Sporting events across the world have seen a dynamic shift during the pandemic since the pandemic in 2020. Fan participation in real life with a sea of people filling up stadiums and arenas is not like it used to be. Naturally, the assumption then befalls that sports broadcasting has been disrupted as well. But in reality, these changed times have merely accelerated the need for sports to move from traditional broadcasting and adapt to innovative fan experiences.
Television is no longer the privileged medium of household sports media consumption. A big problem with cable and satellite broadcast is that its content is regulated into a time slot. If you didn’t tune in, you missed watching the game. But ever since OTT platforms made a roaring arrival in the latter half of the last decade, content creators have given the consumer control over what content they watch. Not to be left behind, now sports broadcasters are increasingly taking notice of this. Plus, with the kind of technology and features an OTT video streaming service offers, sports is becoming an attractive digital viewing experience in the new world.
For a long while, ‘OTT’ has been associated with entertainment video streaming platforms such as Netflix, Amazon Prime, Hulu and many more. With new regional and global players constantly entering the OTT market, content availability is bound to reach a peak saturation point. That is why right now is the perfect time to look at sports as the next big content treasure in the OTT ecosphere.
But before you venture into starting a sports OTT service, here are 4 things to remember that will make this decision a successful one.
As consumer behaviour varies across diverse global markets, an advantage OTT offers is that it makes for a personalized service. It is important to note that when a streaming service market is dominated by the likes of Netflix and Amazon, the success of any new OTT service doesn’t just depend on the quality and breath of its content but also on how it caters to the preferences of an individual user. A survey by Quantum Market Research had found that 96% of British soccer fans were willing to pay more for an SVOD (subscription video on-demand) service if it provided a personalized experience. Bo Han, CEO of Buzzer offers an interesting insight when he says the next generation fan is more player led than team-led and will continue to prove an important point for engagement and stats.
Video Delivery Optimization
A sporting event is more often than not consumed live and audience member activity tends to fluctuate throughout the duration of the event. Factors like latency and picture quality need to be looked after in a live stream. Hence, it is necessary to weigh the options of seeking end-to-end solution providers who work with video processing and delivery solutions. This can ensure a robust and accelerated backend tech that distributes the highest video quality that sports content requires.
As consumers continue to migrate from traditional TV, sports properties and their rights partners need to expand and diversify their offerings on OTT platforms. This is where a cloud-based SaaS solutions stand out as a viable and cost effective option to manage the platform. OTT software comprises a host of tools, applications and services that enable content creators and publishers to distribute OTT media and even monetize it. A cloud-based SaaS strengthens the required compatible infrastructure or content management workflows thereby unifying the process of delivering content to the distribution partners in different markets.
Data & Revenue
A tailor-made OTT experience is not only attractive to consumers but it also draws the attention of brands. This possibility improves the opportunities of developing business partnerships with advertisers and sponsors. Furthermore, sports fans are some of the most loyal communities. Despite home isolation fans will continue to demonstrate their passion for their favourite player or team even if they cannot physically attend events. This makes the prospect of dedicated online stores, sneak-previews, pay-per-view events, and past game replays a lucrative revenue source. These creative avenues open up more channels for sponsors to connect with their potential audience too. It is a win-win at the end of the day.
So what are you waiting for? With Enveu as your partner, your foray into sports OTT is bound to be a remarkable one. Get in touch now.