Paramount+ has secured naming rights to the outdoor plaza at T-Mobile Arena in Las Vegas, adding a permanent presence outside the 18,000-seat venue that hosts the Golden Knights and roughly 150 events annually. Financial terms were not disclosed. The deal gives Paramount+ branding on the east-facing entrance plaza, which sees foot traffic from Las Vegas Boulevard during NHL games, concerts, and UFC events. The arena itself retains T-Mobile naming rights through 2037 under a $150 million deal signed in 2016.
The move extends Paramount+'s sponsorship footprint in sports venues while the broader Paramount Global enterprise navigates a merger with Skydance Media that closed in Q1 2025. Paramount+ has roughly 68 million subscribers globally as of the most recent filing, trailing Netflix's 283 million and Disney+'s 150 million. The platform carries live sports including NFL on CBS, Champions League soccer, and select college football, but lacks the scale of competitors who have paid billions for NFL Sunday Ticket or NBA packages. Las Vegas plaza signage offers visibility without the commitment of a full venue naming deal.
T-Mobile Arena opened in 2016 and is co-owned by MGM Resorts International and AEG, the latter also operating Crypto.com Arena in Los Angeles and Mercedes-Benz Stadium in Atlanta through management contracts. The Golden Knights averaged 17,936 fans per game last season, sixth in the NHL. The arena also hosts residencies—Adele played 34 shows there in 2023—and boxing cards that draw international betting handle. Paramount+ now shares the property with T-Mobile's exterior signage, Coca-Cola's bowl branding, and various interior category sponsors. The plaza deal resembles Michelob Ultra's 2022 agreement for courtside club naming at Chase Center in San Francisco: secondary real estate, brand exposure during high-value events, lower cost than primary naming.
The strategic question is subscriber conversion. Paramount+ needs 100 million global subscribers to approach break-even on content spend, according to analyst estimates. Sports rights help retention—subscribers who watch live sports churn at half the rate of entertainment-only users—but Las Vegas foot traffic skews tourist, not local. The plaza will carry Paramount+ branding during Golden Knights playoff runs, which draw Strip visitors, and UFC pay-per-view events that Paramount does not carry. The logic appears awareness over acquisition: logo visibility in a market where 42 million annual visitors pass through, some percentage of whom might remember the brand when browsing streaming options at home.
What matters for other properties: this signals continued appetite for tiered naming inventory at premium venues. T-Mobile Arena has now monetized its primary naming rights, a plaza, a restaurant level, and multiple clubs. AEG has applied the same model at its other facilities. Team owners and venue operators looking to add non-primary naming revenue can point to Paramount+ as a case study: a brand willing to pay for placement without the flagship commitment. The deal also suggests streaming platforms still view sports adjacency as worth the spend, even as subscription growth slows industry-wide.
Paramount Global reported $30 billion in revenue for 2023, down 6 percent year-over-year. Paramount+ lost $1.6 billion in the same period. Skydance's acquisition brings new management under David Ellison, who has prioritized profitability over subscriber growth in public statements. The Las Vegas plaza deal was likely negotiated before the merger closed, but it remains active under the new structure, suggesting Skydance intends to maintain sports sponsorship at some level.
Watch for Paramount+ renewals of its Champions League and NFL rights when those deals expire in 2027 and 2033 respectively. The Las Vegas plaza agreement likely runs three to five years based on comparable secondary naming deals, meaning a renewal decision around 2028. MGM and AEG will continue segmenting T-Mobile Arena into smaller sponsorship parcels; a club or gate naming package could surface within 12 months.
The takeaway
Paramount+ bought plaza signage at T-Mobile Arena, adding visibility in a high-traffic market without flagship venue commitment.
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