Why Live Streaming Sports is Gaining Popularity? Step By Step Guide
Live streaming sports were uncommon on the “over the top” (OTT) platform. Major sports teams and leagues were holding out, forcing viewers to remain tethered to a cable subscription. With the changing time, live streaming events have created an enormous buzz in the market. Explore the article to find why live streaming sports has gained popularity: check the complete guide right here.
For years, entertainment, purchasing news, and sports together for cable packages remained the only way to watch the favorite team playing. The gamble is neither longer paying off, as around 1.3 million homes dropped satellite TV service or traditional cable in the second quarter of 2020. Meanwhile, OTT and streaming platforms have soared in popularity during the last few months.
Live streaming provides the sports industry to maintain revenue in a time when ticket sales to stadiums. It is a reality of a season to follow at all, which remains a question mark. Lockdown and quarantine did not minimize the need for live sports entertainment; moreover, broadcasters chose the void with digital-first channels. It is frequently evident that for all sports, live OTT content is a valuable path forward.
- 1 Statistics & Trends to Explore About Live Streaming
- 2 Why is Live Streaming Sports so Popular?
- 3 How Do Sports OTT Platforms Make Money?
- 4 Ending Up to OTT Sports Streaming
Statistics & Trends to Explore About Live Streaming
It is a busy few years for OTT sports streaming, whether you follow a local home team through the last season or cheered for the home country in the Winter Olympics or World Cup. Nowadays, most viewers are flocking to live streaming platforms. Super Bowl streaming audience in 2020 is forecasted to increase by 23%, which is 7.4 million up from the previous year.
According to a survey, the primary reason customers stuck with TV subscriptions. A paid subscription helps them to have access to things that viewers guess, including the sports channels. More than 82% of respondents agree that they would stop paying for the TV service if provided with live sporting events through other sources.
Why is Live Streaming Sports so Popular?
The media landscape is changing dramatically. Television dominates media for almost years and is losing ground rapidly to stream media services such as Amazon and Netflix. Likewise, top streaming media boxes including Apple TV, Chromecast, Roku, Amazon Fire TV, etc. It displaces traditional cable subscriptions in short cord-cutting in the TV content and video world as well. It has become more the norm in today’s digital era.
Sports have been a big component of television, addressing up almost 40% of all TV viewing. Nevertheless, professionals are noticing that the market is shifting. More sports organizations are streaming tournaments, games, competitions, and matches through the internet. Why? Both on-demand video streaming and live streaming solutions offer some significant advantages associated with traditional television broadcasts. Let’s have a close look right here.
Lower Barriers to Entry
Having a slot on broadcast television is difficult and expensive as well. It simply means that the most prominent brands can offer access to the traditional TV broadcast approach. On the other hand, live sports streaming does not involve competing for limited space on the airwaves; hence prices are lower.
The widespread syndication itself presents a different type of logistical challenges. It helps to reach a global audience with television broadcasts is completely difficult.
Some people worldwide even don’t have a TV. That said, smartphones and tablets are leapfrogging ahead and are becoming a widespread chain. Live streaming through the internet provides the ability to tap into a vast audience wherever that is on their devices.
Apart from the discussed point above, live streaming sports provide unique possibilities, especially in broadcast live sports events. For instance, some sporting brands are broadcasting multiple camera angles for the live game. It enables viewers to choose which vantage points they watch their favorite game from, giving them greater consumer control.
Ad-supported video on demand (AVOD), transactional video on demand (TVOD), or Pay per view (PPV) has always been a popular model. Live streaming pay-per-view (PPV) sports enables you to integrate the standard practice easily.
Shift to Scalable Live Sports Streaming
More people these days are “Cutting the Cord” or performing cable subscriptions. They prefer it because it makes it easier for them to move to an internet-based entertainment approach. The process is in progress for now, but it, however, represents the near future. Young people, these days are much more likely to subscribe to satellite or cable and are more likely to use streaming media services.
Increasingly, most brands are catching on live streaming as well. For example, Yahoo has started streaming a free Major League Baseball game every day during 2016. However, Twitter has followed and has grabbed the National Football League’s contract to live stream Thursday Night Football games.
High-speed 5G internet with HD and 4K resolution videos make live sports streaming a fantastic experience. It reduces the legal complexity and expense of negotiating contracts with multiple partners and distributors.
The liver streaming trend is clear; it is the future of entertainment and media. It involves the broadcasting of viewers’ favorite sports. The trend is still in its initial stage, but early adopters tend to reap numerous advantages. What are you waiting for? Charge yourself with full speed to enter into the end zone and begin with live streaming sports right away!
How Do Sports OTT Platforms Make Money?
From live sports to streaming, OTT platforms simply make money through subscription models. The three most common monetization models are transactional video on demand (TVOD), subscription video on demand (SVOD), and ad-supported video on demand (AVOD).
AVOD helps you to make money through an advertisement that takes place during the content. However, with SVOD, subscribers need to pay annual or monthly charges for unlimited access to streaming content. In contrast, TVOD is equivalent to pay per series model or pay per video model.
Ending Up to OTT Sports Streaming
Live OTT sports streaming is growing dramatically. About 1.3 million homes dropped traditional satellite TV services and traditional services in the second quarter of 2020. OTT platforms have gained massive popularity in the last few years.
Large broadcasters are not the only one who is profiting from live streaming. Niche sports channels are seeing success from a defined audience with specific interests. Live streaming enables you to personalize the content delivery and viewing experience as well.
Improving the ROI of live-streamed content is essential and will secure that your live streaming efforts are worth the time and efforts you invest in capturing it. The OTT sports streaming landscape is growing. Adding live sports to the streaming and content repertoire will get the OTT channel in the game.