A couple of months ago, reports indicated that as the NFL prepares to renegotiate its full-season TV packages, the league could carve out smaller game slates for platforms like Netflix, Amazon, and YouTube. While there is still no formal clarity on the broader renegotiation timeline, that concept is now gaining traction.

According to Mike Florio of Pro Football Talk, the league is exploring a specific five-game package for the 2026 season. Early indications suggest that YouTube, Netflix, and Fox Corporation are expected to be among the bidders for this mini-slate.

The structure of the offering is also notable. Florio reported that the NFL has presented a broader menu of potential games, allowing bidders to select five matchups rather than assigning a fixed package. As of now, the exact games included in that pool have not been finalized.

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But these can include a Week 1 game in Australia, which would mark the league’s first international game in that market, along with a Thanksgiving eve matchup, a second Black Friday game, and a Christmas Eve game.

From a competitive standpoint, Fox’s involvement stands out. The company is reportedly competing directly with streaming platforms for the rights. Its interest aligns with ownership ties to Rupert Murdoch, an Australian native, which adds strategic value to a potential Week 1 game in Australia.

This development comes at a critical moment for the league’s media strategy. The NFL currently generates over $10 billion annually from its broadcasting agreements, which include partners like Fox and Netflix. However, projections suggest that the next cycle of deals could significantly increase that figure.

Matthew Belloni of Puck reported that future rights agreements could reach approximately $15.9 billion annually. That would represent roughly a 58 percent increase, or about $6 billion more than the current structure.

“And right on cue, MoffettNathanson is out with a new report predicting the average annual value of NFL rights deals will rise to $15.9 billion after renegotiations—including the carve-outs of additional smaller packages, likely to sell to Netflix or YouTube,” Belloni wrote. “That’s 58 percent higher than the current deals, and here’s the key line.”

The current media deals run through 2033. However, the opt-out clauses after the 2029 season allow the NFL to begin renegotiations earlier.

The only complication for the NFL, however, is that the federal government has begun examining whether the league’s approach to selling broadcast rights could negatively impact consumers. That adds a layer of complexity as the NFL balances expansion of media revenue with regulatory scrutiny.

The Department of Justice has begun an investigation into the NFL’s projected broadcasting deal

The federal government, particularly the U.S. Department of Justice, has initiated an investigation into whether the league’s distribution model is harming consumers. That scrutiny has intensified following concerns raised by lawmakers and fans about the increasing number of games placed behind subscription-based streaming platforms, which raises overall viewing costs.

From a legal standpoint, the NFL operates within established frameworks. Under the Sports Broadcasting Act of 1961, the league is permitted to bundle broadcast rights and sell them collectively to maximize reach. Courts have also clarified that the law does not extend to newer platforms such as cable, satellite, or streaming services.

The league’s position remains consistent. It argues that its model prioritizes accessibility, noting that a majority of games are still available on free television within local markets.

“The NFL’s media distribution model is the most fan and broadcaster-friendly in the entire sports and entertainment industry. With over 87% of our games on free, broadcast television, including 100% of games in the markets of the competing teams, the NFL has for decades put our fans front and center in how we distribute our content. The 2025 season was our most viewed since 1989 and reflects the strength of the NFL distribution model and its wide availability to all fans.”

Even so, the broader landscape tells a more layered story. Accessing the full NFL schedule now requires multiple subscriptions. Monday Night Football airs on ESPN. Thursday Night Football and the Black Friday game are on Prime Video. And Christmas games are on Netflix.

In addition, select international games are carried on NFL Network, which has since been acquired by ESPN, while certain matchups have also appeared on ESPN+ and Peacock.

This fragmented access model prompted Mike Lee, chair of the Senate Judiciary Committee’s Subcommittee on Antitrust, Competition Policy, and Consumer Rights, to formally raise concerns. On March 3, he sent a letter to the Justice Department and the Federal Trade Commission requesting a review of whether the league’s practices align with the intent of the law.

His argument centers on cost. Fans may spend close to $1,000 annually across cable and streaming services. Meanwhile, Forbes estimated the cost of accessing every NFL game via streaming last season at $765.

In practical terms, the investigation will examine whether the league is stretching the scope of the Sports Broadcasting Act. At the same time, that scrutiny has not slowed the NFL’s broader media strategy. The league continues exploring new distribution models, including the potential sale of a five-game mini-slate.