Summer Olympics aside, sports attendance and viewership is eroding as it struggles to keep pace with innovation in the digital-entertainment world.
This begs the question: Can it win back fans, especially younger ones, through fast adoption of personalized tech?
It is a topic recently examined by the Info-Tech Research Group and Association of Luxury Suite Directors in a survey of members. What they found is that 79% believe personalized experiences are a “top opportunity for the premium fan experience” and 57% say improved ticket holder data and insights is a top opportunity.
“As younger generations show less interest and existing fan expectations are unmet, the sports industry’s traditional operating models fall short. Implementing modern strategies and technologies has challenges and barriers to successful execution,” Elizabeth Silva, senior research analyst at Info-Tech Research Group, said in a statement. “Industry leader perspectives and vetted frameworks are necessary to overcome these barriers and sustain the industry in this rapidly changing ecosystem. Examining adjacent industries, such as amusement parks, zoos and aquariums, and understanding how they address these challenges can provide valuable lessons.”
The survey concludes it is essential that IT provides a modern experience in the sports and entertainment industry.
The four major sports leagues and networks are trying to interject tech — whether in the guise of gambling app tie-ins, in-stadium concession sales or streaming services — to offset drops in attendance (MLB) and lower TV ratings (ESPN, MLB and NBA).
Their efforts have produced varying degrees of success. After all, terrestrial TV ratings (aside from the NFL) aren’t what they used to be, and exorbitant prices for tickets, parking and food have made it all but impractical for families to attend games.
The sports landscape demands bold moves, and even those have not gone smoothly. On Saturday, the debut of Venu Sports was delayed when a federal judge granted FuboTV’s motion for a preliminary injunction against the planned sports streaming venture by ESPN, Fox and Warner Bros. Discovery.
