Netflix (NFLX) entered the NFL live-streaming arena with a spectacular debut on Christmas Day, setting a new streaming record for the league. Preliminary Nielsen data shows an average U.S. audience of more than 24 million for each of the two holiday matchups.  

The Kansas City Chiefs’s win over the Pittsburgh Steelers pulled in 24.1 million viewers on average, while 24.3 million tuned in to see the Baltimore Ravens defeat the Houston Texans. Adding to the excitement, the Ravens-Texans game featured a show-stopping halftime performance by Beyoncé alongside her daughter, Blue Ivy.  

While Netflix was the primary platform for viewers, some tuned in through local broadcasts in team markets or via the NFL’s NFL+ streaming service. The event surpassed the previous NFL streaming record of 23 million viewers for a January playoff game on Peacock.  

Smooth steaming and big wins for Netflix  

The success of Netflix’s NFL debut wasn’t just about the numbers. The stream was free of major technical glitches, a marked improvement over issues faced during last month’s Jake Paul-Mike Tyson boxing event on the platform.  

“Bringing our members this record-breaking day of two NFL games was the best Christmas gift we could have delivered,” said Bela Bajaria, Netflix’s chief content officer. 

NFL executives were equally enthusiastic. “The quality of the stream was fabulous, the production went off tightly,” said Brian Rolapp, the league’s chief media and business officer. “This further convinces us that Christmas is a great football day.”  

Expanding horizons in live-event streaming  

Netflix’s NFL deal is part of the streaming giant’s broader push into live events to bolster its advertising revenue. The league’s agreement with Netflix spans three years and allows for one or two games to be streamed next Christmas, depending on the schedule.  

The move into live sports streaming is just the beginning for Netflix. In January, the platform will start live-streaming WWE Raw as part of a decade-long partnership with World Wrestling Entertainment.  

Netflix has had a strong year, with its stock up 91% year-to-date, positioning it for its best performance since 2015. This growth reflects increased revenue and profit, with projections indicating a $39 billion in 2024 revenue and $8.7 billion in net profit, up 15% and 60% respectively from 2023. The company’s expansion into live sports, such as NFL games and the FIFA Women’s World Cup, has contributed to its solid performance, making it one of the top-performing stocks on the S&P 500.