The latest “State of Subscriptions” report from Antenna, focusing on sports and streaming for Q4 2025, highlights the continuing importance of live sports for video-on-demand services. The report delves into how sports programming influences subscriber acquisition, retention, and engagement across various platforms. This includes data from virtual multichannel video programming distributors (vMVPDs), league-specific offerings, and regional sports networks.
Antenna analyzed subscriber data following the launches of ESPN direct-to-consumer and Fox One, examining their impact on the pay TV landscape. These launches represented some of the last major sports programming blocks to move exclusively to streaming. The company studied trends in vMVPDs to see if these new services affected cord-cutting behavior.
From launch through October's end, Antenna estimates 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 and users who activated service through a multichannel video programming distributor partnership. Of those subscribing to ESPN’s offerings, Antenna discovered that over half – approximately 1.7 million – chose the new ESPN Unlimited plan, with the remainder opting for ESPN Select, formerly known as ESPN+.
Fox One, which offers entertainment and news alongside live sports, experienced substantial growth in October, gaining over 1.1 million sign-ups during that month.
According to the report, vMVPD sign-ups declined to 4.7 million in Q3 2025, a 12% year-over-year decrease. However, the category saw a seasonal increase in September, coinciding with the return of major sports leagues. YouTube TV, the exclusive home of NFL Sunday Ticket, increased its market share to 44% in the quarter, up 6 percentage points from the previous year.
NFL-specific streaming services also experienced considerable growth. Antenna estimates 3 million subscribers to NFL+ and 2.1 million for NFL Sunday Ticket during Q3 2025. Compared to Q3 2024, NFL Sunday Ticket subscriptions rose by 37%, while NFL+ subscriptions increased by 22%. "Live sports continue to play a significant role in streaming video-on-demand," according to Antenna’s Q4 2025 report.