Takeaways from Netflix's NFL Christmas ratings door-buster: The streaming giant could be here to stay


Netflix’s NFL debut broke the record for a U.S. streaming audience for an NFL game, as an average of more than 24 million domestic viewers tuned in to the Kansas City Chiefs’ win over the Pittsburgh Steelers and the Baltimore Ravens’ win over the Houston Texans on Christmas Day.

The Ravens-Texans game averaged 24.3 million U.S. viewers, while the Chiefs-Steelers game averaged 24.1 million, according to Nielsen fast nationals data released Thursday. Those games were down from last year’s Christmas Day games, which aired on CBS, Fox and ABC, but surpassed the 23 million average for a streaming-only wild-card playoff game on Peacock last January.

Beyoncé proved to be an even bigger draw. The singer’s halftime show — dubbed “Beyoncé Bowl” — drew 27 million viewers according to Netflix, the highest audience peak during the two games. The production and performance levels gave major “Super Bowl halftime” vibes.

Global ratings will be released on Dec. 31. Viewers from more than 200 countries tuned in at some point to Chiefs-Steelers, Netflix said.

Our takeaways from a first for Netflix and the NFL that won’t be a last:

An NFL — and live sports — distribution superpower

Netflix shattered the record for U.S. streaming audience for a regular-season NFL game by seven million viewers (a mark held for not even three weeks by Amazon Prime Video, which averaged 17.29 million for its Dec. 5 Thursday night thriller between the Detroit Lions and Green Bay Packers.)

To put the 24 million number into context, last year’s NFL Christmas Day games — three games airing on CBS, Fox and ABC — averaged 28 million viewers.

For Netflix to debut within shouting distance of three of the league’s traditional broadcast partners will thrill:

  1. The league, which created a new, deep-pocketed bidder for future TV rights. Netflix paid a reported $150 million per year for these games, along with the rights to air Christmas Day games in 2025 and 2026.
  2. Netflix, which put on a relatively glitch-free game, proved fans will find the games wherever they are broadcast and accelerated its relatively new ad business. (Despite the loss of “most streamed NFL regular-season game ever” status, Amazon should also be happy at any new data points that show NFL fans will watch games via streaming services. Amazon will stream a wild-card game next month.)

In Thursday’s Pulse, The Athletic’s Andrew Marchand gave Netflix a “B” for its coverage, noting, “It’s the NFL and Netflix, so even though there was concern that the duo would struggle with the stream, there is no grading on a curve. Ultimately, it worked, and the picture was pristine.”

Looking ahead to the next few years, 24 million viewers on Netflix or Amazon might be a floor, not a ceiling, as Christmas Day falls on traditional NFL game days of the week, including Thursday in 2025, when both Netflix and Amazon will have games on Christmas Day. Talk about an epic ratings duel.

The NBA can co-exist on Christmas with the NFL

LeBron James had the best quote on Christmas, declaring immediately after the Los Angeles Lakers’ thrilling prime-time win over the Golden State Warriors: “I love the NFL, but Christmas is our day.”

Let’s amend that to “… our day, too.” LeBron versus Steph Curry delivered an average of nearly eight million viewers to lead the day for the NBA, which overall saw an 84 percent increase over last Christmas — and the biggest audience in five years.

Two things can be true at once: The NFL can crush on Christmas, and the NBA can thrive also.

The NBA benefited from matching up its absolute biggest stars, the league’s longtime place on fans’ Christmas viewing schedule and all five games being easily consumed and available on broadcast TV.

The biggest effect of the NBA’s lineup on Christmas Day? The large audience single-handedly changed the ongoing narrative about cratering NBA ratings to something very different: Before Dec. 25, NBA ratings were down 18 percent on the season; after Wednesday’s games, ratings are only down a very reasonable 4 percent.

There still seem to be some issues for the league to address, but the Great NBA TV Ratings Panic of 2024 seems like something to leave behind as the calendar flips to 2025.

To be sure: The NFL on Christmas is here to stay — the NBA can’t say the same about LeBron and Steph long-term, but for this year, the NBA on Christmas was a throwback hit.

The next big ratings watch for Netflix: WWE.

Netflix signed a 10-year, $5 billion deal to bring WWE live events to its platform. That debuts on Jan. 6. As a reference point, “WWE Raw” draws a weekly average of less than 2 million to its broadcast on USA Network.

(Photo: Charles LeClaire / Imagn Images)



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