How Sports Business Looks in Summer 2020: Industry Insights from the Hashtag Sports Virtual Conference

The sports and social media world is not afraid of change. The social platforms and the sports industry as a whole are constantly evolving, but it’s been a few years since something really transformational has happened in the biz.

After hearing several industry leaders discuss their strategies, insights, and observations about the current state of the sports business, social media, sponsorship, and fan engagement at the recent Hashtag Sports conference, it seems there could be paradigm changes coming out of the stay-at-home period from the pandemic.

Many athletes have seen the light of social media, corporate partnerships have been reimagined in a world without games, everybody has taken a closer look at esports, the social platforms themselves were utilized in different ways, and all the digital and social engagement has only reinforced the pathways of data collection to personalization.

Athletes

  • When the games stopped, fans’ desire to see and engage with athletes certainly did not. Yahoo Sports’s Sarah Crennan said she would’ve liked to have had more working relationships with athletes with whom to co-create content. Meanwhile, NBC Sports’s Lyndsay Signor noted that the move to mobile productions and all remote appearances meant working on content with athletes was less challenging than it had been pre-pandemic. What could this mean moving forward? Will sports media businesses make it a point to establish relationships with athletes, even after the stay-at-home orders are lifted and sports return in some form? And will media companies be more comfortable connecting with an athlete via his/her phone even if it’s not as polished as their more produced content?

 

  • Many athletes during the pandemic posted first-person content on social media for the first time, or participated in live or mobile interviews. Coming out of this quarantine, many more athletes will be comfortable creating their own content, according to Bleacher Report’s Beckley Mason. Adding to that insight, Colleen Garrity of Excel Management pointed out that a lot of athletes tried and learned new things during this period, whether that was jumping on IG Live for the first time or streaming on Twitch. They’ll now have those abilities in their back pocket. When athletes are serving as their own directors and producers, it won’t be perfect, but that’s okay, and fans, publishers, and partners will learn to value it, said B/R’s Mason. It’s more authentic that way, anyway.

Content production

  • Sponsors may have been skeptical at first of seeing their dollars and branding go into content that looked less-than-polished. But numbers and performance don’t lie and as more results come in, less-produced content can prove its value. And it has and will continue to, suggested Bleacher Report’s Beckley Mason. The new normal that has prevailed for the past several months, when more amateur-looking content was not just tolerated but welcomed, means brands can be more nimble and more open to experimentation, according to Octagon’s Meredith Kinsman. When they’re not spending a ton on an on-location shoot with a full crew, there’s less risk involved and more creative trialing possible.

 

  • Social media managers working for teams or leagues have recognized the value of raw content captured on mobile devices for years. But even while COVID forced a lot more original content to be less-produced, especially involving coaches and athletes, there remains a place for both produced content and raw content. This point was reinforced by Oregon State’s Kylie Murphy, who noted there’s time and place for both, and it can depend on context, listening to the data, considering the platform, and learning by trial and error.

 

  • It’s an understatement to say the last few months have been the golden era of archived content on social media. Twenty years ago, even ten years ago, a lot of archived content may have been stuck on VHS tapes and DVD’s. But digitization has made it easier to access, produce from, and use to engage fans across platforms. There has proven to be a lot of potential, and maybe more to come, with historical content, said Octagon’s Kinsman, and this sports hiatus has only reinforced that value proposition.

 

  • Meanwhile, a company like Overtime has been able to double-down on its original content efforts in the absence of live sports. The mobile-first sports media company has seen more and more content consumption happening for longer average sessions. They’ve also seen a lot of YouTube viewing happening on smart TV’s and larger screens, not confined to merely mobile devices. Fans are willing to binge sports content, just like they are a series on Netflix or Hulu, and there’s an opportunity for sports to earn more and more of that screen time outside of live games.

Sponsorship

  • The coronavirus pandemic along with the period of social unrest catalyzed by the murder of George Floyd has obligated every brand to prove themselves worthy of consumers, to show they are adding value to society at such a challenging time. This applies to sports-related sponsorships, too, where partnerships are being scrutinized to ensure authenticity more than ever. Rakuten’s Kristen Gambetta talked about wanting to make sure players with whom they partner are aligned with their values, while Dairy Management International’s Darcy Nichols, who oversees the company’s NFL sponsorship, said they look at players’s social media posts to make sure they represent a brand with whom they want to partner. Nichols also noted she wants players who aren’t just going through the motions, but those who actively believe in the message and brand they’re endorsing, and want to be there.

