Join Parks Associates on April 5 for a *sneak peek* at our OTT Video Market Tracker, profiling hundreds of OTT services, as well as estimating subscriber numbers for services. Check out an excerpt from our recent report.
Content is king and sports content is the most valuable and unique content a service can acquire. Broadcast sports are a multi-billion-dollar business, and because of advancements in technology, viewers can experience an astonishing level of visual and acoustic clarity. Video cameras have become so accurate that they can visually show the way a ball spins after being hit by a bat; players can now hear conversations taking place both on the field and on the sidelines.
Parks Associates monitors and tracks over 50 sports-specific OTT streaming providers in the OTT Video Market Tracker. Advanced technologies, increased use of connected devices, sports rights negotiations, and continued interest by fans in watching content on different devices continue to drive the adoption of sports OTT services.
According to studies on identification and fandom, sports fans have better self-esteem and general happiness. Fandom binds fans to other like-minded people, which satisfies a fundamental need to belong. Parks Associates finds that 21 million US broadband households watch live sports online.
Sports content is fragmented. As more sports services enter the OTT market and sports rights shift online, the user experience for locating events is becoming more difficult. Parks Associates research shows that nearly half (49%) of all sports fans are willing to pay up to $20.00 per month to get access to all of their favorite teams and leagues via a single service. Pricing strategies are a critical aspect of DTC launch strategies.
Sports fans are engaging with interactive features. If the chance presents itself, the majority of fans that interact with sports content would engage with an interactive element inside a live broadcast or utilize hash marks and timeline features to navigate a live stream in order to observe goals or highlights. According to Parks Associates findings, 48% of sports fans have engaged in at least one interactive feature while watching sports.
Sport media rights holders want to get games in front of as many eyes as possible. The impact of online-only and streaming services to reach specific audiences is enormous. In order to compete with the digital titans, media conglomerates with conventional and online services are shifting finances and resources to launch, improve, and develop streaming services targeted at sports fans.
Traditional pay TV is losing the stronghold it once had on sports media rights. Streaming providers, in search of original and exclusive content, look to live sports to attract and maintain their user bases. The sports consumer's experience is moving online and away from traditional pay TV, resulting in yet another sector of the pay-TV demographic to cut the cord. This report examines key trends in sports content and provides an overview of the pay-TV sports media landscape, OTT sports services, direct-to-consumer trends, and the sports fan’s viewing experience. The report includes a five-year forecast for OTT sports service subscriptions and revenue in the US.
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