Technology

Netflix co-CEO yet to see a path to profitability in 'renting big sports'

Ted Sarandos, Chief Content Officer and Co-Chief Executive Officer of Netflix, attends a premiere for the film "The School for Good and Evil" in Los Angeles, California, U.S. October 18, 2022. REUTERS/Mario Anzuoni/File Photo

(Reuters) -Netflix Inc co-Chief Executive Ted Sarandos on Tuesday said he has yet to see a path to profitability in live sports on the streaming service.

Sarandos said the economics of professional sports were built around the economics of television - and buying rights is expensive.

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