BT Group (LON:BT.A) has secured a further 20 football matches per season in the latest Premier League rights auction, the blue-chip telco has said. The latest auction, however, also saw e-commerce giant Amazon strike a deal to livestream exclusive coverage of 20 matches a season online, challenging BT and Sky’s (LON:SKY) dominance.
BT’s share price has fallen into the red in today’s session, having given up 1.22 percent to 202.65p as of 14:36 BST, underperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.11 percent higher at 7,721.06 points. The telco’s shares have lost more than a third of their value over the past year, as compared with a 3.4-percent gain in the Footsie.
BT secures Premier League matches
BT announced in a statement today that it had won the rights to a further 20 Premier League football matches in the UK, taking the total to 52, for three years from the start of the 2019/20 season. The additional games will cost £90 million, taking the total cost for 52 games to £975 million over three years.
“We’re delighted to be able to offer our customers even more Premier League matches and to create exciting mid-week nights of top flight Premier League football action,” Andy Haworth, managing director for content and strategy for BT’s Consumer division, commented in the statement.
Today’s news comes after earlier this year, BT and rival Sky snapped up the rights to the majority of live games for £4.46 billion.
Analysts on former telecoms monopoly
Deutsche Bank reiterated its ‘hold’ rating on BT yesterday, without specifying a price target on the shares. According to MarketBeat, the former telecoms monopoly currently has a consensus ‘hold’ rating and an average price target of 293.71p.