Maximizing Revenue in the Streaming Sports Industry
In today’s competitive streaming sports industry, there is a lot at stake for content providers and video service providers alike. The battle for content rights has become increasingly expensive, making it essential for businesses to find new strategies to limit risks and increase yield. In this blog post, we will explore how service providers can leverage their network infrastructure, collaborate with content providers, introduce targeted advertising, and utilize analytics to maximize revenue while prioritizing an exceptional user experience.
The Importance of Service Providers in the Streaming Sports Industry
Service providers have long recognized the value of offering video packages to their broadband customers. Video content, especially live sports, has proven to be a powerful tool in enhancing customer loyalty and reducing churn rates.
Modern service providers have evolved their offerings by aggregating over-the-top (OTT) video services, eliminating the need to purchase expensive content rights. By combining their networks’ strength with the best content available, service providers and content providers can form a winning partnership to deliver exceptional sporting experiences.
Broadpeak's Role in Enabling Collaboration
We play a crucial role in fostering collaboration between service providers and content providers. Our solutions allow for seamless integration within service provider networks, acting as the midfield that links the attacking side (content providers) and the defending side (service providers).
With tools designed with wholesale in mind, we offer innovative models where content providers can leverage infrastructure deployed inside service provider networks, such as CDN (Content Delivery Network) or multicast ABR (Adaptive Bitrate).
Case Study: DAZN and Telecom Italia Collaboration
A compelling example of successful collaboration is the partnership between OTT player DAZN and network provider Telecom Italia, who acquired the rights for Italy’s top football league, the Serie A, for a few years.
The Power of Targeted Advertising
In addition to subscription-based models, targeted advertising presents an opportunity to maximize revenue in the streaming sports industry. With advancements in streaming and Adaptive Bitrate (ABR) technology, introducing targeted advertising has become much easier compared to traditional broadcast methods.
Broadpeak’s Server Side Ad Insertion tool empowers the seamless integration of targeted ads into live streams across a wide range of devices, thereby unlocking fresh avenues for generating revenue. Our cutting-edge technology allows for efficient manipulation of manifests using multiple ad servers.
We also have more upcoming solutions in development, one of which includes Broadpeak Banner Ads. This innovative offering enhances the interactive and shoppable nature of ads, simplifying the purchasing process with just a few clicks.
Enhancing User Experience with Immersive Formats
A premium viewing experience, especially in sports, requires immersive and interactive formats that allow users to engage on multiple devices. Hoppr, an advocate for prioritizing the user experience, emphasizes the integration of monetization initiatives into the overall user experience.
According to Emilia Ong, Chief Revenue Officer at Hoppr:
At Hoppr, we believe that everything centers around the user experience. So first and foremost, with any monetization initiative is to ensure that it is integrated into and around the user experience.
When advertising in a premium environment, it is worthwhile to bear in mind that when advertising is done well, it is viewed as content. A targeted relevant ad tends to be much more appreciated by users. We can see that by the level of engagement that we get with these kinds of ad formats compared to non-targeted formats.
Another consideration for premium viewing experiences like sports are immersive and interactive formats. This allows the users to choose how they engage. Multidevice formats also work really well in this environment, where the users start to see experience on TV screen and continue to engage on a second screen.
Leveraging Analytics for Revenue Protection and Customer Insights:
In the advertising world, just like in sports, fraudulent activities can impact revenue streams. Analytics play a crucial role in preventing ad fraud by validating and utilizing streaming data to guarantee viewing accuracy.
Furthermore, analytics can support wholesale volume-based agreements by underpinning revenue calculations. By identifying trends and customers at risk of churning, analytics provides actionable insights to improve quality and address potential issues.
Let's tackle this industry head-on and score big with Broadpeak
In an industry where billions of dollars are at stake, service providers and content providers need to collaborate to maximize revenue while prioritizing the user experience.
By leveraging their networks, implementing targeted advertising strategies, and utilizing analytics, businesses can secure their revenue streams, enhance customer satisfaction, and unlock new opportunities in the streaming sports landscape.
Broadpeak can provide you with the best solutions. With the right tools and strategic partnerships, you will surely maximize revenue and enhance the user experience during your live sport streaming.
All in all, the winning game plan in the streaming sports industry involves seamlessly integrating monetization initiatives into the user experience and leveraging data analytics to secure revenues and trends.
