LSTN Webinar Series Wrap Up

Teams are in Retention, not Acquisition mode

Lenka kicked us off diving into the rapid shift sporting teams are undertaking as they focus on Retention, not Acquisition. Traditionally sporting clubs are looking to grow their existing fan base through acquiring a larger audience but since COVID19 many organisations are instead opting to strengthen their ties to existing fan bases. Simply put, consolidation is on the cards as teams recognise their core offering has fallen to the wayside.

“This isn’t an offseason; fans are still hungry and have an expectation to be served”

There’s a dramatic difference between the off-season and the situation we’re experiencing today. There’s a lot to look forward to at the end of a traditional season; even if built around the hope next season will be better. Many leagues will even have off-season transfers underway before all competitions have concluded.

What's Changed? Competition

Sports content has always been in direct competition with gaming as well as written, audio and video streaming services, but each of these industries has benefitted in the short term from COVID19. Twitch saw its hours watched jump 50% between March and April and a full 101% YOY. This is not to say these industries won’t have their own challenges with COVID19 but they haven’t faced the shift seen in traditional sports.

What's Been Tried so Far?

Legacy Content: One area rights holders have been exploring is the use of legacy content, something validated by the success of Michael Jordan’s Last Dance Documentary.

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Chris Knight

Chris Knight

Property, Fitness and Crypto, 28, London