Media veteran Peter Hutton is heading to join Facebook. The EuroSport’s chief executive, Hutton will reportedly oversee Facebook’s big-money push into live sports streaming.
The social media platform, making serious forays into live sports streaming, had made an unsuccessful bid of $610 million for the Indian Premier League streaming rights. Facebook has made some major commitments to acquire live sports rights to strengthen its new Watch video platform. The rights deals include Major League Baseball, Major League Soccer, and Fox Sports for selected Uefa Champions League matches.
The Englishman, a former TWI India head, will head the live sports business at Facebook. He is tipped to join the mega social media platform shortly after Eurosport completes its coverage of next month’s Winter Olympics in PyeongChang, South Korea.
Hutton has headed the Discovery-owned Eurosport for three years. He has also been a co-chief executive at MP & Silva, where he negotiated rights deals for the Fifa World Cup, among other major properties.
Hutton as TWI’s India head had successfully negotiated the sponsorship deal for the Indian cricket team jersey – committing ₹50 lakh per Test and ₹40 lakh per One-Day International for labelled clothing and ₹5.5 lakh per Test and ₹4.25 lakh per ODI for logo on non-leading arm. The pundits and market had the questioned the Englishman’s wisdom in paying 49% more than what BCCI has been getting for the properties. In fact, Hutton was the visionary to have seen the unmatched potential in Indian cricket rights much before coffers started swelling for the Indian cricket board.
Hutton had left TWI India to set up Ten Sports for Taj Entertainment Network, Dubai.
The veteran is one of the most respected professionals in the sports media and IP industry.
Facebook has been reportedly searching for a senior broadcasting executive to orchestrate its much talked about multi-billion dollar sports rights spending spree.