Facebook recently signed a massive deal with La Liga
Facebook (FB) has gradually been trying to increase the content on its “Facebook Watch” platform. The social media giant landed a colossal deal with Spanish soccer league, La Liga, which features giants like Real Madrid and FC Barcelona, to broadcast live matches in the Indian subcontinent.
On August 14, the company announced that it had signed a three-season deal with La Liga to bring live matches to India, Pakistan, Afghanistan, Bangladesh, Sri Lanka, Bhutan, Nepal, and Maldives. La Liga clubs like Real Madrid and Barcelona have a massive following in the region. This is La Liga’s first broadcast agreement with a social media company.
Facebook Watch represents another avenue for growth
However, this is not the first such deal by a tech company. Amazon (AMZN) has acquired rights to broadcast 20 English Premier League soccer matches next season through Prime.
India represents one of Facebook’s key markets. India has a population of 1.3 billion and is an attractive market for Internet companies given its growing middle class and a young, tech-savvy population. It is the fastest-growing smartphone market.
While the matches are likely to be ad-free on Facebook, Facebook Watch represents another growth avenue in the future for the company. Facebook’s stock declined a whopping 20% recently after it reported slowing user base growth.