The Florida Panthers, the National Hockey League Stanley Cup champions, have made a significant move by signing a new multiyear broadcasting deal with E.W. Scripps. This deal marks a departure from their previous home on cable TV regional sports network and highlights a shift towards local broadcast networks in the sporting world. As more consumers turn to streaming services, professional sports teams are reevaluating their broadcasting options, as seen in the Panthers’ recent decision.
The new agreement with E.W. Scripps will allow the broadcast station owner to televise all locally produced Panthers preseason and regular season games, as well as round one of the playoffs. Additionally, the Panthers are collaborating with Scripps Sports to launch a streaming service, which is expected to be unveiled before the start of the 2024 season. While the terms of the deal were not disclosed, it is clear that the Panthers are looking to expand their reach and cater to a broader audience through this partnership.
Industry Trends and Challenges
The move away from traditional cable TV regional sports networks towards local broadcast stations is becoming a trend in professional sports. The bankruptcy protection of Diamond Sports Group, which owns the Panthers’ previous TV home, Bally Sports Florida, has forced teams to seek new broadcast partners. This industry-wide shift indicates a pivotal moment for sports broadcasting, as networks adapt to the changing preferences of viewers and the financial challenges posed by declining pay TV subscriptions.
While the deals with local broadcast station owners offer increased reach and accessibility for viewers, they may not match the financial magnitude of agreements with regional sports networks. The undisclosed terms of these new deals suggest that teams may not receive the same level of compensation as in the past. The Panthers’ decision to switch to a new TV home reflects a broader trend in professional sports, with teams like the Las Vegas Golden Knights, Phoenix Suns, and Utah Jazz also opting for local broadcast networks.
The Florida Panthers’ move to a new TV home with E.W. Scripps signifies a strategic shift in the world of sports broadcasting. By embracing local broadcast networks and exploring new streaming opportunities, the Panthers are adapting to the evolving media landscape and engaging with a wider audience of viewers. As the industry continues to undergo transformative changes, it will be intriguing to see how other professional sports teams navigate the shifting broadcasting ecosystem and seek out innovative partnerships to enhance their presence in the digital age.