Media copyright has reached its peak - the sports industry has entered the 3.0 era
There is no doubt that the sports industry will do its best to maintain its broadcast revenues. But as sport enters the 3.0 era, we believe that sport needs to move away from its over-reliance on broadcast revenue to become a comprehensive digital media industry, integrating e-commerce, streaming, ticketing, sponsorship, membership, loyalty and gaming. The operation of these business models is fundamentally changing, and we call them the "Sports 3.0 Era".
Andrew Collins, CEO of MailOnline Sport, said: "Even though many media and sports assets may have reached the 'Everest', global audiences can attest to the growing globalisation of sport, while new broadcast and digital rights opportunities are created. Global platforms such as Facebook, YouTube and Twitter have accelerated the need for an international strategy of 'multi-platform, multi-product' - and rights holders who are adapting quickly are bound to benefit. "
The "Sports 3.0 Era" manifesto, presented by Postman Sports and Seven League, highlights how the new crown outbreak has accelerated the transition of the sports industry to the 3.0 era. In the 3.0 era, digital communication is making a fundamental impact on the entire sports industry, including content, sponsorship, data, streaming media, and the overall competitiveness of competing audiences for attention.
In the era of sport 1.0, the Industrial Revolution gave us more leisure time to enjoy and participate in sports, creating an era of entertainment and social interaction. In the era of sports 2.0, we established the sports industry. We sell tickets to events, develop sponsorship partnerships and advertising products, and we package and sell the rights to watch sports for a fee, making athletes a profession and the sports industry grow.
As we enter the 3.0 era, the digital revolution is reorganizing sports consumption and how to discover and commercialize sports. New competitive forces and media outlets are changing the industry we love, reshaping the business model of the sports industry and emerging new opportunities.
Richard Ayers, chairman of Seven League, said: "Digital reform has provided the sports industry with the opportunity to connect directly with consumers, but this capability is not just in the sports industry. Amazon and other big technology companies are the transmitters... Sponsors can be more confident about their ROI by contacting them directly... People who have data have power. At the same time, when the audience doesn't want to 'own', people become more focused on 'owning the audience'. Trust is the currency of the future. Sport must be proficient in value exchange and build trust. "
Behind those giants, however, a large number of second- and third-tier brands are about to see revenues from media rights deals cut. These revenues have proven to be critical to the sustainability of some sports and are often used to invest in mass participation projects. We believe that as an industry, it is vital that sport act quickly to diversify its revenues. "
Sport plays an important role in culture and society. For the industry as a whole, the 3.0 era of sport is probably the most important after the global outbreak of the new crown. New strategies, new audiences, new media will determine how sport will be cashed out, consumed and loved.
Welcome to the era of Sport 3.0.
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