Tata report predicts big things for sports market in 2019
2019 will be a tipping point for the global sports industry, with digital technology innovation kick-starting a new era of unprecedented commercial growth for broadcasters, rights holders and sports organisations.
That is the big prediction in a new report examining the commercial transformation of sport.
Produced by Tata Communications, “Show Me the Money!” features insights from Formula 1, MotoGP, the European Tour and DAZN. It highlights that streaming platforms, eSports, VR apps and other technological innovations are becoming crucial revenue drivers for sports alongside media rights, event attendance, sponsorship and merchandising.
Not only do they help grow a sport’s global viewership in terms of volume, the reports states, but they can “boost engagement among fans, creating a more compelling value-proposition for sponsorship and advertising.”
“Digital technologies are the friend, not the enemy, of the live experience,” said Mehul Kapadia, global head of marketing at Tata Communications.
“So, as the digital fan experience gets better, the pressure is increased to ensure that fans at venues can engage with the action in new ways too. A holistic fan engagement strategy enables broadcasters, rights holders and other key players in the sports ecosystem to maximise the commercial opportunities that digital platforms offer.”
Other key findings of the report include:
- The lines between traditional and digital media platforms have blurred, causing a seismic shift in the entertainment landscape, tearing down traditional geographical barriers, and highlighting the need for the sports ecosystem to rethink how revenues are generated.
- Digital platforms are giving sports access to geographies and audience demographics they were previously unable to reach.
- The approaches the sports ecosystem is taking to reach new audiences and improve fan engagement are highly interrelated: the desire to get more people streaming live content on Facebook does not negate the necessity for packing stadiums full of fans.
For more information and to download the report visit https://www.tatacommunications.com/digital-futures/show-me-the-money/