The latest market analysis report titled Digital Media and Sport – Thematic Research has been added to the report store by GlobalData Plc. Companies are adapting strategies for the digital media age. They are shifting towards a more digital approach to remain relevant in the current era of sports. The explosion of internet sites, social media platforms, and online media has changed the way fans consume sports content. Many now set up social media feeds to follow their favorite teams and view short highlights, as well as follow leagues via streaming services.
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Various stakeholders in the sports sector are deploying digital media for reaching out to a larger target audience. Digital media platforms help creators get noticed and allow them to establish an audience by harnessing the algorithms of these platforms to suggest content to users. In doing this, platforms solved the issue of creators being able to distribute their content. OTT platforms. have stepped up their interest in securing sports rights in recent years. As esports has grown in popularity, professional sports teams and leagues have begun to take an interest in reaching their younger fanbases and nurturing an interest in their respective sports among people who are not avid viewers of sports.
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Digital Media and Sports Trends
The digital media and sports sector is driven by various trends as follows
- Social media
- Rise of streaming
- Virtual Reality (VR)
- Esports events – 5G
- Rise of influencers
- Business growth
- Media rights
- Teams/leagues & OTT
- Shifting audience demographics
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Digital Media Value Chain Analysis for Sports Sector
- Sporting events
- Esports events
- User generated content
- Streaming platforms
- TV channels
- News services
- Social networks
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Digital Media and Sport Companies
The report highlights the companies that are at the forefront of digital media and sports, as well as their current position in the industry.
- Amazon: One such area is sports streaming, and they began making serious inroads when they secured rights to some Premier League games in 2018. The recent renewal of the Premier League rights deals ensures that Amazon will continue to be a key player in sports broadcasting moving forward.
- DAZN: DAZN, which was dubbed the ‘Netflix of sports’ upon its 2016 launch has achieved remarkable growth in recent years. Initially debuting in Germany and Japan, the network’s newly launched streaming service is now available in 200 countries.
- Facebook: Facebook dominates social media globally, with more than three billion people every month using Facebook’s family of apps, including Facebook, Instagram, WhatsApp, and Messenger. Industry insiders have been left confused by Facebook’s strategy, as the company has the user base and financial power to secure rights deals.
- Spotify: Spotify has become one of the biggest forces in digital media over the last decade and is currently the world’s largest music streaming service provider, with over 381 million monthly active users, including 172 million paying subscribers.
- Twitch: Twitch is one of the most used platforms on the Internet for esports players. Tournaments and events are often streamed live, while other content creators will use the platform to stream regularly for their fans.
- Twitter: Rather than transforming into a multi-service platform, like other social media companies, Twitter’s future monetization strategy focuses on providing paid-for additional services alongside the free version.
- YouTube: YouTube has become the second most visited website on the internet since its launch in 2005. The platform experiences one billion monthly users, who collectively watch over a billion hours of videos a day. A sizable chunk of YouTube is dedicated to sports fans and content creators, who make videos to discuss and debate their favorite sports, as well as players of esports games such as NBA 2K.
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