• Loading stock data...
Monday December 23, 2024

Apple Hits $83B in Revenue, Eyes NFL Rights

  • Apple’s fiscal third quarter revenue rose 1.9% to $83 billion.
  • The company has been targeting high-value sports rights to bolster Apple TV+.
Apple-TV
Shutterstock

Apple notched a record June quarter as it looks to make Apple TV+ an essential property for sports fans.

The $2.6 trillion market cap company brought in $83 billion in fiscal third quarter revenue, up 1.9% year-over-year. The growth was driven by a 10.8% rise to $19.6 billion in the company’s services sector, which includes Apple TV+, Apple Arcade, and Apple Fitness+.

  • CEO Tim Cook touted Apple’s rights deal for Friday Night Baseball in a call following the earnings release, saying it’s “already delighting baseball fans.” Apple has sought to integrate innovations such as predictive stats into its MLB broadcasts.
  • In June, Apple inked a 10-year, $2.5 billion streaming deal with MLS, “giving global soccer fans a whole new way of enjoying their favorite sport,” per Cook.
  • The MLS deal, which starts next year, avoids any blackouts or restrictions.

The company’s stock rose around 3.2% after market.

Big-Ticket Item

After taking a back seat on sports rights for years, Apple has been moving quickly to carve out its space in sports media. 

The biggest domino will fall in the coming months: The NFL is taking bids for NFL Sunday Ticket, which it intends to sell to a streaming service. Google and Amazon are reportedly jockeying with Apple for the out-of-market game package.

A report from April said that Apple may already have a deal in place for Sunday Ticket that could also see the company take a 49% stake in NFL Media.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Commanders Sale Could Hit $7B, Durant Wants In

A Washington Commanders sale could be wrapped up by the spring.
MLS
Sponsored

MLS’ Chris Schlosser on Pioneering the Digital-First Sports League with AI

Sports Content Kings MLS’ Chris Schlosser on Pioneering the Digital-First Sports League…
Dan Snyder

Investigations Won’t Likely Hinder a Speedy Commanders Sale

Dan Snyder expected to move quickly to sell all of the franchise.

How the Astros Won the World Series Without Breaking the Bank

The Astros won the World Series with underpriced talent.
podcast thumbnail mobile
Front Office Sports Today

Are Legacy Games Hurting NFL Thanksgiving?

0:00
0:00

Featured Today

ESPN College GameDay Means More to Schools Than a Saturday Morning Spotlight

Schools reap ‘immeasurable’ benefits when the ESPN bus rolls into town.
kyrie-irving-nike
November 4, 2022

Nike Suspends Relationship With Kyrie Irving Over Antisemitism

After several days of silence, the brand has dropped Irving.
Washington-Commanders
November 4, 2022

Bezos, Jay-Z Reportedly Teaming Up on Commanders Bid

Jeff Bezos and Jay-Z are frontrunners to be the next NFL owners.
Jeff-Bezos
November 4, 2022

The Next Washington Commanders Owner May Not Be The Highest Bidder

Bezos could be the strongest candidate, but money isn’t the only factor.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world with Jobbio.
Sr. Account Manager
Miami Heat
Miami, FL
Director of Ads
Nike
Portland, OR – Hybrid
Sports Journalist
CBS Sports
New York City, NY
FuboTV

FuboTV’s Revenue and Losses Increase Over 40%

FuboTV saw major growth in revenue but a comparable increase in losses.
exclusive
November 4, 2022

DraftKings Reports $502M in Revenue, Projects Heavy Losses

DraftKings is still on the road to profitability.
Liberty-Media
November 4, 2022

F1, Braves Power Liberty Media’s Q3

Liberty Media reported revenue increases across F1, Braves Group, and SiriusXM.
Under-Armour
November 3, 2022

Under Armour Rebounds With $1.57B Quarter

Under Armour generated $1.57 billion in revenue in fiscal Q2 2023.
WWE-Wrestling-Ring
November 3, 2022

WWE Reports Record Third Quarter Under New Leadership

WWE slipped a chokehold of controversy to score record results in Q3.
Peloton-instructor-screen
November 3, 2022

Peloton Skids Again, Misses Mark in Q1

Peloton continues on a downward spiral with its latest earnings report.
Paramount-nfl-broadcasters-in-studio
November 2, 2022

Paramount+ Reports 46M Subscribers Behind Live Sports

Paramount+ has emerged as the fastest-growing streaming service in America.
Fox-Sports-Camera-MLB-Game
November 1, 2022

Fox Leaning Into Sports to Combat Lower Ratings

Fox beat revenue expectations with help from MLB and the midterm elections.