WNBA renews media rights deal with Scripps

The WNBA and E.W. Scripps have agreed to a new multi-year media rights deal for Friday night games on Ion, including a new weekly studio show dedicated to the WNBA. Ion's WNBA viewership has grown significantly, with Friday Night Spotlight viewership up 133% year-over-year and over 23 million unique viewers tuning in, prompting Scripps to solidify Ion as the premier Friday night destination for WNBA action. This agreement follows the WNBA's 11-year media rights deal signed last July with Disney, Amazon, and NBCUniversal, valued at approximately $200 million annually.

Analysis

The WNBA and E.W. Scripps (SSP) have announced a new multi-year media rights agreement, extending their partnership for Friday night WNBA game broadcasts on Ion, which will also feature the first weekly studio show dedicated exclusively to WNBA coverage. This development, carrying strongly positive sentiment particularly for SSP, builds upon the WNBA's presence on Ion since 2023 and highlights significant viewership success; WNBA Friday Night Spotlight viewership on Ion surged 133% year-over-year, attracting over 23 million unique viewers. Ion's reach, extending to over 128 million homes, provides a substantial platform for the WNBA, whose popularity is notably increasing. While the financial terms of this new Scripps deal were not disclosed, it replaces an original agreement reportedly valued at an average of $13 million annually, set to expire at the end of 2025. This agreement with Scripps complements the WNBA's larger 11-year media rights deal secured in July with Disney (DIS), Amazon (AMZN), and Comcast-owned NBCUniversal (CMCSA), where the WNBA's portion is valued at approximately $200 million per year. For E.W. Scripps, this enhanced partnership, as affirmed by its CEO, solidifies Ion's position as a key broadcaster for the rapidly growing league, leveraging proven viewership growth and potentially enhancing its financial performance in media. For the WNBA, it signifies expanding reach and visibility, reflecting rising demand for its games as stated by the WNBA Commissioner.

Key Decisions for Investors

• Investors should view this expanded agreement as a positive catalyst for E.W. Scripps (SSP), given the demonstrated 133% year-over-year WNBA viewership growth on Ion, which could boost advertising revenue and platform value.
• The WNBA's demonstrated ability to secure progressively valuable media rights, evidenced by this Scripps agreement and its larger $200 million per year deal with major players like Disney, Amazon, and Comcast, underscores the league's rapidly appreciating commercial appeal, a favorable trend for investors tracking sports media rights.
• It may be prudent to monitor E.W. Scripps' future earnings reports for specific disclosures on the financial impact of the 'WNBA on Ion' programming and overall growth trends in its sports content portfolio.