NBC Sports Secures Future of Preakness Stakes Amid Competitive Bidding
NBC Sports Secures Future of Preakness Stakes Amid Competitive Bidding
NBC Sports has successfully fended off competition from major streaming and broadcast rivals to retain the media rights to the Preakness Stakes. According to reports, the network won a hard-fought battle for the second leg of horse racing’s Triple Crown against contenders that reportedly included Fox Sports, Netflix, and Amazon. While the specific duration of the new agreement has not yet been disclosed, an official announcement is expected during a press conference in Annapolis featuring Maryland Governor Wes Moore.
Viewership for the event remains a strong draw for broadcasters. The Preakness averaged 5.5 million viewers across NBC and Peacock this past May, marking the largest audience for the race since 2021. This figure represents a 22% increase compared to the 4.9 million viewers recorded in 2025. NBC has been the home of the Preakness since 2001 and continues to hold rights to the Kentucky Derby through 2032. Fox currently holds the media rights to the Belmont Stakes.
The media rights landscape for live sports continues to be a key area of focus for major broadcasters. Comcast Corporation, the parent company of NBC Sports, saw its stock trade up 1.55% today, sitting at a price of $24.93. The company has a market capitalization of approximately $87.15 billion.
In the broader racing sector, rights holders and venue operators are adjusting to shifting distribution models. Churchill Downs Incorporated, which operates the Kentucky Derby venue and various wagering platforms, is currently trading at $85.35, an increase of 2.25% from its previous close, with a market cap of $5.76 billion. Meanwhile, Fox Corporation, which broadcasts the Belmont Stakes, is up 0.65% today with a market cap of $24.44 billion.
What to watch
- Official details regarding the length and financial terms of the new Preakness contract.
- NBC’s strategy for distributing the race across its linear and streaming platforms.
- Future bidding for other major Triple Crown rights as existing contracts approach expiration.
Source: original release