The boxing world witnessed a seismic shift on Saturday as the highly anticipated clash between Canelo Álvarez and Terence Crawford streamed exclusively on Netflix. This wasn't just a fight; it marked a pivotal moment, signifying the streaming giant's aggressive foray into a combat sports industry traditionally reliant on the pay-per-view (PPV) model.
For over five decades, PPV has been the cornerstone of boxing's revenue stream. However, Netflix's strategic move to secure the Álvarez-Crawford bout signals a dramatic paradigm change. This isn't Netflix's first foray into boxing; the platform successfully streamed the Jake Paul-Mike Tyson fight last November, attracting a staggering 60 million viewers worldwide and significantly boosting subscriber numbers. This success paved the way for the even bigger Álvarez-Crawford event.
The fundamental difference lies in the revenue model. PPV events demand a significant upfront payment from viewers – typically ranging from $50 to $90 per event – creating a revenue stream that's unpredictable and contingent on the number of buys. In contrast, Netflix's model offers a guaranteed revenue stream through its existing subscriber base, offering a significantly more stable financial outlook, according to media analyst Dan Rayburn. The financial specifics of the Netflix-Álvarez-Crawford deal remain undisclosed, but given other recent streaming rights acquisitions, it's undoubtedly a substantial investment.
This isn't just limited to boxing. The trend of streaming dominance is sweeping across the sports landscape. The recent seven-year, $7.7 billion deal between the UFC and Paramount+, which will bring the biggest UFC fights to Paramount+ starting in 2026, showcases the larger trend. Similar deals involving the NFL and FIFA further illustrate the evolving paradigm shift towards streaming in sports entertainment. The Álvarez-Crawford fight on Netflix is a powerful testament to this new era, marking a potential knockout blow to the long-standing PPV model.
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Originally published at: https://www.axios.com/2025/09/13/alvarez-crawford-netflix-boxing-streaming
