• The joint venture between the networks that locally air New York Yankees, New York Rangers and New York Knicks games, among others, is launching a combined streaming app.
• The app, Gotham Sports App, will launch in the fall before the NHL and NBA seasons.
• The package is believed to be the first time that two regional sports networks have combined their apps into a bundled option.

Gotham Advanced Media and Entertainment, the joint venture between MSG Networks and the YES Network, is launching a new app in the fall that will air local games for seven New York area teams.

The package announced Wednesday is believed to be the first time that two regional sports networks have combined their apps into a bundled option.

The Gotham Sports app will launch ahead of the NBA and NHL seasons. Locals will be able to watch the New York Knicks, New York Rangers, New Jersey Devils, New York Islanders, Buffalo Sabres, Brooklyn Nets and New York Yankees with a subscription.

The Gotham Package that gives access to all of those teams will cost $359.99 annually and $41.99 monthly, almost identical to the monthly price of Fox, Disney and Warner Bros. Discovery's joint Venu streaming service that was blocked with a temporary injunction earlier this month. 

Customers who watch only some of those teams can also purchase access to just MSG+ or the YES App services for $29.99 and $24.99 monthly, respectively. If they already have MSG Networks and YES Network via their pay-TV subscription, they will get Gotham Sports App's services for no extra fee.

"With the increased fragmentation of outlets carrying fan favorite sports programming, The Gotham Sports App allows fans of our teams one easy access point for New York area sporting events from MSG Networks and the YES Network," MSG Networks President and CEO Andrea Greenberg said in a press release.

Notably, SportsNet New York — the regional sports network that airs the New York Mets — is not included in this joint venture. It is only available via FuboTV, DirecTV stream and online login for people who pay for cable. 

Sterling Entertainment Enterprises, Comcast and Charter co-own SportsNet New York.

The regional sports networks business has undergone dramatic changes in recent years. Boston's local cable network that aired Red Sox and Bruins games launched the first stand-alone regional streaming service in 2022, and other markets have followed. 

Diamond Sports Group, the biggest owner of regional sports networks, filed for bankruptcy in March 2023, leading many professional teams across leagues to change the way they air their games.

A handful of NBA, WNBA and NHL teams have turned to local broadcasters, most recently the NBA's New Orleans Pelicans and Dallas Mavericks.

Some MLB teams have opted to have their games produced by the league. 

The Gotham Sports App is not the first regional sports streaming option residents of the greater New York area have had. YES Network and MSG Networks both launched separate streaming services last year, and customers who only want one of the networks' services and not the combined package can still pay a cheaper rate.

Not all the new regional sports streaming services follow the subscription model. The NHL's Dallas Stars and Anaheim Ducks both announced their games would be locally aired on Victory+, a free, ad-supported streaming service owned by A Parent Media Co. 

Both teams previously had their local games carried by a regional sports network owned by Diamond Sports. 

Disclosure: Comcast is the parent company of CNBC.