Apple debuted a new sports app Wednesday (Feb. 21) — firming its foothold in the lucrative live sports streaming market.
Named Apple Sports, the app allows users to quickly compare teams’ stats and live betting odds. And while it’s the company’s first dedicated sports app, Apple has been signaling it would get into the game.
The company first debuted a dedicated section in Apple News, called My Sports, that allows users to follow stories on their favorite teams in 2022. But Apple made its first big bid for a spot in the live sports market when it announced an exclusive partnership with Major League Baseball in 2022; it’s since expanded to include Major League Soccer games. Apple’s competitors Disney and Amazon have their own deals with other leagues — Amazon has exclusive rights to broadcast the NFL’s Thursday Night Football games, while Peacock has golf (thanks to its parent company NBC’s hold over golf telecasts). Then there’s Disney’s ESPN+, which has a host of its own partnerships with leagues like the National Hockey League, National Football League, and National Basketball Association.
Apple Sports is different from just a statistics platform, though, because it also shows sports betting odds — meaning that Apple is not only tightening its relationship with to live sports streaming, but also the gambling that goes on with the games.
Sports betting is less lucrative than media rights to sports games. The subsector, though, is growing quickly. The US sports betting industry posted a record $11 billion in revenue last year, and experts have forecasted that it could reach a value of $40 billion by 2030. Users can also opt out of viewing sports betting odds in their Apple Sports settings.
The Apple odds
The odds of Apple catching up to rival streaming platforms Amazon and Disney are in the tech giant’s favor. Things would go its way faster if Apple makes its boldest play yet: Outright owning ESPN. The tech giant is reportedly interested in purchasing the sports channel, with other likely contenders being Verizon and Bank of America.
Apple did not respond immediately to Quartz’s request for comment on the deal.
Apple’s entry into live sports, by the numbers
Here’s a look at big numbers defining the game.
💰 $56 billion: Global value of sports media rights
📺 160 million: Number of Americans who watch sports at least once a month
🎰 45%: How much sports betting revenue increased in 2023
🏈 $24 billion: Reported value of ESPN, with Apple being a likely buyer