Key Trends Driving Sports Streaming
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Jonathan Hurd: Diving into the key trends, we're seeing internationalization as a major trend. Leagues and teams are seeking to turn their domestic audiences into global ones. We've got some slides you'll see on interest, and it is surprising how well some leagues and teams have done in broadening their interest in other markets. In terms of digitization and data monetization, leagues are increasingly adopting technology. A great example here around new fan experiences is Statcast. And it's hard to imagine for me at least, watching baseball games now without the not just the strikes zone, but also things like exit velocity, how far the ball went, et cetera. They really add to the appreciation of the game. And then of course there are tailored products and apps and gamification of a lot of these sports is on the rise.
So, teams are looking beyond their brands into target areas, such as esports, amateur participation. One of the reasons that a lot of these leagues have become more global in their appeal is that they have cultivated amateur participation in other markets. So, baseball in Latin America, for example, has become much more popular as a result in some cases of the MLB promoting it. But there are also other revenue streams--betting, collectibles, et cetera. And then, in terms of regulation, competition, there are stricter budget controls, but also transformation of business models. Many leagues have recognized the importance of creating a degree of parity in their leagues so that teams can compete--things like salary caps, salary ratios, et cetera. And then, changes to the game itself. I keep bringing up baseball--it's my favorite sport--but the game can lag sometimes. And so there have been changes made to like limit mound visits, et cetera. And then the fifth big area that we've been seeing lately is investments from institutional investors, PE firms targeting leagues and clubs to unlock their full commercial potential.