Streamers to Purchase NASCAR’s Xfinity Series; NBC, Fox Set to Finalize Handshake Agreement by 4th

NASCAR is reportedly considering moving the Xfinity Racing Series to a streaming-only service. At least two companies have expressed an interest in securing the second-tier package, while NASCAR is also looking to sell a mid-season package of NASCAR Cup races to streaming companies. Amazon is apparently a strong candidate to take on this streaming package.

Although nothing has been finalized yet, sources suggest NASCAR will sign a new handshake deal for broadcast and streaming deals prior to the July 4th holiday. Currently, NASCAR’s media contracts with FOX and NBC are set to run until the end of next season. The race circuit has been in talks with multiple media and technology companies regarding the rights to broadcast and stream NASCAR content. A new media deal, scheduled to begin in 2025, could lead to the Xfinity Series becoming an all-streaming package.

FOX and NBC are reportedly in advanced contract renewal talks, with Fox retaining the Daytona 500 and Daytona 500 for the first half of the season, while NBC will keep the second half of the season in the NASCAR playoffs. Although Peacock already simulcasts some of NBC’s races, a move to streaming would represent a major shift for NASCAR.

Given the importance of sponsorships to NASCAR teams, televised reach for Cup races is currently a priority for circuit executives. However, NASCAR executives have expressed their willingness to develop a midsummer race package for streaming companies. Though midsummer races normally attract solid TV audiences, the number of people watching television during the summer has dropped significantly. Nevertheless, NASCAR executives believe that a move to streaming during the summer will not reduce viewership as much as the spring or fall races.

By creating new packages and leveraging the deep pockets of streaming companies, NASCAR hopes to exceed the $820 million annual average value of its current media contracts. In recent years, digital rights have proven lucrative for leagues such as the NFL and NHL, leading to a doubling of their royalty income. Amazon reportedly sees NASCAR rights as a way to boost Amazon Prime subscriptions among NASCAR fans.

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