Pittsburgh Pirates, Penguins launch streaming service for local games | CNBC
SportsNet Pittsburgh, the broadcaster for Pittsburgh’s MLB and NHL teams, has just launched SNP 360, a direct-to-consumer streaming service tailored for fans cutting the cord on traditional pay-TV bundles. For $17.99 a month, viewers can catch Pirates and Penguins games outside of the cable package. This move aligns with the industry trend as more networks adapt to the growing demand for streaming services.
The shift to streaming also reflects changes in ownership. The Pirates and Penguins took control after Warner Bros. Discovery stepped away from regional sports networks. This transition also involves Fenway Sports Group, known for owning the Boston Red Sox, which acquired a stake in the Penguins in 2021. These changes highlight the evolving landscape of sports media ownership.
NESN and SportsNet Pittsburgh CEO Sean McGrail emphasized the importance of reaching fans wherever they are. SNP 360 aims to engage viewers who prefer non-linear TV options, offering them flexibility and access to their favorite teams. This strategy echoes similar initiatives by networks like NESN, which launched its streaming service in 2022.
While regional sports networks face challenges amid the streaming revolution, they see streaming as an opportunity to reconnect with audiences. Balancing pricing strategies is crucial to avoid disrupting existing distributor contracts while adapting to changing viewer preferences. Despite the challenges, McGrail remains optimistic, viewing this as a chance to innovate and better serve fans………..
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Rising Dough
How do regional sports networks navigate the delicate balance between adapting to the streaming era and honoring existing contracts with pay-TV distributors?
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