For the last few decades, the sports industry is on top of its business, but the first Q1 of 2020 is the worst phase because of the deadly disease Covid-19, also known as Coronavirus. This leads to stopping all sports across the globe. It is the saddest part of sports fans like me. Before going into the topic, let me tell you to follow WHO for safety precautions, which keeps you away from Covid-19.
Talking with one of my closest friends who has been analyzing sports for as long as I can remember, here is what he found: the significant movements like rising of digital media on sports, esports, and diversity issues like promoting individual sports. In recent years we have seen women sports are evolving in every game across the globe.
Every sport has millions or even billions of fans, right?
This brings the vast opportunity to the competitors: for sponsors, for the media, and the fan base. As previously said, there are a lot of sports across the globe, so every game has to work hard to stand on top as well as to retrieve your fan base and increase the revenue of your sport.
We predicted some top sports trends which we will see in the next quarters of 2020.
We hope this is the top 5 trends will have the most significant impact on Sports:
Let’s get started!!!
Women’s sports is one of the exciting trends in the sports industry in 2020. We all knew that men’s international games have had more craze than women’s a year ago, but in the upcoming days, we will see women’s sports going to match the same popularity as men’s games.
According to the recent stats,
→ 66% of the population is interested in at least one women’s sport.
→ 84% of the general sports audience is interested in women’s sport.
→ The number of women athletes at the Olympic Games is equal to men’s athletes.
For most of the right holders, brands, and media, it’s the right chance to increase your income along with a huge fan base for the sport. In the UK market, women are estimated to own half the personal wealth and the number is still growing. Because of this, the popularity of women’s football, the sponsors linked between Barclays Bank and Budweiser in collaboration are planning to launch a women’s league.
“The Walgreens company came to the sport for supporting some countries like Northern Ireland, England, Wales, and the Republic of Ireland.”
“As per recent news, Drum reported that they are going to advertise and sponsor the Australian women’s football league, which is going to be conducted this year.”
Along with this, there are more sports for women like NBA leagues, Hockey, and recently women’s Cricket World Cup conducted in Australia.
By considering all the above stats, you can clearly understand why the growth of women’s sport is number one on my list.
I have seen that the Esport has been listed in sports trends for the last 3 consecutive years on deloitte.com. This year Esport is going to generate $1.5 billion of annual revenue. The Business Insiders says that the viewership of Esport is going to be increased by 9% CAGR between 2020 to 2023 – the exact number is 646 million.
Every game in the sport industry has utilized the opportunity to be part of this sensational trend. As we all know, the Esport has become famous with the football and F1 fan base where they play Fifa & F1 video games. The most famous football team Real Madrid has been planning to update their home ground with Esports studio in it, which will increase their revenue to £3m, Interesting, right?
This sport has been creating a separate Professional League for its followers. This helps to grow their fan base across the globe. Here is the small stat of the increasing fan base of Esports.
The competition in Esports media is heating up for the leading marketer platform Twitch. In 2018 and 2019, Twitch has grabbed exclusive Overwatch League rights, which was the top deal last year.
Do you know?
The exclusive agreement between Esports giant ESL and Facebook to live stream the games on the world’s most popular social channel has helped in gaining more followers and watchers from around the globe, this influx of viewers has definitely had a positive impact on the Esport popularity in recent years.
To get successful in Esports sponsorships, The sport needs to have creative content, which will be the key to success. The sports experts say Esports will be remaining one of the best dynamic sectors of the entertainment industry in the upcoming years.
We all hear that no player is bigger than the club, but in 2019 the old proverb proved wrong by the legendary player Ronaldo who moved to Juventus in 2018 summer. Juventus sold 520,000 shirts in one day with the help of Ronaldo. The same Juventus sold 850,000 shirts in the whole year 2016; this is a huge difference.
The easiest way to increase your identity is by advertising, right?
Now, most of the sports teams in football are promoting their brands on products such as T-shirts, shoes, track pants, and more, which are selling to the fans and providing them discounts on their products seasonally. If you see Spanish soccer giant FC Barcelona is promoting their brand with Nike, also FC Barcelona is the most Francese generated the most record revenue of $959.3 million between 2018 and 2019.
In 2020, we expect the power of personal branding is going to be increased for the players and the sports team. However, brand adoption depends on individual teams.
For every sports team, it’s crucial to have social profiles or social channels, which helps you to create a fanbase, and you can capitalize the brand opportunities. The social channels like Facebook, Instagram, and twitter give space for larger fan followers, this helps the sport to create a good rapo with the fans.
Make use of Insta and Facebook stories to update your latest news, live stream with your top players, small clips of training sessions, Q&A for the fans, and much more, which creates most followers for your channel. These stories can generate some revenue through brand sponsorship.
In social channels, you can leverage your social accounts for your top talents for boosting the engagement of the brand, if you look at the followers of FC Barcelona is 70 million which is dominated by Lionel Messi who has 118m followers. By leveraging the social channel to Lionel Messi, he helps the club to increase his followers.
To stand-OUT in your sports industry, apply the above trends and stay updated. Let me know if you have any information to share about the topic, please give us a comment so we will try to reply as soon as possible.
See you in the next article, until then have a good time :)