Spain: Telefonica extends its European Cup TV rights for 2024-2027 (€320m, -1.5%)

Telefonica, a Spanish telecommunications operator, has extended its exclusive full broadcasting rights to the Champions League, Europa League and Europa Conference League in Spain for its pay-TV subsidiary Movistar for the 2024-2027 cycle, announced the CNMV (National Securities Market Commission, the Spanish public agency responsible for ensuring market transparency and investor protection) on 01/08/2023. These rights were acquired from UEFA via the Swiss agency TEAM Marketing.

Telefonica will pay a total of €960m, or €320m per year over the 2024-2027 cycle. The value of European Cup TV rights in Spain is therefore down by 1.5%, since the operator currently pays €325m per season for these rights over the 2021-2024 period, for a total of €975m. Telefonica had previously acquired the broadcasting rights to the Champions League and Europa League from the Spanish audiovisual group Mediapro, over the 2018-2021 cycle, for an estimated €360m per season, on 28/06/2018.

"This award is subject to the formalisation of a contract with UEFA, which is expected to be finalised shortly, and will…