The Florida Panthers, the National Hockey League Stanley Cup champions, have recently made a significant move by signing a multiyear deal with E.W. Scripps to broadcast their regular season games on local broadcast networks in Florida. This decision marks a departure from their previous cable TV regional sports network home. The new partnership with Scripps will include the broadcasting of all locally produced Panthers preseason and regular season games, as well as round one of the playoffs.
In addition to the broadcast deal, the Panthers are also collaborating with Scripps Sports to launch a streaming service. While specific details are yet to be revealed, it is expected that further information will be released before the start of the 2024 season. This move towards a streaming service aligns with the trend of consumers shifting away from traditional pay TV bundles in favor of streaming platforms.
The decision by the Panthers to partner with a local broadcast station owner instead of a regional sports network reflects a broader industry shift. The regional sports network business model has faced challenges due to the changing media landscape, with more consumers opting for streaming services. The bankruptcy protection status of Diamond Sports Group, the owner of the Panthers’ previous TV home, Bally Sports Florida, has contributed to this shift.
The Panthers’ transition to a local broadcast network is part of a larger trend in professional sports, where teams are increasingly opting for deals with broadcast station owners. While these deals offer greater reach and accessibility to viewers, they may not command the same financial value as agreements with regional sports networks. The evolving media landscape has prompted a reevaluation of broadcasting partnerships within the sports industry.
As the industry continues to adapt to new consumer habits and technological advancements, there may be more opportunities for professional sports teams to explore partnerships with broadcast station owners. The uncertainty surrounding Diamond Sports’ reorganization plan and future operations has created a window for alternative broadcasting arrangements. The upcoming months will be critical in determining the course of action for both the sports industry and media broadcasting landscape.
The Florida Panthers’ decision to switch to a new TV home with a local broadcast network signifies a shift in the traditional sports broadcasting model. As the industry navigates through challenges posed by changing consumer preferences and media trends, partnerships with broadcast station owners offer potential avenues for professional sports teams to reach a wider audience. The evolution of broadcasting agreements reflects a broader transformation within the sports and media industries, highlighting the need for adaptability and innovation in securing reliable and sustainable broadcasting platforms.