NBC Will Have to Fend Off Fox, Streamers, to Retain Preakness

Key Takeaways

• NBC seeks to retain Preakness rights amid Fox, Amazon, Netflix interest
• Potential schedule shift moves Preakness to fourth Saturday in May
• Fox aims to pair Preakness with Belmont if it wins both
• Netflix eyes Preakness as a standalone 'event' for its strategy
• Both NBC and Prime Video could align Preakness with NBA playoff coverage

Pulse Analysis

The Preakness Stakes has been a staple of NBC's sports portfolio since 2001, anchoring the network’s Triple Crown coverage alongside the Kentucky Derby. Over the past two decades, NBC’s continuity helped cement the race’s national visibility, even as the Belmont shifted hands to Fox in 2023. Now, with the current contract ending, NBC must defend its position against Fox, which already controls the Belmont, and streaming giants Amazon and Netflix, each eager to test the waters of live horse‑racing. Retaining the rights would reinforce NBC’s legacy and safeguard its advertising ecosystem tied to one of America’s most historic sporting events.

A proposed calendar adjustment—moving the Preakness to the fourth Saturday in May—could align the race more closely with the NBA playoffs, a period where both NBC and Amazon Prime Video already have a strong presence. This timing synergy offers cross‑promotional opportunities, potentially boosting viewership for both the horse race and concurrent basketball games. However, the shift also risks audience fragmentation if fans must choose between high‑stakes NBA action and the Preakness, making strategic scheduling and integrated marketing essential for any rights holder.

The interest from Amazon and Netflix signals a broader industry trend: streaming platforms are no longer content with occasional highlights; they are pursuing marquee live events to attract and retain subscribers. Netflix’s “event” strategy and Amazon’s willingness to acquire standalone broadcasts, as demonstrated with last year’s golf Skins game, suggest they view the Preakness as a gateway to deeper sports portfolios. If a streamer wins the rights, it could accelerate the migration of premium sports from traditional TV to over‑the‑top services, reshaping advertising models and audience measurement. Conversely, a renewed NBC deal would underscore the resilience of broadcast networks in an increasingly digital landscape.