One can surely say that 2K owns basketball in the gaming industry because following EA's decision to press pause on NBA Live back in 2012 and thereafter cancelling NBA Live 13, there hasn't been a doubt on anyone's mind regarding who is the boss, despite controversial microtransactions. Because of this, many were hoping that the release of NBA Live 20 earlier this year would become a true competitor to NBA 2K20. This, however, will sadly not happen.
EA recently stated that NBA Live 20 has been cancelled in its fiscal report. Instead, EA will focus on reviving the series somewhat for PlayStation 5 and Xbox Scarlett next year. Regarding what will change, we don't know for sure, but we'll keep you updated as things progress.