“There’s going to be more change over the next five years than we’ve seen in the entire history of this industry, which is why this is an incredibly exciting time for all of us,” NBA Commissioner Adam Silver said. NBA Commissioner Adam Silver spoke to thought leaders in sports. , executives, athletes, media personalities, team owners, and students who attended the inaugural USC Next Level Sports Conference.
The conference, hosted by Willow Bay USC Annenberg Dean, USC Marshall Dean Jeffrey Garrett, and Bloomberg Chief Correspondent Jason Kelly, included Silver, four-time NBA champion Andre Iguodala, It featured ESPN Chairman Jimmy Pitaro and an all-star list of speakers, including USC. Basketball star JuJu Watkins.
The daylong program at Intuit Dome drew nearly 500 attendees and focused on what happens at the intersection of sports, media, business, technology, fan engagement, and storytelling.
Here are key takeaways from the October 17th conference:
The growth of sports as an asset class
Tony Ressler, owner of the Atlanta Hawks and co-founder and executive chairman of Ares Management Corporation, said: “I think this is a huge asset class that the market needs to fully appreciate…the world. “Whether it’s a $2 trillion, $2.5 trillion or $3 trillion asset class.”
Expanding media rights (particularly global rights), new monetization models (such as the rise of sports betting and the potential for personalized fan experiences), and increased investment from private equity firms looking to capitalize on the industry’s potential. We are driving growth across the industry.
Monarch Collective Managing Partner Jasmine Robinson said women’s sport is the biggest investment opportunity in the sports ecosystem, with accelerated growth and potentially higher returns in the coming years. I expect it to be possible. He pointed out that while the valuation of women’s sports is rising rapidly, the revenue multiple is still relatively low compared to men’s sports.
From consumer to community
Fandom is evolving beyond passive consumption to active participation and a sense of community that emphasizes the importance of building relationships and fostering a sense of belonging among fans.
Kevin Demoff, president of the Los Angeles Rams and director of team and media operations for Kroenke Sports & Entertainment, said fans are integrated into Rams operations through social media and other platforms and provide real-time feedback. , said he is participating in two activities. A two-way conversation with your organization.
fans get personal
Modern sports fans are more discerning and expect personalized experiences. Technology plays a key role in meeting these evolving expectations, allowing fans to engage with content on their own terms and access information and features that enhance their viewing experience.
ESPN Chairman Jimmy Pitaro highlighted initiatives such as personalized sports feeds, real-time statistics and interactive features that meet the evolving demands of today’s viewers.
Thanks to technology, fans are able to choose the content they consume, bypassing traditional gatekeepers and increasing interest in traditionally underserved areas such as women’s sports. This shift in dynamics has allowed fans to engage directly with athletes and content, facilitating a more personalized and interactive fan experience.
Gen Z’s future vision
Gen Z’s embrace of technology, demands for authenticity, and commitment to social responsibility are reshaping the sports landscape, requiring a more personalized, holistic and purpose-driven approach.
“Right now, fans want to consume what they believe in, what they understand, what they respect,” said WNBA All-Star and ESPN host Chiney Ogwumike. “It’s not just hot takes or clickbait.”
Gen Z’s desire for a more fair and inclusive sports environment reflects a desire to break down barriers and challenge traditional notions of who excels in sports, with leagues and organizations that showcase a variety of talent and perspectives. I’m attracted to
league of its own
Jasmine Robinson, Managing Partner of Monarch Collective, said: That’s the moment. ”
The power of fans is pushing for greater investment and media coverage of women’s sports. This surge in support is critical to creating sustainable markets and countering historic inequalities in resource allocation. Collective action from athletes, sponsors and media partners is essential to sustaining the momentum of women’s sports and ensuring that women’s sports receive the recognition and support they deserve.
Jessica Gelman, CEO of Craft Analytics Group, pointed to the role of data in attracting investment in women’s sports. A historical lack of data on performance in women’s leagues hinders their ability to marshal resources and unleash the talent of their athletes. Improving data collection and analysis in women’s sport is critical to demonstrating its value and securing greater investment.
“It’s all about ownership.”
Athletes are leveraging their brands and influence to invest in and partner with companies, especially in the technology sector. They are also taking charge of their own IP and using new platforms to connect with fans.
“The beauty of the media business and the sports business, as it epitomizes, is that it’s always about growth,” said Maverick Carter, co-founder and CEO of SpringHill Company. , adding that the talent and intellectual property will continue to drive fans. Engagement and new storylines.
As streaming services and digital platforms play an increasingly important role in content creation and distribution, athletes and creators are empowered to own their stories and connect directly with their fans. .
“Ownership is everything,” said Pro Football Hall of Famer, broadcaster and entrepreneur Michael Strahan. “I think that’s something we’re very conscious of. (W)Our next steps are about what we do, what we produce, what we start, what we’ve been doing. What we’re trying to promote is, you know, ownership. ”
Accept the NIL era
Name, image, and likeness (NIL) has had a profound impact on college athletics, ushering in a new era in which student-athletes can leverage their marketability and secure financial rewards for their athletic accomplishments.
“We’re really excited to be able to share revenue directly with our student-athletes for the first time. It’s too soon,” Big Ten Conference Commissioner Tony Petiti said. “My focus is to ensure we get this new paradigm shift right.”
With this change, universities and societies are striving to provide appropriate support and guidance on how to navigate the complexities of NIL, while ensuring the academic integrity of their institutions, and improving the student-athlete experience. needs to be redefined.
