CVC’s Marc Allera: Streaming Boosts Media Rights & Long-Term Sports Investment Outlook

CVC’s Allera Sees Healthy Media Rights Landscape, Backs Long-Term Sports Investments

Latest York – Marc Allera, chair of CVC Capital Partners’ Global Sport Group (GSG), expressed confidence in the enduring health of the sports media rights market, citing the impact of streaming services as a positive force. Allera, who joined CVC last year after a tenure at BT, believes that investments in properties like Ligue 1 soccer and Premiership Rugby are poised to deliver returns despite recent challenges.

GSG, launched in 2025, consolidates over €4.6 billion (US$5.33 billion) worth of CVC’s sporting investments dating back to 2018. The portfolio includes stakes in LaLiga, Ligue 1’s media business, Prem Rugby, the United Rugby Championship (URC), and the Six Nations.

Allera emphasized that the value proposition extends beyond capital injection, with GSG promising portfolio companies access to resources and expertise designed to enhance their overall value. Traditionally, unlocking this value has relied on media rights revenue, but Allera acknowledged the shifting dynamics of the media landscape.

“I’m confident that the media rights landscape, over the long term is still incredibly healthy and arguably even more healthy with global streamers who have recognised the power of sport and appointment viewing coming in [to the market],” Allera stated at SportsPro New York. He highlighted the unique ability of live sport to draw large, engaged audiences in a fragmented media environment and its effectiveness in attracting and retaining subscribers.

Still, Allera too stressed the importance of diversification and leveraging data analytics for future growth. “Sport is the most powerful IP on planet earth,” he said. “It is the only thing that can unite a country in a particular moment or divide a city. It’s the only appointment to view content that anyone will sit and watch at that time, in that moment.”

GSG recently secured €3.7 billion (US$4 billion) in financing, valuing the unit at €7 billion (US$8.02 billion), to fuel future acquisitions. Allera indicated that properties demonstrating the ability to effectively utilize data to unlock new revenue streams – such as digital sponsorship and gaming – would be of particular interest.

“The big challenge in sport is how to drive more value from the IP that you have,” Allera explained. “The media market is changing beyond all recognition… the sponsorship market will be changing significantly. We work with our assets to ensure they really understand the importance of data and analytics and of understanding [their] fans because that’s how you demonstrate value to streamers, sponsors and partners in a crowded media market.”

Long-Term View on Ligue 1 and Prem Rugby

Both the investments in Ligue 1 and Prem Rugby predate Allera’s arrival at GSG, and both have faced headwinds in recent years. Allera characterized these as long-term plays, allowing for a broader perspective beyond short-term gains.

Ligue 1 has experienced volatility in its media rights deals, with initial contracts diminishing before the launch of its domestic streaming service, Ligue 1+. While the service has achieved over one million subscribers in its first season, it generates significantly less revenue than traditional broadcast agreements. DAZN and BeIN Sports contributed €500 million (US$573 million) in 2024/25, but Ligue 1+ is projected to generate only €158 million (US$181.1 million) this season, with BeIN’s weekly game contract worth €98.5 million (US$101 million).

“Where we take a long-term view, we don’t expect results overnight,” Allera said. “Ligue 1+ achieved more than one million subscribers in their first season, which is an incredible achievement, and many leagues are now watching with real interest to witness how that product is performing. Going back to data and analytics and the importance of understanding your fans, I think it’s going to be a really interesting case study in terms of a potential distribution model that can work.”

Premiership Rugby has also faced challenges, including the bankruptcy-related withdrawal of three clubs. Allera acknowledged that the initial investment’s potential was hampered by the unforeseen impact of the COVID-19 pandemic. However, he pointed to strong underlying metrics and the anticipated benefits of a new franchise structure.

The league’s recently secured UK£200 million (US$264.8 million) domestic broadcast deal with TNT Sports represents a “significant uplift” on the previous arrangement. “Prem Rugby had to deal with a pandemic,” Allera explained. “No one could have predicted that so the timing of the investment was unfortunate. Here’s the benefit of taking a long-term perspective and CVC supports management teams for all kinds of situations.”

“What we’re seeing now, in a more stable world, is the product shining through as plans come to fruition. [The Prem] is in a great position. As a league it’s performing brilliantly. Audience figures are up hugely, audiences in the stadium are increasing significantly, and the team Notice doing a fantastic job in improving that product. The fans are recognising that and feeling that.”