The landscape in Major League Baseball media rights is shifting through an earthquake, propelled by the vast financial instability of Diamond Sports Group and its Bally Sports networks. That bankruptcy in March 2023 by DSG set off a domino that could redefine how fans watch baseball, pushing MLB into potentially revolutionary changes in media rights management.

The bankruptcy of Diamond Sports Group has brought so much uncertainty that it has led to talks of a media rights fees cut for MLB teams. In fact, Major League Baseball is mulling whether it shall take over the local broadcasts in case DSG fails to make good its payments. This, therefore, will mean that MLB takes over the managing or reassigning of the media rights. The financial instability of DSG made this not only likely but made it so that MLB could now come in and reshape the media landscape.

Meanwhile, Commissioner Rob Manfred has said he'd like to offer a national, in-market streaming package to about half the league's teams by 2025. But just how viable that new streaming package is going to be is very much tied to what happens with DSG's bankruptcy. To make the package viable, MLB would need at least 14 teams' rights. This ultimately can change the face of baseball consumption, in the way that it now advertises MLB and is engaged in this larger trend toward streaming as opposed to watching on traditional cable.

As part of its bankruptcy court proceedings, DSG has filed a deal under which it would continue to televise profitable MLB games on Bally Sports through 2024, but if deals are not struck, then following that season, DSG could drop its broadcasts of Major League Baseball. A June 2024 court date determines the fate of DSG's plan to exit bankruptcy. The plan is supported by Amazon, and with its approval, this could have far-reaching effects on MLB's streaming plans and that of its media rights strategy in the future.

The result of DSG's bankruptcy could slow down MLB's plans toward a national streaming package, or they might have to scrap them entirely. It could be that MLB does not have enough teams' rights secured to launch it next season in the event that DSG gets out of bankruptcy. It would impact clubs like the Cleveland Guardians, Minnesota Twins, and Texas Rangers—all on one-year deals with DSG but potentially free agents for new broadcast deals post-2024. This really just outlines exactly how precariously things stand right now in regard to these deals.

However, regional sports networks have their new streaming initiatives. This week, for example, saw the launch in tandem of both the YES Network and MSG Networks with "The Gotham Sports App," a unified streaming service designed to be used by New York fans for New York teams. This repeats a larger trend of consolidated streaming services in regional sports, which brings some hope and offers some model for MLB's potential national streaming efforts.

And then there are the rumours that MLB may actually nationalise its media rights or form new media alliance partnerships with companies like Amazon and Apple.

The financial disarray of DSG and the overall deconstruction of the traditional cable model are pushing MLB to think in innovative directions regarding solutions for broadcasting. Surely, a centralisation of media rights would drive more standard quality across the board and, theoretically, better revenue under national deals. However, this move could come at the expense of local flavour and a unique regional identity, which has been long characteristic of broadcasts on MLB. Teams that are highly dependent on local broadcasting dollars are going to take an economic beating, with little assurance of whether or not things will ever even out for them in the future.

As the MLB moves towards streaming, it could completely redefine the fan experience with baseball. The addition of better technology integration—think something like virtual reality—could just make watching a far more personalised experience and boost excitement as well. However, moving towards streaming does raise questions of accessibility, especially to older fans accustomed to cable.

A final piece of this change in course, no doubt, will be determined in the outcome of DSG's bankruptcy and whether Amazon or some other investor becomes involved. But perhaps most important, a successful exit plan for DSG via bankruptcy could further grease the skids on MLB's long-expected move to a more centralised or streaming-oriented model—something that has implications well beyond the details of who will pay what and where baseball will be viewed and consumed in the digital age.

DSG's bankruptcy is one of those events that likely have very deep long-term effects on MLB's media landscape; the evolution of MLB's strategy at centralising its media rights and really getting into streaming might need to find a balance between innovation and keeping the local flavour which has been created in baseball broadcasts over the last decades. The evolution of media strategy could provide MLB fans with new ways of interacting with baseball to navigate the intricate world of media rights economics in 2024 and beyond.