底费用、收购MSG Networks或显著改善媒体权利现金流,需重新评估SPHR.US/MSGS.US。
- RSN模式承压是已知背景,本条更像分发安排调整而非短线业绩催化。
原文全文
展开原文 · 2,744 字
The YES Network and MSG Networks will soon have a new streaming home.
The independently owned, top-tier regional sports networks that air local games for teams including MLB's New York Yankees and the NBA's New York Knicks are moving their direct-to-consumer streaming offerings to DAZN.
The two networks will exit their joint venture, the Gotham Sports app, roughly two years after its formation.
Yankees fans will still be able to finish out the season on Gotham, and the migration will occur during the 2026-2027 NBA and NHL seasons. YES also airs the NBA's Brooklyn Nets, while MSG Networks has the rights to the NHL's New York Rangers, Islanders, Buffalo Sabres and New Jersey Devils.
Pay TV bundle customers who get access to each network through their cable provider will be able to stream those games on DAZN for free.
Pricing details for the New York-area teams on DAZN haven't yet been released. Various subscription plans for the Gotham sports app started at about $209.99 per year.
The move to DAZN for some of the most popular professional teams comes as the regional sports network model faces severe pressure. Main Street Sports, the former owner of a portfolio of networks for MLB, NBA and NHL teams, shut down in the spring following a bankruptcy filing and various maneuvers that left the business often unable to make payments to teams for the rights to carry games.
While YES and MSG have not been directly involved in that turmoil — MSG Networks is independently owned by Knicks and Rangers owner James Dolan, and YES, by a group including the Yankees — each channel has been affected by similar cord-cutting headwinds despite strong ratings.
DAZN has been among the suitors in a relatively strong position during the shakeout of streaming-only sports rights formerly owned by Main Street.
Many networks have launched their own streaming offerings in recent years in a bid to grab the fans who either cut their pay TV bundles, or never had them in the first place. Others have partnered with established players like Amazon Prime Video to stream games.
DAZN is a global streaming service looking to gain ground in the U.S. Last year DAZN was the streaming home of the FIFA Club World Cup in the U.S., and one of its executives has publicly said it was chasing the digital rights for Main Street's NBA teams.
For YES and MSG, their teams' fans have been through a few switches already. YES and MSG each launched their own apps in 2023 before combining into the Gotham app in 2024.
MSG's linear networks suffered a temporary blackout in 2025 with cable TV provider Optimum, one of the New York area's cable providers, and YES Network recently came close to a similar situation with Comcast, as CNBC Sport previously reported.
The independently owned, top-tier regional sports networks that air local games for teams including MLB's New York Yankees and the NBA's New York Knicks are moving their direct-to-consumer streaming offerings to DAZN.
The two networks will exit their joint venture, the Gotham Sports app, roughly two years after its formation.
Yankees fans will still be able to finish out the season on Gotham, and the migration will occur during the 2026-2027 NBA and NHL seasons. YES also airs the NBA's Brooklyn Nets, while MSG Networks has the rights to the NHL's New York Rangers, Islanders, Buffalo Sabres and New Jersey Devils.
Pay TV bundle customers who get access to each network through their cable provider will be able to stream those games on DAZN for free.
Pricing details for the New York-area teams on DAZN haven't yet been released. Various subscription plans for the Gotham sports app started at about $209.99 per year.
The move to DAZN for some of the most popular professional teams comes as the regional sports network model faces severe pressure. Main Street Sports, the former owner of a portfolio of networks for MLB, NBA and NHL teams, shut down in the spring following a bankruptcy filing and various maneuvers that left the business often unable to make payments to teams for the rights to carry games.
While YES and MSG have not been directly involved in that turmoil — MSG Networks is independently owned by Knicks and Rangers owner James Dolan, and YES, by a group including the Yankees — each channel has been affected by similar cord-cutting headwinds despite strong ratings.
DAZN has been among the suitors in a relatively strong position during the shakeout of streaming-only sports rights formerly owned by Main Street.
Many networks have launched their own streaming offerings in recent years in a bid to grab the fans who either cut their pay TV bundles, or never had them in the first place. Others have partnered with established players like Amazon Prime Video to stream games.
DAZN is a global streaming service looking to gain ground in the U.S. Last year DAZN was the streaming home of the FIFA Club World Cup in the U.S., and one of its executives has publicly said it was chasing the digital rights for Main Street's NBA teams.
For YES and MSG, their teams' fans have been through a few switches already. YES and MSG each launched their own apps in 2023 before combining into the Gotham app in 2024.
MSG's linear networks suffered a temporary blackout in 2025 with cable TV provider Optimum, one of the New York area's cable providers, and YES Network recently came close to a similar situation with Comcast, as CNBC Sport previously reported.
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