Ep. 46: Josh Walker - The Fluid Fan and the Future of Sports Business
Description
In this episode of "A Guy with a Scarf," Carlo de Marchis interviews Josh Walker from Sports Innovation Lab about the evolving landscape of sports fandom, data-driven decision making in sports, and the future of the industry.
Key Takeaways:
1️⃣ The Fluid Fan Concept
Sports Innovation Lab introduced the concept of the "fluid fan" to describe the changing nature of sports fandom. Walker defines a fluid fan as someone who is "open to change" and "empowered to choose" how they engage with sports content. "The fluid fan is open to change, which means that they are willing to watch a Premier League game, if they live in the US, they're Bundesliga fan and they're watching the NFL. They want to seek out new experiences."
2️⃣ Data-Driven Decision Making
Sports organizations are increasingly focusing on collecting first-party data to better understand their fans. "Even if viewership is going down or if it's staying flat, what they believe, and they're probably very right about this, is if they get a better picture of who their fans are, they'll have an asset in addition to their rights that is future proofing their business."
3️⃣ The Rise of Women's Sports
Walker highlights the growing demand for women's sports content and merchandise. "The whole women's sports angle in the US, the data that we put out three years ago said that fans were really eager to watch women's sports. We could see that." This trend is pushing up valuations of women's sports clubs and improving conditions for athletes.
4️⃣ Impact of NIL Rules in College Sports
The introduction of name, image, and likeness (NIL) rules has created new opportunities for college athletes and brands. "As an amateur athlete, you can get endorsements, you can be paid for playing your sport much before you're actually a pro. And that has changed the way that brands actually think about this opportunity."
5️⃣ Fragmentation of Media Rights
Major sports leagues are diversifying their media rights across multiple platforms. "Most of the fans that are really strong fans for one league or another, they are actually maintaining four to six different OTT streaming platforms. And that's very expensive."
6️⃣ The Future of Sports Viewing
Walker predicts more personalized viewing experiences. "We are going to have more and more personalized media opportunities. Meaning that you're going to see something very different than I'm going to see if I'm watching the same two teams."
7️⃣ Regional Differences in Fandom
The concept of fluid fandom may manifest differently across various geographies and cultures. "I think when you get into Europe, where these teams have been around 200 years, they've been playing forever in the local communities... I think that there's a much tighter sort of cultural and local and even societal connection to those teams than we do in the US."
8️⃣ The Enduring Appeal of Sports
Despite changes in fan behavior and media consumption, Walker remains optimistic about the future of sports. "I think it's ingrained in all of our cultures."
9️⃣ The Importance of Social Media for Athletes
Social media has created new opportunities for athletes to build their personal brands. "There's something we see with the younger athletes that when they're savvy on social media, this name, image and likeness thing is really an unlock for them."
🔟 The Evolution of Sports Innovation Lab
Walker explains how their focus has shifted to understanding fan behavior and providing data-driven insights. "We are now taking all of that and putting it in what we call the sports data cloud. And that cloud, it's become sort of like this universal 360 view of what fans actually buy, where they spend their time and their money."
The interview also touched on:
The potential for younger athletes to gain significant followings through social media.
Challenges for sports merchandise producers to keep up with demand, particularly in women's sports.
The impact of player transfers
The latest episode of "A Guy with a Scarf" featured an insightful conversation with Paola Marinone and Bengu Atamer from BuzzMyVideos, revealing significant shifts in YouTube's landscape and its growing importance in the connected TV space.
Key Takeaways:
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