A strong two weeks across sports and entertainment: the NBA and NHL closed out historic first rounds, the Kentucky Derby set an all-time viewership record, the WNBA's Golden State Valkyries became the first women's franchise in any sport valued at $1 billion, and the Michael Jackson biopic delivered the largest musical biopic opening ever.
Live Sports Viewership Reaches Multi-Year Highs
While changes to Nielsen’s measurement methodology may account for part of the reported increases, live sports continued to post strong audience figures across the NBA, NHL, Kentucky Derby, and NFL Draft over the past two weeks.
NBA Playoffs close first round with strongest ratings since 1993
The complete first round of the NBA Playoffs averaged 4 million viewers per game across NBC/Peacock, ESPN/ABC, and Prime Video, up 22% year-over-year and the highest first-round average in 33 years. The round closed with the 76ers-Celtics Game 7 averaging 11 million viewers on NBC and Peacock, the most-watched first-round Game 7 in NBA history and the largest opening-round audience in 27 years, reinforcing the value of deep playoff series in the new multi-platform rights structure.
NHL first round closes with ESPN and TNT each up nearly 70%
ESPN and TNT Sports each averaged 1.2 million viewers per game through the first round, up 69% and 68% respectively and the most-watched opening round for each network since adding NHL rights. The Canadiens-Lightning Game 7 on TNT drew 2.3 million viewers, the most-watched first-round Stanley Cup playoff game ever to air exclusively on cable. The surge follows the NHL's best regular-season average in 14 years and a post-Olympics bump from the U.S.-Canada gold medal game at Milan-Cortina.
Kentucky Derby sets all-time viewership record with 19.6 million on NBC and Peacock
The 152nd Kentucky Derby drew 19.6 million viewers across NBC and Peacock, the most-watched Derby on record and NBC's most-watched Saturday broadcast since the Milan-Cortina Olympics. The figure represents an 11% increase over the prior record and the third consecutive year of viewership growth for the race. Peacock contributed 1.3 million streaming viewers, up 36% year-over-year and nearly double 2024's figure of 714,000, underscoring the growing role of streaming in expanding the reach of marquee live events.
NFL Draft sets Pittsburgh attendance record with 805K across three days
The 2026 NFL Draft in Pittsburgh broke multiple attendance records, drawing 805,000 fans across three days and 320,000 on Day 1, both all-time NFL Draft highs. That strength carried over to viewership, with Day 1 attracting 13.2 million viewers – ranking as the third-most watched first round in Draft history. What is also notable is the breadth of distribution, with fans able to watch across ESPN, ABC, NFL Network, ESPN Deportes, Disney+, Hulu, the ESPN App, NFL+, YouTube, TikTok and X.
Franchise Values in Focus
Franchise valuations continued to set new benchmarks across women's sports, Canadian pro sports, and global soccer, reflecting sustained investor appetite for premium sports assets.
Rogers to sell minority stake in Maple Leafs, Raptors, Blue Jays, and Toronto FC at $18.25B USD valuation
Rogers Communications announced plans to sell a minority stake in its consolidated sports and media assets, including 75% of Maple Leaf Sports & Entertainment (Maple Leafs, Raptors, Toronto FC) and the Toronto Blue Jays, at a valuation greater than CAD $25 billion ($18.25 billion USD), with proceeds earmarked for debt reduction. Sportico values the four franchises at $12.5 billion combined (Raptors $4.66B, Maple Leafs $4.25B, Blue Jays $2.9B, Toronto FC $730M), with Rogers expecting to complete the recapitalization in late 2026 or early 2027.
WNBA: Golden State Valkyries become women's sports' first $1 billion franchise
The Golden State Valkyries are now valued at $1 billion according to CNBC's 2026 WNBA valuations report, making them the first women's sports franchise in any league to reach that threshold. Sportico independently values the Valkyries at $850 million, first in the league for the second straight year. Sportico’s league average of $427 million is 59% higher than the prior year and 71% above the $250 million expansion fee paid by the most recent cohort of new franchises.
Real Madrid tops Sportico's 2026 global soccer list; top 50 clubs worth $95.5B combined
Sportico's annual ranking of the world's 50 most valuable soccer clubs places Real Madrid at $7.7 billion at the top, ahead of Barcelona ($6.65B) and Manchester United ($6.47B), with the combined value of all 50 clubs reaching $95.5 billion and six Premier League sides in the top 10. Valuations reflect broadcast, commercial, and matchday revenues and underscore the sustained revenue expansion of elite European clubs driven by growing UEFA prize pools and global sponsorship demand.
Legacy IP Drives Box Office and Streaming
The Michael Jackson biopic and Universal Music Group's potential Spotify stake sale both highlight the durable value of music IP and its continued monetization across platforms.
'Michael' Opens to $97M Domestic, $217M Global: Biggest Musical Biopic Ever
The Michael Jackson biopic Michael opened to $97 million domestically and $217 million globally, the largest opening in musical biopic history, surpassing Straight Outta Compton's $60 million record from 2015. The film exceeded tracking projections of $70 million despite mixed critical reception, continuing the pattern established by Bohemian Rhapsody and Elvis that legacy music IP can drive strong theatrical demand.
Universal Music Group moves to monetize Spotify equity stake as streaming revenues grow
Universal Music Group announced plans to sell approximately half of its Spotify equity stake, held since helping take the platform public in 2018, with proceeds directed toward artist signings, catalog acquisitions, and technology investments. UMG also reported first-quarter revenue of €2.9 billion ($3.3 billion), up 8.1% in constant currency, while Spotify separately reported Q1 revenue of €4.5 billion (up 8%) and 761 million monthly active users.
And On a Fun Note…
I took my kids to see the Savannah Bananas at Yankee Stadium last weekend, and it’s hard to describe, in the best way possible. Think Harlem Globetrotters meets baseball: part game, part dance party, part spectacle. It was also fun to see Russell Wilson and Yankees legend Tino Martinez stepping up to the plate. Definitely not your typical night at the ballpark!
