Formula One motor racing is among sports streamed by Spark. Photo: PHOTOSPORT
Spark could be about to find a lifeline for its money-losing sports streaming service.
It has confirmed it is in discussions with TVNZ about a potential content partnership deal for the majority of the sports it broadcasts.
"Discussions are ongoing and incomplete, and Spark will keep the market updated," it said in a brief statement to the NZX.
In August, Spark said it was chasing deals that would boost returns for the three-year service, the financial performance of which has never been disclosed.
The service started in 2019 after it had captured the rights to the Rugby World Cup, English Premier League football matches, the Black Caps and White Ferns cricket matches in New Zealand, and Formula One motor racing among other sports from Sky Television.
It has from time to time partnered with TVNZ on free-to-air broadcasting of some matches.
However, over the past year Sky TV has mounted a counter offensive by holding on to the rights for the Super Rugby competition and recapturing the Premier League and major international rugby competitions, including the Rugby World Cup.
Investment analysts have questioned why Spark has retained the sports streaming service given the likelihood its cost is well ahead of its revenue, and Spark's reluctance to match Sky TV's offers.