 

  • Dairy Management International’s Nichols also reiterated a prevailing point in sponsorship — that the operative term is ‘partnership;’ it shouldn’t be a transactional relationship between brand and league/team/athlete. Wasserman’s Anup Daji made a similar point stating that the best partnerships include those in which both parties accomplish objectives. Rakuten’s Gambetta gave a good example of this in action, describing the e-commerce brand’s activation with the Golden State Warriors. Rakuten and the Warriors offered fans cash back when they purchased merchandise at games, in partnership with Rakuten, who promotes their own cash back system for purchases made on their online shopping platform.

 

  • With no live events with which to activate, any and all sponsorships in sports became digital and social-focused. This only increases the value for a publisher like Bleacher Report, suggested Mason, as they can help a brand activate around a major sports event with a social-first campaign. And they can do it even if neither is participating as an official rights holder or partner.

 

  • Social media is less a throw-in these days compared to years past and partners now expect a campaign to be activated across channels. The New York Giants’ Katie Carew described this framework, offering the team’s activation with Stop and Shop as an example. It included physical and digital elements and resulted in content coming out of the campaign to allow for an effective social extension. AT&T’s Shiz Suzuki described her company’s viral ‘Pose with the Pros’ augmented reality onsite activation with the Dallas Cowboys at AT&T Stadium, which provided not just a demonstration of their 5G technology, but also produced socially share-able content.

hashtag-2020


Esports and gambling

  • 2020 was supposed to be the year that sports gambling saw massive growth in the US. It still can be, but it perhaps won’t reach the peaks once projected. As sports brands look to capitalize on gambling, they’re increasingly cognizant of the best way to ease fans into becoming bettors. Prop betting seems to be an answer, with Bleacher Report’s Stefanie Rapp identifying prop betting as an entry point for sports betting. B/R has seen huge growth the last several months in its betting content, too, with its betting stream content in the B/R app growing 300% faster than any of their other streams. Fans that engage in this content and sports betting, in general, have stronger retention metrics, too.

 

  • While many continue to eye gaming as an opportunity, the pandemic led to more interest than ever in esports, which were only mildly affected by the public health crisis. Turner/ELEAGUE’S Seth Ladetsky recognized the opportunity for esports, especially when their competitions get airtime on linear TV. An important consideration, he said, as esports looks to capitalize on these opportunities is to recognize the audience and the platform, and produce a presentation that is optimized for each. Because an avid esports audience is different from the casual and curious community checking it out.

 

  • More sponsors started to gravitate to esports, too, seeing an opportunity to reach and engage fans viewing live events. ESL’s Paul Brewer said the most common way brands are measuring their esports sponsorships now are brand sentiment and share of voice. Brands are still learning the space and AT&T’s Suzuki noted how important it is to do the research of the fan base first and to always be thinking of how a sponsorship can produce additive value for esports fans. Brewer also pointed out how esports is starting to also look for ways it can mimic the traditional sports sponsorship activations menu to which brands are accustomed, such as corporate hospitality and experiential opportunities.

Platforms

  • It’s no secret that TikTok has enjoyed explosive growth across the board during this stay-at-home period, including sports, athletes, and sports fans gravitating more and more to the social network. TikTok’s Harish Sharma presented the platform’s POV when it comes to sports, suggesting that TikTok is a place for teams and athletes to share about themselves away from the field. Sharma also recommended activating around ‘exclusive moments’ and ‘seminal moments.’

 

  • Facebook facilitated and even unveiled a lot of new features or behaviors and opportunities on its platforms during this period. They’ve long been focused on developing Groups and this feature remains a strong and growing part of the platform. Facebook Sports’ Nick Marquez talked about the engagement and data collection potential with Groups. He also lent a little inspiration calling Group members potential ‘ambassadors’ for the brand.

