Netflix will be hosting the Anthony Joshua versus Jake Paul showdown tonight, and the match is set to be more than just a fight of two boxing champions.

The streaming giant is currently seeking to acquire Warner Bros Discovery’s (WBD) film and TV studios after the media conglomerate rejected Paramount’s offer to buy the whole business earlier this week.

Critics have dubbed the takeover war as a battle of sports opportunities. This is Netflix’s fourth live boxing match in just over a year.

It first flexed its muscles in this space in November 2024 when it streamed Paul’s fight against Mike Tyson, which it reported that 60 million households had watched.

This was followed by Katie Taylor taking on Amanda Serrano in July; and then Saul ‘Canelo’ Alvarez versus Terence Crawford in September. Tonight’s fight will see two-time heavyweight champion Joshua fight influencer-turned-boxer Paul, which has raised concerns over the bout being arguably a dangerous contest.

However, it is also Netflix cementing its position within live sports streaming. The streamer already holds the rights to broadcast WWE matches and has reportedly set its sights on the Premier League after losing out to Paramount in bidding for Champion League packages.

Netflix is supposedly bidding on the Christmas and Boxing Day packages, which in recent years, Amazon has held the rights to.

But why is tonight’s match so vital in this play? Traditionally, boxing match rights followed a pay-per-view model – Netflix has disrupted this. It is no longer just about the views, it’s about sustained engagement and retention on the platform.

For advertisers, particularly sportsbooks, this opens up a whole new opportunity. Netflix has shown that these matches don’t just attract die-hard fans, but can draw in wider audiences.

Connected-TV (CTV) has become an increasingly popular programmatic advertising channel in the last couple of years. Through CTV, sportsbooks can now offer personalised recommendations and target different groups of people. And this is why the streaming platform’s planned takeover of WBD matters.

It’s not just about the TV and film content from WBD (and there are plenty of sport documentaries and films), it’s the sports rights Netflix will gain control of – TNT Sports UK & Ireland, TNT Sports Latin America and Eurosport.

As Guy Meyers, Senior Director, Customer Success (Global), Recurly, previously told SBC News: “Fandom is bigger than ever, fuelled by live rights, behind-the-scenes documentaries and film-driven storytelling.

“It creates more touchpoints than any other genre and opens the door to powerful bundles that connect content, retail and services in ways that drive recurring revenue.”

So if successful, the big winner of tonight’s match will be Netflix, itself.