In our current media landscape, with consumers cutting the cord from traditional cable at ever-increasing rates, sports fans need no longer be tethered to broadcast schedules to catch up with sports-centric content. Live sports can quite literally be in the palm of their hand. This change in how live sports are consumed has certainly improved revenue opportunities in the sports business landscape.
A Deloitte survey shows sports fans spend three times more than other content consumers. Sports remains one of the few streaming genres consumed live, offering a wealth of fan behavioral data.
OTT platforms can leverage this behavioral data toward an improved sports viewing experience, enhancing fan satisfaction and overall business profitability. Subscriber analytics, the study of subscriber preference data or, more simply put, using data to better understand customer choices, plays a vital role in the growth of OTT sports as an industry.
The sports streaming space is driven by how fans consume sports-centric content and perceive likeability. According to a Deloitte Fan Engagement Survey, approximately 45% of sports fans consume more than 6 hours of weekly streaming content. The survey further notes that for nearly half of that group, the weekly consumption is at least 6 hours from an individual league. This indicates the potency of subscriber analytics to deliver insights into fan consumption habits as granular as the amount of time spent, the geographic region, and the specific sports league(s).
Such findings demonstrate that the sports viewing experience has undergone a paradigm shift regarding the setup, market, and execution logistics. All of this is because of the increasing need for convenience in content consumption. With the right platform capabilities, sports streaming businesses can access real-time data, understand consumer trends, and derive potential - and actionable - insights toward developing promotional campaigns that resonate with customer choices.
There’s no question that subscriber analytics is a true game-changer for several facets of a sports streaming business. If you still need convincing, consider the following:
- Well-analyzed subscriber data sets exponentially improve return on investment, as streaming businesses can access critical customer preferences to plan their content catalog accordingly.
- Subscriber data improves fan engagement significantly, with sports streaming platforms communicating more effectively than ever before. Additionally, businesses gain the insight needed to tap new geographical markets.
- Fans crave in-game analytics. With improved video quality and advanced video analytics, fans are served up keen insights for any and every live sporting event worldwide.
- Subscriber analytics elevate the platform experience and enable OTT sports platforms to better envision, plan, and execute every customer touchpoint based on behavioral insights from fan data.
The Evergent Monetization Platform (EMP) transforms your platform functionality with intelligence derived from subscriber insights. You’ll be aware of specific customer needs by analyzing niche and unique subscriber data points. With EMP, you are empowered with the following capabilities:
- Make data-driven decisions with standardized reports and dashboards developed from real-time subscription and payment data, financial performance, and more.
- Update your product catalog according to subscriber preferences by identifying your subscribers’ drawing cards.
- Drive promotional campaigns to measure the performance of those campaigns with subscriber feedback data and afterward understand the campaign reception.
- Enhance platform performance with aggregated subscriber metrics and offer a superior user experience, improving customer retention significantly.
Leverage EMP’s subscriber intelligence to fuel your growth trajectory powered by data-driven insights. Book a call with our team of experts to learn more.