Key Trends in the Sports Industry in 2016: Can You Leverage Them?
It is an exciting time to be running a sports-focussed business or coordinating a group or team, especially with the Rio Olympics and the UEFA Euro 2016 competition firmly on the horizon.
Events such as Euro 2016 obviously offer lots of opportunities for marketing initiatives and business strategies, but what are the other key trends of the year?
Over-the-Top (OTT) Streaming Platforms
This is the delivery of media content, such as sporting matches and shows, across the internet. It can be particularly beneficial for smaller organisations that want to offer their fans or clients information or entertainment they cannot find elsewhere.
Daily fantasy sports (DFS) are a relatively new phenomenon, but their popularity is growing at a rapid rate. Prize pots are increasing, as is interest, but this is prompting talk of greater regulation in America. Discover more about the legality of sports betting in the US and possible changes on the Forbes.
There is much talk about the legalization of general sports betting in America. This could open up opportunities for a variety of business and teams, as well as for fans and supporters.
Cognitive Analytics and Wearable
Advances in technology are opening up a multitude of opportunities for professional and amateur sporting enthusiasts and trainers alike. These range from increased health and training benefits to sponsorship and marketing opportunities.
Better Use of Assets
Teams and businesses look set to continue to use a greater number of ways to increase sponsorship revenues. These include digital and mobile platforms. There is also a growing trend in reinventing existing assets, such as leasing out stadium space when it’s not in use.
New Ways to Attract Fans
The plethora of ways of offering sporting footage means teams must increasingly compete to drag fans away from their sofas. Many experts suggest that investment should be made in technological infrastructure at sporting venues to boost fan engagement.
The Growth of e-Sports
The popularity of professional video gaming looks set to continue with the development of more competitive platforms and infrastructure improvements to facilitate massive growth.