Sports Media's Next $1B Companies
Sports Media's Next $1B Companies
The three pillars of sports medias future unicorns (and the playbook laid out for you).
Lebron James’ media brand, UNINTERRUPTED, recently formed a partnership with Tapcart to build their mobile app.
And the head of commerce Steve Friend said something interesting…
“…our focus is anchored in the three pillars of Product, Content, and Community”.
That’s the blueprint for success in 2023 & beyond ^^^
Let’s take a look at it 👇
UNINTERRUPTED Laying The Foundation
UNINTERRUPTED aims to tell stories highlighting the theme of "More Than An Athlete”.
Athletes who use their hobbies and passions outside of their sports to find community.
UNINTERRUPTED’s end goal…1-to-1 engagement with their super fans.
They will funnel users like this:
It’s about attacking the top of the funnel to see what loyal fans reach the bottom (where you can take care of them even better).
Short Form
social media (twitter, ig, tiktok, etc)
Long Form
podcasts, youtube, documentaries
In-App
personalized engagement, perks, behind-the-scenes content, & merch
Let’s take a look at some other sound ideas in sports media.
Future $1B Sports Media Companies
I’ve now recorded over 45 podcasts (and have heard a few repetitive opportunities).
They’re extremely relevant to sports — but also to media and entertainment.
Shoppable Content
The NFLPA’s Steve Scebelo talked about it when he said that the metaverse is the next evolution in sports media and e-commerce.
And it’s not how you see it in the movies…
But rather being able to buy right from the screen (or see stats while you’re watching).
A more immersive experience is what it’s about.
Or the “buzzword” we’re all sick of…
FAN ENGAGEMENT.
Commerce Combos
Don White from Satisfi Labs talks in detail about “commerce combos” (and other guests have brought it up as well).
Think of it as itinerary building — or listing out all the things a fan wants to do, buy, or see.
Here’s an example of a baseball game:
Park under the bridge
Four tickets on the 3rd-base line
Beer + hot dog in the 5th inning
A jersey of your favorite player
The current problem…
You can’t buy all of them at once. There’s a different POS (point of sale) for each of them whether in person or online.
Integrating all of this is a huge opportunity (and AI is sure to help play a part in the evolution).
Artificial Intelligence Ideas
AI has been in sports for a long time…
But now it has the opportunity to really push the space forward — mostly through automation and optimization.
Three opportunities that I see:
AI that automates repetitive tasks (challenging information director roles)
AI that provides data analytics & insights (challenging data analyst roles)
AI agents that handle online jobs (challenging IT, HR, and customer support roles)
Sports are built on data, media, repetitive jobs, and experiences.
AI will transform it — without a doubt.
Going Forward
Sports is media (and media is sports).
94/100 of the most watched live events in 2022 were in sports.
The playbook for media companies is: Content, Community, & Product
Not only are companies like UNINTERRUPTED following this (but also sports leagues and rights holders).
Exciting times ahead 🥂
Podcast 🎙
Today’s guest is Don White, CEO & Co-Founder of Satisfi Labs.
Satisfi Labs is an AI chatbot, which is conversational and understands tens of thousands of intents (200+ sports clients).
You’ll enjoy this episode as we discuss:
ChatGPT concerns & problems
Jumping full-time into AI chatbots
Trends to watch in sports - commerce combos
Check out the podcast episode here.
Don has extensive experience in sales and artificial intelligence making for a fascinating conversation. Satisfi Labs raised a Series A round in 2021.
I appreciate you reading (and listening today).
We’ll talk again on Sunday during the weekly roundup!
Peace,
AP
Awesome Andrew! So glad to have been of help by sharing some insights on the sports technology industry. :) Love this one "94/100 of the most watched live events in 2022 were in sports".