The very future of sports is changing rapidly right infront of our eyes. From the conventional styles of yester years to the latest hi-tech that is used for broadcasting sports today, is a proof of how rapidly evolving it is. According to a recent study by Juniper Research, it is predicted that sports teachnologies including professional sports wearables, in game monitoring and the rapidly developing E sports channels, will see an annual increase in budget, reaching almost $3.4 billion in the year 2023.
To measure the magnanimity of it, sports industry only spends $700 million in 2018. This opens up new vistas for startups and OTT players.
The research titled “The Future of Sports Content: Technologies, Broadcast Strategies and eSports 2018-2023,” has predicted that these new technologies will become a cohesive part of broadcasting and sports participation. The latest tech that provides real time player tracking along with live statistics and concussion monitoring devices that helps with player substitutions during game.
The research also suggested that sports wearable will earn around $2.6 billion by 2023, mostly because of its hardware sales.
Juniper encourages broadcasters to invest in latest tech to increase audience engagement. With AR, cognitive highlights and 360 degrees camera angles , it have become crucial for media channels to provide a more interactive experience for its audience.
The research also predicts that US broadcasters will lose contracts during the next two decades Juniper identifies MLB and NHL as the sports leagues which will have significant disruption from OTT rights purchases
As per research author Lauren Foye , “According to our analysis, Amazon would only require 1.7 million new Prime subscribers to pay for Turner’s current MLB rights package priced in the region of $3 billion for 8 years.”
Juniper Research is a research and analysis service company that offers its services to hi-tech communication centers providing consultancy, industry editorials and data analysis reports.