Last week, Madrid emerged as the epicentre of the sports business world, hosting the prestigious SportsPro OTT 2023. This key gathering in the sports industry calendar bridged connections among attendees, all keenly focused on the future of sports media. It served as a nexus for learning and engagement. Our team was present, gaining the opportunity to engage in some of the most enlightening panel discussions and to collect invaluable insights about the industry’s direction.

Among the inspiring sessions we attended were panels addressing recent pivotal moments in the global sports industry. The discussion on ‘Building platforms, with RugbyPass TV’ was particularly noteworthy. Experts discussed the 2023 Rugby World Cup’s dedicated platform, underscoring its role as a model for developing services that captivate rugby fans worldwide with compelling content.

Reflecting on the event, a standout session was ‘Monetisation masterclass: what approach is right for your business?’ In this dynamic forum, industry leaders, including Matthew Primack, SVP – International Business Development at Fanatics, shared critical insights. They focused on three key areas essential for monetizing sports media: gamification, fan engagement, and advertising. Primack stressed the need to extend social content beyond traditional social media platforms, emphasizing the role of sports-related lifestyles in attracting a global fanbase.

Highlighting the successful collaboration between PSG and South Korea, Primack illustrated the importance of crafting global services with a local touch. This strategy not only enhances fan engagement but also establishes a financially robust model for businesses.

One of the event’s prominent topics was soccer’s innovative engagement with the next generation of sports fans. Diverse business representatives, ranging from Snapchat and Saudi club Al Nassr to social media influencer Jeremy Lynch, with over 5 million followers, delved into how soccer is evolving to captivate newer fan demographics effectively.

Going direct: how soccer is approaching D2C

The conversation on Direct-To-Consumer (D2C) strategies explored various goals, from gathering first-party data and insights to boosting commercial revenues. A central debate emerged: What should be the primary focus for sports entities – revenue generation or data accumulation? This remains a provocative question, challenging the traditional paradigms of the sports industry.

Another notable session, ‘Connecting Fans through Gamification’, featured representatives from the Premier League, Sorare, and FC Barcelona. They discussed collaborative possibilities in projects such as fantasy games, highlighting the return on investment from fan registrations and the significance of partnerships that transcend team affiliations. The unique collaboration between FC Barcelona, Spotify, and The Rolling Stones served as an exemplary case, demonstrating the success potential of such innovative initiatives.

How tech is transforming sports consumption

The final panel emphasized the transformative impact of technology on sports content consumption. With fans increasingly seeking authenticity and adaptability, Xabier Green of ScorePlay highlighted the importance for businesses to listen to their audience and evolve their strategies accordingly.

In conclusion, SportsPro Madrid 2023 brought together an enlightening platform where industry experts shared invaluable insights into the ever-evolving sports business. With technology acting as the driving force of these changes, the future of sports media and fan engagement looks poised for a transformative journey.