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Seven West Media (ASX:SWM) secures AFL rights until 2031

ASX News, Media
ASX:SWM      MCAP $315.5M
06 September 2022 17:18 (AEST)

Sam Switkowski celebrates a goal against GWS in round four, 2022. Source: AFL

Seven West Media (SWM) has secured the media rights to broadcast the Australian Football League (AFL) from 2025 to 2031.

Under the renewed contract, Seven will pay a 14 per cent increase on the 2024 rights in 2025 with indexation over the term, representing a 3.6 per cent compound annual growth rate in rights fees across the period.

The company’s 7plus channel will be the AFL’s new home for Seven’s fans and advertisers with a comprehensive package of digital rights secured with the renewal.

Further, the 7plus AFL hub will include live and replay matches as well as catch-up rights and highlights packages on the company’s video on demand service, live and free on any device.

Seven will also continue to broadcast the games on Channel 7 and 7mate.

Managing Director and CEO James Warburton said securing a comprehensive package of digital rights was the company’s “absolute focus”.

“For the first time, fans will be able to access the best AFL games and video content, live and free, in a way that suits them,” Mr Warburton elaborated.

“More importantly, this new combination of broadcast and digital means SWM will be ideally positioned to drive and capture a significant share of the growing total television market.

“Together, the AFL and Seven have made the code the #1 winter sport across the country and we look forward to working with the AFL Commission to extend the sport’s leadership.”

Meanwhile, News Corporation (NWS) announced that Foxtel and Kayo Sports will retain their broadcast rights until 2031.

Though both Seven and Foxtel will broadcast the same number of matches, Foxtel will have exclusive rights to Saturday games for the first eight rounds in Melbourne.

Shares in Seven have ended the day 3.16 per cent in the green to close at 49 cents.

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