 

  • Facebook (as well as Instagram) saw a lot of creative usage of its Live capability, including archived content and virtual watch parties, during the sports shutdown. Digital-first content overall picked up by necessity, with no live games and accompanying highlights, and in their place Marquez pointed out how sports teams have been able to build up digital content franchises that then become valuable sponsorship assets and entitlement opportunities. Sports teams and leagues are digital publishers, Marquez said, that happen to play sports. He also enumerated four buckets of content where sports found a lot of success during the shutdown, including archive (as noted above), fitness, cooking, and gaming. One last feature to keep an eye on are Facebook Messenger Rooms, a product many saw as an answer to the usage of Zoom during the pandemic for social interacting.

 

  • Instagram has also been an essential part of sports organizations’ fan engagement strategies for the last few game-less months. Usage of IG Live has grown a lot — in case you somehow haven’t noticed — and Instagram has been working with sports organizations on monetizing the platform. Instagram Sports’s Will Yoder identified three ways sports biz has been monetizing IG: Branded content (which is treated the same as organic content in their feed algorithm, Yoder noted), shoppable posts, and Instagram ads, including direct response ads.

Analytics

  • The NBA’s Jorge Urrutia del Pozo talked about their efforts to build a ‘golden record’ for each fan, by collecting data strategically. The key concerns for them are a) utilizing data to deepen fan engagement and b) determine the next best action or step for each fan to take to drive optimized lifetime value.

 

  • Both the NBA’s Urrutia del Pozo and the NHL’s Heidi Browning noted that collecting fan data has to deliver value back for the fan. The NBA collects information from fans progressively, delivering something back to fans at each step; this so-called ‘zero party data’ is valuable for the league in its efforts to personalize and enhance fan experiences. The NHL’s Browning called out the league’s ‘learning campaigns,’ which similarly asked fans for information while delivering tangible value back to the fan at each step. That exchange of value is vital.

 

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The past few months have felt like a year passing and the sports industry has evolved at a similar rate. Thanks to Hashtag Sports for putting on a great event! Subscribe to their newsletter, follow them on social media, and attend their future events.

Episode 135 Snippets: Keith Stoeckeler Goes Deep on Digital, Social, Sports, Structure, and…Burgers

On episode 135 of the Digital and Social Media Sports Podcast, Neil chatted with Keith Stoeckeler, Vice President and Group Director, Digital, at MKTG.

What follows are some snippets from the episode. Click Here to listen to the full episode or check it out and subscribe in iTunes or Stitcher.

Discovery, Visualization, and Activation: Building a Data Strategy for Sports Marketers

On episode 132 of the Digital and Social Media Sports Podcast, Neil chatted with Jim Hanauer, head of Hanauer Strategies, previously with Ole Miss Athletics (now a Hanauer Strategies client, among others).

What follows are some snippets from the episode. Click Here to listen to the full episode or check it out and subscribe in iTunes or Stitcher.

SEAT Dallas Twitter Recap

In July 2018, the Sports and Entertainment Alliance in Technology (SEAT) held its annual conference, this year in Dallas. The events brings together thought leaders from throughout the industries to discuss the trends of the day and learn from each other.

What follows is a collection of the best quotes, insights, images, and observations shared via Twitter #SEATDallas from the event. Thanks to everyone whose tweets helped fuel this recap and to SEAT for always putting together a phenomenal event!

STN Digital’s Kris Koivisto on Content, Voice, Brand, and Goals in Social Media and Sports

On episode 123 of the Digital and Social Media Sports Podcast, Neil chatted with Kris Koivisto, Senior Director of Accounts for STN Digital.

What follows are some snippets from the episode. Click Here to listen to the full episode or check it out and subscribe in iTunes or Stitcher.

Posted by Neil Horowitz

Follow me on Twitter @njh287 Connect on LinkedIn

Paul Dewhurst and the MLS’s San Jose Earthquakes are building a brand and driving social and digital ROI

On episode 117 of the Digital and Social Media Sports Podcast, Neil chatted with Paul Dewhurst, Digital Marketing Strategist for the San Jose Earthquakes MLS club.

What follows are some snippets from the episode. Click Here to listen to the full episode or check it out and subscribe in iTunes or Stitcher.

