Eleven Sports UK reportedly facing financial crisis | OTT | News | Rapid TV News
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Leading media outlets in the UK are reporting that after only four months of operation, upstart streaming sports service Eleven Sports is in danger of closing amid concerns of rising losses and failure to failing to secure rights deals.
elevensports facebook 6August2018
According to the Daily Telegraph,  the firm’s exclusive deal with mixed martial arts competition UFC signed in September is about to be cancelled with the sports federation triggering a kill clause after guarantees on distribution not being met. In addition to showing the content on its own platform, Eleven Sports was meant to have signed content distribution deals with the three leading UK pay-TV operators. Talks with Virgin Media have collapsed already, Sky and BT Sport, the current UFC rights holder, are also said to have not signed up.

Eleven entered the UK market in a blaze of glory kicking out incumbent Sky from its established place as holder of exclusive live rights in the UK and Ireland to all football matches in the premier Spanish football league, LaLiga.

The company also owns UK rights to Italy's Serie A games broadcasting up to 20 live football matches every week. It also broadcast this year’s PGA Golf Championship as part of over 30,000 live hours of global sporting action.

The Daily Telegraph also reported that to deal with the crisis, Eleven Sports was preparing to hand back the broadcast television rights to Serie A's agent IMG and La Liga to allow them to be resold while retaining online streaming rights. It quoted an Eleven Sports spokesman as saying: “Without carriage agreements with the existing platforms, alongside the challenges posed by rampant piracy, the current market dynamics in the UK and Ireland are very hostile for new entrants. We are in discussions with our rights partners, La Liga and IMG, about how we can restructure our existing agreements in order to continue our current OTT service.”