Reflections on Unlocking Digital Monetization in Sports Broadcasting: A Few Insights from a SportsPro New York Roundtable

How to navigate technological advancements and shifting consumer preferences

Recently, I had the opportunity to participate in a dynamic roundtable session hosted by SportsPro in New York. The event brought together industry leaders from various sports broadcasting platforms, including well-regarded media entities such as Bally, MSG Networks, Triller, SNY, FloSports and the YES Network. Our discussions revolved around the challenges and opportunities in monetizing digital content in the sports broadcasting arena.

Challenges in Digital Monetization

A significant - and consistent - challenge was highlighted across our industry: The struggle to align sales strategies with the evolving digital landscape. With sales teams juggling both linear and digital sales, there's a disparity in prioritization, with linear content taking precedence due to its established revenue streams.

I couldn't agree more. There’s certainly a challenge in trying to shift priorities to digital impressions over traditional linear ads. This legacy mindset prevalent among buyers poses a hurdle in valuing digital content appropriately.

A few folks shared insights into subscription revenue challenges, particularly when it comes to seasonality. With viewership dropping off after the season ends, maintaining consistent revenue remains a formidable task.

Strategies for Growth

Despite these challenges, our panel discussed various strategies for fueling growth, whether through advertising or subscription models. The importance of data consistency was stressed with a suggested shift towards a 12-month season approach. Wrestling was cited as a successful example here.

On this topic, I highlighted a need for strategic pivots, drawing inspiration from the NBA's successful adaptation to digital trends. A/B testing and tailored subscription offerings were identified as potential avenues for growth.

Building the Perfect Monetization Platform

Our discussion delved into the ideal characteristics of a monetization platform. We expressed a desire for platforms that provide transparency and data ownership, emphasizing the importance of retaining control over customer data and minimizing disruptions during migrations.

Technological challenges, such as migration issues and user interruptions during payment processes, were also addressed. The need for seamless transitions and fail-safe mechanisms to mitigate disruptions was highlighted as crucial for customer satisfaction.

Case Studies and Success Stories

One of the team highlighted a particular success story, boasting 100s of thousands of pay-per-view buys at a healthy price point. Despite initial skepticism about their model, the consistent performance highlighted by the use case underscores the potential of digital-first approaches in sports broadcasting.

We closed with a call for ongoing discussions and collaboration within the industry to tackle these challenges collectively.

Conclusion

The SportsPro New York roundtable offered invaluable insights into the evolving landscape of digital monetization in sports broadcasting. As we continue to navigate technological advancements and shifting consumer preferences, innovative strategies and collaborative efforts will be key to unlocking sustainable growth and profitability.