Netflix CEO Ted Sarandos says he has yet to see a profit path in live sports

On Tuesday, Ted Sarandos, the CEO of Netflix, said he has yet to see a path to profitability in live sports on the streaming service.

Sarandos said that the economics of professional sports were built around the economics of television and buying rights.

Sarandos told the UBS Global TMT conference that they had not seen a profit path to renting big sports today.

Rival streaming services Apple TV and Amazon Prime Video have added live professional sports competitions, acquiring rights to major league soccer and the NFL's Thursday night games. NBCUniversal streams the Sunday Night Football games it broadcasts on television via Peacock.

He said that he is confident that the service can double in size without streaming live sports, although he did not rule it out completely.

Sarandos said we're not anti-sports, we're just pro-profit. We have yet to figure out how to do it.