Stan Sport sheds 70,000 subscribers as football rights costs climb
Stan Sport’s subscriber base has fallen by almost 9% from its September 2025 peak, raising questions over the economics of Nine Entertainment’s increasingly expensive football portfolio as fixed sports-rights costs continue to rise.
Stan Sport’s paying subscriber base has fallen to around 730,000 from a peak of approximately 800,000 in September 2025, putting pressure on Nine Entertainment to demonstrate that its heavy investment in premium football can deliver sustainable returns.The decline represents a loss of about 70,000 subscribers, or almost 9%, from the peak reached shortly after Stan added the Premier League to its sports offering.The fall contrasts with Nine’s FY26 results, which showed average Stan Sport subscribers rising almost 50% year-on-year, driven largely by the Premier League. The latest figures suggest momentum has since weakened from the initial launch period.That distinction matters commercially because sports rights represent largely fixed costs. A smaller subscriber base increases the effective content cost per customer unless Nine can compensate through higher prices, stronger advertising revenue or improved retention.Stan Sport costs an additional A$20 per month on top of a standard Stan entertainment subscription, while Nine has also been moving away from discounted arrangements inherited from former Optus Sport customers.The pressure comes as Nine prepares for higher football rights expenditure. Its Premier League agreement has been extended until 2034, with rights fees expected to increase by about 3% annually during the new term.Nine will also lose financial contributions from Optus that previously helped support the cost of the Premier League rights, meaning a larger share of future expenditure will sit directly with Stan.The company nevertheless continues to generate stronger financial results from the streaming business.Stan recorded revenue of A$569m in FY26, up 16%, while EBITDA increased 34% to A$81m. Average revenue per user also rose 8%, helped by higher penetration of Stan Sport and previous price increases.The platform’s football portfolio includes the Premier League, UEFA Champions League, Europa League, Conference League, Women’s Super League and FA Cup, giving Nine one of Australia’s broadest football offerings.The challenge is now converting that extensive rights portfolio into sustained subscriber growth rather than short-term acquisition spikes.With rights costs escalating and the subscriber base below its September peak, Nine’s ability to manage churn and increase revenue per customer will increasingly determine whether Stan Sport’s football strategy delivers the returns needed to justify its long-term commitments.