The world of sports is constantly changing. With technology rapidly gaining momentum, demographic changes, and consumer habits, it is crucial to adapt quickly to new trends.
From traditional to non-traditional sports
Over the past few years, traditional sports such as football, baseball, hockey, and soccer have seen a steady decline in participation. This is mainly due to demographic changes. The new Generation Z is less interested in traditional sports. These sports take up too much of their time, are boring for most of them, and don’t show enough personality. Therefore, non-traditional sports such as adventure sports, e-sports and spin-offs of existing sports are currently growing faster than traditional sports.
Globalization
Going global will become increasingly important! Global audience, global fans, global leagues, global media! Today, everyone and everything is connected! The world is at your fingertips, and borders are no longer visible. Many people can work wherever they want. Covid 19 has already given rise to work from home, which is here to stay! That means the fan is everywhere! At the same time, the world of sports is also rapidly globalizing. Whether you look at the Champions League, Formula 1 or golf, all major sports have gone global. Today, even celebrity is global, whether your name is Max Verstappen or Lionel Messi!
Esports is becoming more and more popular
Esports have come to the fore with a bang and are here to stay! They are quickly becoming a huge industry. For those of you living in a cave, eSports are multiplayer video games that are played in front of an audience. They are usually played by professional gamers, called esports players.
Blockchain will become a part of life
Many people associate blockchain with cryptocurrencies, but blockchain is much more than that. It will enter the sports arena sooner rather than later. In simple terms, blockchain is a technology that allows you and me to transact on the network without the help of an intermediary. Your transaction will be secure, transparent, and stored as a record of what happened.
Fan engagement will become a battleground
Fan engagement will be crucial for clubs, athletes, and federations to come out on top. Fans are the reason these groups exist, especially because they represent a large revenue stream, and clubs and federations are frantically looking for alternative revenues now that Covid has reduced audiences. Outside the arena, it will be as much of a battlefield as it is inside. It’s all about getting that extra dollar and realizing that all-important last percentage. Size, disruption, and first-mover advantage count! Expect digital tools to play an important role in this!
