Published on TV Technology, By Sam Kamel. Read more here: Learn how to monetize sports streaming effectively
Distribution channels like apps, FAST channels have become crucial components of the playbook
In today’s rapidly evolving sports media landscape, delivering engaging content across multiple platforms while maximizing revenue is more crucial than ever. The sports streaming industry is undergoing significant transformations, and thriving in this dynamic environment hinges on the strategic use of cutting-edge technology.
Sports-media companies must excel in all key phases—content creation, distribution and monetization—to avoid leaving substantial revenue opportunities on the table. Leveraging dedicated apps and Free Ad-Supported Streaming Television (FAST) platforms alongside streamlined content management can unlock full revenue potential.
Direct Engagement Through Apps: A Vital Revenue Stream
Dedicated apps have become essential tools for sports media companies, offering more than just a distribution channel. These apps enable live streaming of games and provide instant access to highlights and clips, creating direct engagement with fans. Push notifications keep users updated in real time, fostering frequent app use and deepening fan loyalty.
Monetization strategies for these apps can vary. Subscription models attract dedicated fans seeking premium content, while ad-supported options cater to casual viewers who prefer free access in exchange for ads. Understanding the fanbase is crucial; tailoring the app’s monetization strategy to different audience segments ensures maximum profitability.
Continually offering fresh content strengthens relationships with content-hungry consumers, driving both engagement and revenue. – Sam Kamel, CEO, Bitcentral
In-app purchases of additional features or merchandise offer another revenue stream. For instance, NBA League Pass, an out-of-market games package that set multiplatform records in 2023, provides not just live games but enhanced features like stats and analysis. Continually offering fresh content strengthens relationships with content-hungry consumers, driving both engagement and revenue.
Broaden Your Reach With FAST
FAST channels offer a flexible monetization opportunity, reaching wider audiences without subscription fees. Advertising on FAST platforms is about precision as much as volume. By analyzing viewer data, sports media companies can serve targeted ads that resonate with specific user preferences, enhancing the viewing experience and maximizing ad revenue.
FAST channels can also repurpose existing content, such as highlights and replays, to capture additional value. According to YouGov’s Sports Whitepaper, 36% of global sports fans prefer watching full games live, while 25% actively seek short clips and highlights. Repackaging content allows sports channels to tap into this demand efficiently, opening up new revenue streams without the cost of creating new content.
Streamlining Content Management for Maximum Efficiency
Efficient content management is crucial for successful sports content monetization. A robust Content Management System (CMS) helps media companies capitalize on opportunities by streamlining distribution and automating repetitive tasks.
However, the Content Marketing Institute reports that 42% of companies lack the technology needed for effective content management. In a market with increasing demand for streaming content, investing in scalable, cloud-based CMS solutions is essential. Automation of repetitive tasks not only eliminates bottlenecks but also optimizes monetization efforts.
In conclusion, to thrive in the competitive sports streaming market, companies must strategically utilize dedicated apps, FAST platforms, and efficient content management. By doing so, they can fully capitalize on revenue opportunities and stay ahead in the dynamic sports media landscape.
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