NFL Broadcasting Stocks Slump As Protests Rise And TV Ratings Fall
Mike Ozanian , Forbes Staff
SEATTLE, WA - SEPTEMBER 17: Center Justin Britt #68 of the Seattle Seahawks, left, and running back Thomas Rawls #34, right, join defensive end Michael Bennett #72 on the bench during the national anthem before the game against the San Francisco 49ers at CenturyLink Field on September 17, 2017 in Seattle, Washington. (Photo by Otto Greule Jr/Getty Images)
During the past month the overall stock market is up more than 2% but shares of companies that broadcast NFL games--Comcast, Walt Disney, Fox, CBS--are all down between 1% to 8%.
The NFL is now a hotbed of protests--a carry over from last year that began when San Francisco 49ers quarterback Colin Kaepernick began
protesting during the National Anthem, to
protests this year by those who feel Kaepernick, who is without a team, is being unfairly treated by by the league, to a
stronger push by some players for an increase in NFL social activism.
Towards the end of last season some felt the NFL's ratings dip
would be temporary and therefore would not ultimately hurt the networks by forcing them to
reimburse advertisers. Instead, the opposite has happened.
Ratings for the the NFL have been
worse this season and
attendance for some games has also been disappointing. The networks will pay over
$5 billion this season to televise the NFL and were already facing unflattering margins on advertising profits. An
article in The Hollywood Reporter reckons the drop in NFL ratings could trim the broadcaster's earnings by $200 million. Disney's ESPN, meanwhile, also continues to
get hammered by cord-cutting.
It's just two weeks into the 2017 NFL season. But the trend is not good for the league and its networks. No one seems happy.