June 21, 2024

UEFA EURO 2024 - could it be a blockbuster for streaming platforms?

Szymon Karbowski
UEFA EURO 2024 - could it be a blockbuster for streaming platforms?

Germany is currently hosting EURO 2024 after being selected to host the 17th edition of the UEFA European Championship at the UEFA Executive Committee meeting in Lyon on 27 September 2018. West Germany hosted the 1988 edition, but this is the first time since reunification that Germany has hosted the UEFA European Championship. Football, known as soccer in the USA, is the biggest and most important event in Europe. It has captured the attention of sports fans since its inception.

The final tournament of UEFA EURO 2024 will run for a whole month, from the 14th of June to the 14th of July 2024. The group stage will run until 26 June, with the knockout phase starting on 29 June. The format will be the same as for UEFA EURO 2020. The top two teams in each of the six final groups will advance to the Round of 16, along with the four best third-placed teams. The final will be played at the Olympiastadion Berlin on Sunday 14 July 2024.

The venues are as follows
Berlin: Olympiastadion Berlin (current capacity: 71,000)
Cologne: Stadion Köln (43,000)
Dortmund: BVB Stadion Dortmund (62,000)
Düsseldorf: Düsseldorf Arena (47,000)
Frankfurt: Frankfurt Arena (47,000)
Gelsenkirchen: Arena AufSchalke (50,000)
Hamburg: Volksparkstadion Hamburg (49,000)
Leipzig: Stadion Leipzig (40,000)
Munich: Munich Football Arena (66,000)
Stuttgart: Stuttgart Arena (51,000)

The official song of the tournament is "FIRE", created by Italian producers Meduza, American pop-rock pioneers OneRepublic and German singer-songwriter Leony. It has been released on all streaming platforms. 

UEFA eEURO 2024 kicked off with online qualifying in March 2024 and will conclude with the final in Germany this summer. EA SPORTS FC™ 24 is the official platform for UEFA's eEURO. TV broadcast in 48 European countries and 180 countries and territories in the rest of the world. Fans can also watch the matches on several streaming platforms including: Servus TV, RaiPlay, BBC iPlayer, RTE Player, ITVX, FuboTV, SlingTV, Hulu+LiveTV, DirecTV Stream and others.

EURO 2020, held in 2021 due to the coronavirus (COVID-19) pandemic, generated almost €521 million in commercial revenue, a slight increase on the previous tournament. Overall, EURO 2020 generated more than €1.88 billion in revenue, with broadcasting rights alone contributing more than €1.1 billion. The second largest source of revenue was commercial rights, which amounted to €520.8 million.

Broadcasting rights are UEFA's largest revenue stream, with broadcasters collectively paying billions for the rights to competitions such as the Champions League and European Championship. In 2022/23, UEFA's revenue from broadcasting rights was almost €3.6 billion, an increase of around five per cent on the previous season.

UEFA's total revenue has grown steadily since 2005/06 and will reach over €4.3 billion in 2022/23. There are significant peaks in the years in which the European Championship takes place, with EURO 2020 helping UEFA to generate revenues of over €5.7 billion in 2020/21.

Football has around 4 billion fans around the world, that's a huge number. That means money. At the moment, TV broadcasters clearly have a big advantage. Streaming platforms are just getting a tiny slice of that cake. Is there a way to get more? How to convince viewers to choose platforms instead of TV channels? The answers to these questions are very interesting. 

Also, could sporting events like the Euro bring new customers to the streaming market? Watching UEFA matches on streaming platforms can offer something that TV channels simply cannot. Watching matches when we have time, checking out other matches that are being played at the same time and much more. I think it's a great opportunity for the streaming market, hopefully it will be noticed and taken advantage of.

#SzymonKarbowski #StreamVX #videostreaming #EURO2024 #UEFA #ChampionsLeague #EuropeanChampionship #BBCiPlayer #HuluLiveTV #DirecTVStream

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