How to generate new revenue streams from digital content
Pete Burns, Commercial Manager at our partner Deltatre, offers his insight into the revenue-generating possibilities from digital content.
Digital content creation and production for sports events is a prime opportunity for event owners and rights holders to reach and engage with audiences directly. In the past, digital content rights were bundled with broadcast deals and if shown at all, digital coverage was merely a live stream of a broadcast feed. As Bob Dylan said, “The times, they are a changin!”.
Meeting demand with engaging content
Today’s audiences demand more content to satisfy their desire for sports content. Price Waterhouse Coopers project that the value of sports media rights worldwide will increase from $29.2 billion in 2010 to $35.2 billion in 2015. Excluding major events, growth for ongoing events would be at 6.6% on a compound annual basis.
The demand is certainly there, as we’ve seen with the Premier League’s domestic broadcasters renewing at an increase of 70% from the previous deal. For The Open Championship, a move from free-to-air to pay-TV has a rumoured 100% increase on their domestic broadcast rights.
The challenge now is to meet that demand with content that engages the existing audience – to strengthen the relationship between the sport and its fans, while looking ahead to the fans of tomorrow (reaching new audiences), by spreading into new demographics or new geographies.
To find out which 6 key elements Pete believes event owners should be focussing on to help meet the increased demand for content, visit his blog on deltatre.com by clicking here.