Posted by Neil Horowitz

Follow me on Twitter @njh287 Connect on LinkedIn

Sloan Sports and Analytics Conference 2018: Day 2 Twitter Recap

In February 2018, the annual Sloan Sports and Analytics Conference, bringing together thought leaders from throughout sports business and analytics to discuss the topics of the day.

What follows is a collection of the best quotes, images, insights, and observations [business-focused] shared via Twitter on #SSAC18 from day 2 of the event.

Thanks to all those whose tweets helped fuel this recap! Be sure to also check out the day 1 recap.

Sloan Sports and Analytics Conference 2018: Day 1 Twitter Recap

In February 2018, the annual Sloan Sports and Analytics Conference, bringing together thought leaders from throughout sports business and analytics to discuss the topics of the day.

What follows is a collection of the best quotes, images, insights, and observations shared via Twitter on #SSAC18 from day 1 of the event.

Thanks to all those whose tweets helped fuel this recap!

In the Social Media Game, the Most Important Competition is Yourself

The gym is an interesting place. There’s people of all shapes and sizes utilizing a vast variety of routines and techniques often with different goals in mind. Some are trying to lift the heaviest weight each time, some are trying to burn the most calories, to build the biggest muscle, and so forth.

And yet we can’t help but compare. Can’t help sizing up the person on the bench next to you and taking it as a challenge to outperform him or her. But is it fair to compare unless each person in this scenario are the same size? Are their objectives the same? Is this habit of comparison, to try and best the biggest and strongest in the room, the best road to success?

The gym analogy works well to describe the varying challenges of what it means to succeed in social media. When leagues often inform their teams of where they stand in the rankings across a number of team digital and social media metrics, it can be easy to get lured into obsessing over where your team stands. And it can get even more difficult to avoid it when leadership joins the fray, thinking they can win the championship of social media as easily as they can the league title.

But not every team is a 6’5″, 300 lb. behemoth. When dealing with gross metrics, follower sizes, website traffic, video starts, et al. – it’s not a fair fight and it’s not a worthwhile  comparison for either side. And yet, just like FS1 wants to beat ESPN, it can sometimes be hard to get away from these lists.

It’s not so black and white, however. Even those atop the rankings may not be ‘winning’ in a traditional sense. They may not have a strong brand, an engaged audience, a graph of their metrics on an upward trajectory. The most important benchmark is your team’s stats last month, last week, last year.

That’s not to say benchmarking against one’s (relative) peers is a bad thing. There was an interesting Twitter exchange recently in which some respected pros in the space lent opinions on this topic. Of benchmarking, the well-respected Senior Director of Social Media Strategy for the New York Yankees said it can be “extremely motivating when done right, and extremely chaotic when done wrong.”

If it’s done in alignment with the organization’s goals, that allows them to not just maintain but strengthen their brand and their affinity of their fan base — a desire to move up the rankings can lead to greater investment and resources.

But even then it’s important to mind the metrics that matter most. It’s not easy to measure, of course, but it’s not impossible to develop meaningful metrics that  can be shown to drive the fans and the brand, that contribute to the bottom line. Those are rankings that are harder to come by, but those are the ones teams should value the most, vanity be damned.

This is all easier said than done, of course. And it takes evolution across the board, most importantly from the leadership up top. Because for generations it was fairly black and white; we didn’t know better nor could we measure better. But defining success is more a science than an art these days, social media and sports is growing up. Pat Muldowney, Director of Social Content for The Ringer, who previously spent several years in social media for FOX Sports, summed it up perfectly.

 

“Most of the requests for this type of [rankings/vanity metrics] reporting come from a level of leadership that’s familiar with ratings or traffic as barometers for success,” said Muldowney. “Instead of ‘Are we succeeding?’ it’s ‘Are we winning?’ Hopefully this will evolve over time.”

So we return to our gym rat, who now realizes everyone in the gym may be defining success that day in a different way. They’re all out to get better every day, to achieve a level of health and fitness, but they’re not all chasing the same numbers. They’re trying to succeed themselves, not trying to win the weight room. Their only benchmark is themselves.

 

You can see much of the original Twitter thread here