Telefónica has announced that it has been provisionally awarded exclusive rights to broadcast five La Liga matches per matchday for the 2025‑26 season, a total of 190 games across its digital platforms, including the flagship Movistar+ streaming service. The provisional award confirms the company’s ongoing multi‑year partnership with the Spanish football federation and the Royal Spanish Football Federation, which will be finalized after approval by the Spanish Sports Council.
The rights are part of Telefónica’s €1.29 billion package that covers the 2024‑25, 2025‑26 and 2026‑27 seasons, with €520 million allocated to each of the 2025‑26 and 2026‑27 seasons. The provisional award therefore solidifies the company’s position in the current cycle and sets the stage for the next five‑year deal that will see Telefónica and DAZN share all fixtures evenly, eliminating exclusive matchdays for either party.
Strategically, the deal is designed to deepen subscriber engagement on Movistar+ by offering high‑profile live sports content that drives both new sign‑ups and retention. La Liga’s popularity in Spain and across Latin America aligns with Telefónica’s focus on premium content to offset the decline in traditional broadband revenue, while the rights complement the company’s €1.46 billion UEFA package that extends through 2031.
In Q3 2025 Telefónica reported €8,958 million in revenue, up 0.4% organically, and €3,071 million in EBITDA, up 1.2% organically. Net income from continuing operations rose to €271 million, a sharp rebound from the €10 million loss in Q3 2024, driven largely by the growth of its media and entertainment segment and the incremental contribution of the La Liga rights to subscriber‑driven revenue. The rights package is a key component of the company’s media strategy, which has already generated significant incremental revenue and positioned Telefónica as a leading sports broadcaster in Spain.
The competitive landscape for the 2025‑26 rights was intense, with DAZN and other bidders vying for a share of the market. Telefónica’s partnership with DAZN for the 2027‑32 cycle, valued at €5.25 billion, will see all fixtures split evenly, a shift from the current model that gives Movistar+ exclusive rights to three full matchdays per season. This change is expected to increase competition for viewership but also broaden the overall audience reach for both broadcasters.
The final approval of the provisional rights will be granted by the Spanish Sports Council and the Royal Spanish Football Federation. Once approved, Telefónica will be able to begin broadcasting the matches immediately, further strengthening its content library and supporting its long‑term growth objectives in the Spanish and Latin American markets.
Analysts note that the rights deal is a significant milestone for Telefónica’s media portfolio, reinforcing its position as a leading sports broadcaster and supporting its strategy to grow Movistar+ subscriptions in a highly competitive market.
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