Regardless what we have witnessed so far in 2017 as Sports Business Trends is concerned, its excepted a continuous growth in the content and fans in the center of it. Nonetheless, the efficient use of such platforms where the content is shared is also crucial to the clubs/leagues/players/sponsors.
As so, these are the hot-topic trends of today and tomorrow:
- E-Sports: An innovative-technology-oriented-business which is taking the world and the sports market by storm. Well-known companies and influencers are already investing in the latter niche-market. As reported in previous years, E-Sports will likely reach the 1-Billion-dollar business by 2018.
- Increasing use of wearables/technology throughout the globe and leagues to enhance the detail-oriented path sports is towards with innovative information regarding performance in practice and games. Within NBA’s 2017-2018 preason Nike – new official jersey supplier – announced that fans will be able to connect with players’ jerseys and analize stats of the latter, the team and the league via app. How engaging is that? (To further information: https://goo.gl/FTYhJ4 (As an example: Stephen Curry’s ability to knock-down three pointers from far behind the line is related with physical tools developed behind the scenes. For more information on the latter: http://foxsportsstories.com/2017/10/17/stephen-curry-the-behind-the-scenes-under-valued-workout/
- Over-the-Top (OTT) platforms: Sports media landscapes is certainly an up-to-date topic. Thus, there is an increasingly number of nontraditional media companies pursuing sports rights such as Facebook, Twitter, Amazon and Apple. Who started this trend? Netflix and HBO. WME | IMG started recently to slightly change its strategy: Own content through acquisitions. And that’s a comprehensive move. Consumers are changing from cable to digital media. Key point? Unique content. Personalized/customized content. Customers are becoming more demanding, companies should deliver it to retain them.
- Augmented Reality (AR) and Virtual Reality (VR). How can a beloved Cleveland Cavaliers fan from China experience a game in Quicken Loans Arena from another Continent? At least this fan can try new technology and feel like being in a front court seat. How business experts thought of this trend as successful? Everyone can see how rapidly Pokemon Go app rose. AR is coming and teams/clubs are heavily investing in it. An attractive target? Millennials.
- Data: new and engaging.
- Ciber-Security: All the previous Sports Business trends included technology or digital tools. Therefore, there are advantages towards the digital shift. However, there are some risk involved as well. From hacking scouting reports, to financial situations through e-mails, successful sports companies can be in jeopardy if they do not invest in digital security.
Among Sports Business, there are trends popping at the moment. Which will be the next? Hint: It maybe connected with technology.