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Unleashing the Power of Sports Content: Fueling OTT Growth While Overcoming Retention Challenges” – Brand Wagon News

by TodayNewsGazette
September 2, 2024
in Sports
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The Power of Live‍ Sports Content on OTT Platforms

The Indian Premier League has⁣ proven⁢ that live sports always capture attention, leading to significant investment in sports content ‌by broadcasters and over-the-top (OTT)‌ platforms. According to Uday‌ Sodhi, ⁤founding partner at Kurate Digital Consultant, sports content, such as the ‌English‌ Premier‌ League and Indian Premier League, consistently draws a large fan⁤ base, making it a lucrative investment for OTT platforms seeking broadcasting rights.

In 2023,⁣ sports rights ​made up approximately 51%‍ of all OTT content spending, with platforms like Amazon⁤ Prime, Apple TV+, and DAZN accounting for 21% of the value of media rights. The global sports market has also seen⁣ considerable growth, reaching $512.14 billion in 2023 with a 5.2% ⁢CAGR, as reported by the Global Institute of Sports Business. The increasing ‍penetration of mobile devices and internet availability has led to ⁤a surge in global OTT sports content consumption. Experts predict that the streaming market for sports content is expected to surpass ‍$93 billion by‌ 2030, offering ⁤significant ⁤revenue potential for sports content owners.

Domestically, Disney+Hotstar and Jio Cinema have both experienced surges in user engagement due to their IPL media rights.⁤ However, the role of sports content in retaining users varies based on the nature of⁣ the platform. According to Soumya Mukherjee, ​COO⁣ of Hoichoi, platforms built around sports will⁢ naturally see sports content as a key retention driver. In contrast, platforms like Hoichoi, focused on fiction content, rely on original shows and movies to⁣ retain users.

In addition to major ⁣tournaments like the IPL and⁣ English Premier League, OTT platforms have also begun streaming local leagues. For⁤ example, ZEE5 partnered with the ⁤Calcutta ⁣Football League, aiming to captivate audiences, ‌particularly supporters ‌of India’s oldest football clubs, East Bengal and Mohun Bagan. However,⁤ the challenge lies in transforming casual sports fans into loyal followers. ⁤While⁤ sports content may attract new users, the key is converting them into regular users. The role of original content and TV shows becomes crucial in building long-term engagement.

live sports content​ holds significant power in the OTT landscape, driving user acquisition and retention when strategically integrated. As the industry⁢ continues to‌ evolve, platforms must leverage sports content alongside original programming to create a well-rounded and engaging user experience.

Tags: audience engagementbrandchallengesContentcontent creationdigital mediadrivesfacesGrowthNewsOTTOTT growthretentionretention challengessportsSports contentsports industrystreamingWagon
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With a solid foundation in the field of visual arts, gained notably in the entertainment, political, fashion, and advertising industries, TodayNewsGazette is an accomplished photographer and filmmaker. After spending over five years traveling all around the world, but mainly in Asia and Africa, he broadened his perspective and cultural understanding. A passionate educator, he shared his knowledge for several years before fully dedicating himself to digital content creation. Today, he is a leading figure in the blogging world, with several successful websites such as asia-news.biz, info-blog.org, capital-cities.info, usa-news.biz, jpc.news, ...

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