The “Must Have” rule for televising football in Thailand has undergone a significant change, particularly impacting the FIFA World Cup, which is no longer mandated for free-to-air broadcast. This reflects a shift towards aligning with global trends in sports broadcasting, where exclusive rights are increasingly held by paid platforms.
Previously, the National Broadcasting and Telecommunications Commission (NBTC) had a “Must Have” list of major sporting events that were required to be broadcast live on free-to-air television channels. The FIFA World Cup was a prominent fixture on this list. The intention was to ensure that the general public had free access to these highly anticipated events.
The analyst from Bualuang Securities (BLS) stated that the lifting of the “Must Have” rule—previously requiring private broadcasters to air major sports events such as the FIFA World Cup for free—had a significant impact on private sector investment. Private companies were reluctant to invest in broadcasting rights, deeming the investment “unworthy” since they were mandated to provide free broadcasts, substantially limiting potential profits. With the cancellation of this rule, private investors will now have increased opportunities to monetize these broadcasting rights, making such investments potentially more lucrative.
This regulatory change is expected to intensify competition for the World Cup broadcasting rights. Winning broadcasters will now have the freedom to air matches on their own chosen platforms and will no longer be compelled to provide free-to-air coverage as previously mandated by the “Must Have” rule.
For reference, the broadcasting rights for the 2022 FIFA World Cup were priced at 1.4 billion baht, which is still a considerably steep figure. Bidding and negotiations for the upcoming World Cup’s broadcasting rights are expected to take place early next year.
The analyst also commented on the competitive dynamics between Advanced Info Service Public Company Limited (SET: ADVANC or AIS) and True Corporation Public Company Limited (SET: TRUE). In their view, AIS stands to gain more value if it secures the rights, primarily because AIS already offers a range of sports content such as the English Premier League and Thai League football. Securing the World Cup rights would allow AIS to further attract and retain football viewers, especially those who watch international tournaments, enabling the company to upsell ongoing sports packages to those customers after the tournament.
TRUE, on the other hand, may face limitations. The company is unlikely to bid aggressively for the rights, as the investment may not be justified—TRUE may only benefit for a single month during the tournament, and it lacks a comprehensive suite of sports packages to retain World Cup viewers long-term.
On Thailand’s prospects in the World Cup qualifiers, the analyst noted that the national team has a slim chance of advancing to the final rounds. As such, the likelihood of widespread live broadcasts of the qualifiers remains low, except for matches featuring the Thai national team, which probably would not impact the final outcome anyway.
