FIFA, the world soccer governing body, is reportedly planning a significant expansion of its direct-to-consumer (DTC) streaming service, FIFA+. The organization aims to raise between US$1 billion and US$2 billion with the support of Swiss banking giant UBS.
Launched in 2022, FIFA+ has been a promising venture for the organization. It offers more than 40,000 live matches annually along with highlights, archive footage and original content. Designed as a global platform for domestic leagues and national associations to stream matches, it aims at increasing exposure while serving viewers in dark markets.
The platform has also been instrumental in broadcasting all competitions from the Oceania Football Confederation (OFC) globally over two years. Moreover, it provided live coverage of the FIFA Club World Cup matches in certain territories.
FIFA looking to sell minority stakes for fundraising
While specifics about what these funds will be used for remain unclear at this point, potential use cases could include technological development or direct rights acquisitions. The formal fundraising process is expected to commence in July with investors from the US and Middle East being targeted primarily.
FIFA is reportedly prepared to offer a minority stake in its streaming platform as part of this fundraising initiative. However both UBS and FIFA have declined comment on these plans so far.
Diversification into NFTs & Online Gaming
In addition to expanding its streaming service through funding efforts, FIFA has also ventured into other DTC projects such as digital collectibles or Non-Fungible Tokens (NFTs), and online gaming which are gaining popularity among sports fans worldwide.
FIFA+ could potentially serve an important role amidst lukewarm interest from broadcasters for events like the expanded Club World Cup. Tech giant Apple has reportedly tabled a US$1 billion bid for the month-long event, which is significantly less than the US$4 billion FIFA is believed to be holding out for.
Furthermore, FIFA+ could also become a platform for streaming the 2023 Women’s World Cup matches if satisfactory rights deals cannot be agreed upon in some European markets. This move would further solidify FIFA+'s position as a key player in sports streaming.
With its ambitious fundraising plans and strategic diversification into NFTs and online gaming, FIFA is poised to make significant strides in expanding its global reach through its DTC streaming service, FIFA+.
