Netflix Inc co-Chief Executive Ted Sarandos has said he has yet to see a path to profitability in live sports on the streaming service.

Sarandos said the economics of professional sports were built around the economics of television — and buying rights is expensive.

“We’ve not seen a profit path to renting big sports today,” Sarandos told the UBS Global TMT conference on Tuesday.

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, respectively.

NBCUniversal simultaneously streams via Peacock the Sunday Night Football games it broadcasts on television.

Sarandos said Netflix has been able to add subscribers without the lure of big sporting events, such as the Super Bowl. He said he is “confident” the service can double in size without streaming live sports, although he did not rule it out entirely, a Reuters report stated.

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

Meanwhile, last month, Reuters had quoted a The Wall Street Journal report saying that Netflix Inc. was exploring investments in live sports broadcasting and bid for the streaming rights for sports leagues.

According to that WSJ report, cited by Reuters, the streamer recently bid for the streaming rights for the ATP tennis tour for some European countries, including France and the U.K., but dropped out of the race finally.

The company also discussed bidding for other events, including the UK rights to the Women’s Tennis Association and cycling competitions, and was in talks late last year to acquire the World Surf League, the WSJ said.