Redefinition of market power in the sports industry
Did you ever think about your changing consumer behaviour and the way you watch sport?
Do your own check and think about the devices and channels you use to follow your dream team, to participate in the emotional moments of the Olympics, the Football World Cup or your favorite sport.
You will admit; The digitalization of the media landscape, technological innovation in communications technology, mobile communications market developments, as well as new smart devices are the driving forces of a complete reorientation of the sports industry.
This is above all due to the enormous number of direct consumers and the relatively short distances to them, which can be achieved through the digitalization, mobile communication and social media. It is now enormously much easier and faster to reach you as a consumer through numerous channels. The consumer power of sports is gigantic and it has experienced in the past decade a quiet revolution; we can see the probably strongest shift in market power from marketers to consumers.
This shift represents a completely new value chain sized and fitted with many innovative and novel elements throughout the sports industry; a re-definition of an entire economic sector. Clear that countless challenges have arisen, but above all an incredible amount of new market strategies, market players, business models, products and services that you did not even know 10 years ago shape a new image of a gigantic sport industry.
The influence and impact of this change are being felt at all levels of sports industry. In many areas, the new input to innovation especially in the area of technology and digitalization are creating a true chain reaction to new market opportunities and resources.
This redefinition of the market power of the sports industry has an incubator effect. The graph shows the three main market segments of the sport economy and major trends in the coming years. It is not surprising that almost all the trends are completely influenced by digital media options and social change. We are convinced that in the coming years and in this environment a large number of exciting business opportunities arise and that financing respectively innovative forms of financing will play a very significant role.