I think part of the issue is some providers are buying exclusive rights, which I presume they pay more for. Exclusive rights though create monopolies. I think the easy way around it, would be to outlaw exclusive rights agreements in NZ. If all providers were able to buy the content they wanted, and there was no exclusive rights to show that content, so multiple providers could show it, then that would create a more level playing field. It should also be better for consumers, as they then wouldn't need 5 different providers for their content, they may only need 2. Part of the problem in NZ, is we had one main player who used to have most of the content, meaning noone could compete. They do still have almost all the popular sport in NZ, but overtime that may change as online streaming gains more of a foothold.
Maybe the solution is what is happening in the US and UK. But NZ is a far smaller market, and can only sustain a few companies in this market.