Live sports continue to be a major draw for streaming platforms, as highlighted in Antenna’s Q4 2025 “State of Subscriptions” report. The study, focusing on sports and streaming, analyzes how sports content impacts subscriber acquisition, retention, and overall engagement. The report incorporates data from virtual multichannel video programming distributors (vMVPDs), league-specific services, and regional sports networks.
Antenna examined subscriber data following the launches of direct-to-consumer ESPN and Fox One offerings. These launches represented some of the final components of sports programming moving away from traditional pay TV. The report analyzed trends in vMVPDs to assess whether these launches had an impact on cord-cutting behaviors.
From launch through October, Antenna estimates approximately 3 million cumulative sign-ups for ESPN and 2.3 million for Fox One. These numbers exclude existing Disney subscribers who transitioned from other plans or users who activated the service via a partnership with a multichannel video programming distributor. According to Antenna, over half of those subscribing to ESPN – around 1.7 million – chose the new ESPN Unlimited plan, while the remaining subscribers opted for ESPN Select, the renamed ESPN+ tier. Fox One, which provides entertainment and news alongside live sports, experienced considerable growth in October, securing over 1.1 million sign-ups that month.
The report notes that vMVPD sign-ups decreased to 4.7 million in the third quarter of 2025, a 12% decrease year-over-year. However, the sector did see a seasonal boost in September, coinciding with the return of major sports leagues. YouTube TV, which holds exclusive rights to NFL Sunday Ticket, expanded its market share to 44% during the quarter, marking a 6 percentage point increase from the previous year. NFL-specific streaming services exhibited substantial growth. Antenna estimates 3 million subscribers for NFL+ and 2.1 million for NFL Sunday Ticket during Q3 2025. In comparison to the same period in 2024, NFL Sunday Ticket subscriptions increased by 37%, while NFL+ subscriptions grew by 22%.