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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.