The Future of Sports Media
It’s no secret that technology has led to unmatched opportunities for industry growth across the sports value chain. From boosting fan engagement to optimizing digital content usage, sports organizations have been driving innovation long before the pandemic hit. The main difference between then and now is that these same organizations have switched focus to sustainability of internal processes, now opting for more autonomous, in-house innovation vs. external agency and freelance work.
According to Deloitte’s recent report Navigating Digital Change in the Sports Industry, digital transformation lends heavily to the following 4 objectives:
1) Expanding content reach
2) Enhancing the fan experience
3) Generating new revenue streams
4) Engaging sponsors
Looking at all of the opportunities listed above, perhaps the most interesting component from a business perspective is new revenue creation.
Diversifying Revenue Streams Starts with Content Monetization
According to a recent PwC Sports Survey 2020, one of the top ways to diversify new revenue streams is through the monetization of digital assets and innovation related to media rights distribution.
In fact, there are 3 KPIs associated with tracking digital asset commercialization, including:
Percent of Inventory Commercialization – Leverage technology to associate brands with digital content, increasing commercial impact.
Percent of Meaningful Engagement – By adopting a solid content strategy and achieving the successful creation and management of this content, organizations can increase meaningful engagement on social channels.
Fan Reach – Provide engaging and relevant content for your audiences to grow fan bases.
So taking all three elements into account, the question becomes:
How are sports organizations achieving these objectives?
The answer is simple: to increase the commercial impact of digital content, new and advanced media valorization technology is required.
The Rise of In-house Sports Media Hubs
A Sports Media Hub is a place where marketing, production and business development teams can work together in harmony to organize and further valorize their organization’s content in a secure and collaborative cloud-based workspace.
As Big Data continues to dominate strategic oversight, the opportunity for monetization also exists. With new revenue creation top of mind in the industry, many sports organizations are revving up interest in media valorization and resale.
This is the latest trend in enhancing sports club business models with native and centralized content resale and production solutions. Not only do Sports Media Hubs promote cost effectiveness by allowing for in-house asset management and post-production, but they also allow for easy access, and commercialization of proprietary content.
For the most part, a majority of sports organizations already have some sort of media hub, but in order to maximize content valorization and generate new revenue streams, game changing technology is required. That’s where the Multimodal AI comes into play.
Newsbridge AI-powered Media Hub for In-House Adoption
With Newsbridge’s AI-powered media valorization platform, searching for, logging and selling content has never been easier, and more autonomous for teams. By uploading media assets to the cloud-native platform, users’ content is automatically indexed via multimodal indexing AI technology, leveraging time-stamped metadata.
This creates a more advanced search and retrieval experience. Using a semantic search engine that can cross analyze multiple auto-indexed elements, i.e. people, objects, speech to text, logos, context etc, users are able to search for multilayered moments, in seconds, possessing an in-depth precision of recently uploaded or incoming live media. In this way, exact and meaningful sequences (i.e. @Antoine Griezmann, #FFF, #EDF) can be found and published in record time.
At the same time, the platform offers a Content Monetization portal that allows for the showcases and resale of existing media assets,organized into enriched and customizable collections based on metadata, powered by Multimodal AI. Via an unprecedented Clip & Collect experience, content buyers all over the world have the ability to search, find and purchase available extracts.
Newsbridge is a cloud-based platform for next gen media valorization offering Multimodal Indexing via Artificial Intelligence (AI).
Taking into account facial, object and scene recognition with audio transcription and semantic context, Newsbridge provides unprecedented access to content. Whether it be media logging, archiving, monetizing, or investigative research- the solution allows for smart media asset management.
As a platform fully equipped to provide Major Sports Federations with a full-service MAM, some of our customers include: The French Football Federation (FFF), The French Rugby Federation (FFR) and Olympique de Marseille (OM) just to name a few.
For all related inquiries please contact us here.