(Bloomberg) -- Deutsche Telekom AG snapped up the rights to broadcast the Euro 2024 soccer championship in Germany, making a bold bet that exclusive sports content will draw more subscribers to its TV products.
Deutsche Telekom will show all 51 games of the UEFA tournament that's played in cities including Berlin and Munich via its TV and streaming platforms, the phone company said in a statement Wednesday. It didn't say how much it paid for the rights.
The move is aimed at strengthening the phone company's MagentaTV service, which has about 3.5 million customers. In the past, its exclusive sports content has included less popular competitions including German top-flight basketball and third-tier soccer. The Euro tournaments are in a different league -- viewership can rival World Cup soccer and top Champions League matches.
Deutsche Telekom is displacing Germany's public broadcasters ARD and ZDF, which have traditionally broadcast the tournament that's held every four years. ARD and ZDF will air next year's installment, and there's still hope for them to get games in 2024 as Deutsche Telekom said it may sub-license some content.
To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net
To contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Jennifer Ryan, Anne Pollak
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