Beyond the platform: The transformation of direct-to-consumer sports strategies

‘What is our direct-to-consumer strategy?’ – a common refrain from senior sports executives worldwide, and an increasingly important component of future revenue projections for leading sports properties.

The 2024/25 season marked the first time that a top European football league commercialised its domestic media rights predominantly through a direct-to-consumer (D2C) model. Whilst the launch of Ligue 1+ was a reaction to the outcome of back-to-back in-cycle contract terminations for LFP, it has become one of the most important commercial case studies in modern football. Other premium rightsholders will undoubtedly be paying close attention to its performance as they continue to evolve their own D2C media distribution strategies.

A new era for rightsholders

The increasing prominence of D2C models marks a new commercial evolution for sports rightsholders. Originally, these organisations primarily functioned as game administrators, ensuring events ran on time and on budget. Their focus then turned towards revenue maximisation, through monetising broadcast and sponsorship assets to propel sport into the professional era.

This current shift marks a third phase, characterised by a need to drive growth through a direct relationship with sports fans. As traditional centralised revenue models have shown signs of stagnation in recent years, it has become important for rightsholders to directly serve and commercialise their customer base through new channels and touchpoints. Just as football clubs compete fiercely on the pitch, off the pitch they, and indeed all sports rightsholders, are locked in a battle for audiences’ attention in an attempt to maximise income through all available channels.

Rightsholders have kept close watch of the ongoing consolidation within the traditional media landscape, recognising the potential risk of diminishing competition among broadcasters for their content. This trend has spurred them to explore different levers to mitigate this and unlock new growth sectors. Their response has been multi-faceted, including investing in non-traditional content formats, bringing broadcast media capabilities in-house and developing their own digital offerings.

The move towards in-house content production and distribution is potentially the most transformative. While it demands substantial upfront investment and places a significant organisational burden on rightsholders, the conceptual upside is appealing.

By developing their own media capabilities, rightsholders can create a viable alternative to traditional broadcasters, gain greater control over their content production, and unlock new commercial opportunities. The direct engagement offered by a D2C approach allows rightsholders to cultivate deeper relationships with their fans, gather invaluable first-party data, and better personalise content and experiences.

Platform or strategy?

In public discourse, the concept of D2C has garnered significant attention, however, the allure could lead to a critical misjudgement: the perception that developing a D2C streaming platform is the same as a D2C strategy. Rightsholders run the risk of embarking on product builds without sufficient prior thought about clear objectives, a robust strategy, or a realistic return on investment.

This approach often overlooks the implications of operating a D2C streaming platform. It fundamentally changes the rightsholder’s business model, transforming them into a media business; a complex undertaking that established media companies have refined over many years of experience. These organisations have meticulously developed sophisticated business models, content strategies, marketing approaches, technology stacks, business practices, and monetisation models. Without an appreciation for this complexity and the extensive capabilities required to run a successful media operation, a D2C platform can quickly become an expensive and underperforming asset.

The journey for rightsholders to become successful media companies requires a holistic and integrated approach - combining elements of strategy, media rights expertise and organisational transformation.

With this in mind, D2C endeavours benefit from a lower-risk environment, allowing rightsholders to test and learn without jeopardising key revenue streams. The Premier League’s launch of Premier League+ in Singapore will allow them to test marketing, pricing and operating strategies in a market characterised by advanced digital infrastructure, robust high-speed internet coverage and high interest in the league.

Football stakeholders can take learnings from other sports, for example the growth of F1TV, which was launched in 2018 to grow key under-monetised markets and engage fans in new and more personalised ways. Formula One Digital Media Limited (the MediaCo under which F1TV sits) has increased its revenues 10-fold in the past six years, monetising through subscriptions, licensing and digital advertising to build a $200m+ D2C business that coexists with third-party broadcast sales.

Successful organisations have built a well rounded strategy in parallel with pulling other levers such as embracing new streaming players and localising their approach in international markets, and have adopted a patient approach to building a D2C platform. The complexity and scale involved in such initiatives often necessitates the creation of separate business units to manage the media business effectively, ensuring dedicated resources, clear accountability, and the agility required to operate in a fast-paced media environment.

Making the decisions that matter

An effective D2C media strategy can be developed through the lens of a strategic choice cascade framework:

The requirements of a leading sports organisation have fundamentally changed in a single generation. The most successful entities will be those that recognise this shift, redefine their purpose in this expanded ecosystem, and build adaptive revenue generation strategies. Whether that be media, sponsorship or e-commerce, these strategies must leverage technology where needed, but always with a clear rationale.

The evolution of premium sports rightsholders into media powerhouses is not a passing trend but a fundamental recalibration of their role in the wider media and entertainment industry. All sports properties, from premium to niche, must recognise this transformation and develop their own bespoke strategy, rather than attempt to mimic competitors or traditional media businesses. Done successfully, these organisations can then unlock a next phase of engagement, revenue growth, and long-term sustainability.

This article originally appeared in the 2026 Annual Review of Football Finance.