5 Ways to Boost Your Revenues with Live OTT Sports Streaming
The numbers show that the popularity of live sports video is at an all-time high. More people are tuning in and they're most often watching on a connected device. How many times a day do you check your phone to get live score updates, or watch highlights? This is good news. Increasing numbers of viewers can translate into more revenue opportunities for you. To respond to changes in viewing habits live sports streaming is steadily moving to OTT.
Cloud-based media processing and OTT distribution have proven that it has the power to create a memorable viewing experience. And engaged viewers really are the key. Yet, with a growing number of OTT platforms available, the game is on. The battle for subscribers and retention is on-going. Viewers want more high-quality, nonstop content on every device, and if you can give it to them then you've won the first round. But what about the long-term? There is more to it than just providing sports content. It may require taking a step towards more innovative options. According to a recent PwC Sports Survey, many rights owners, and in particular sports federations, need to urgently transform their business model if they want to see growth. So, how can you use OTT streaming for live sports to open new revenue opportunities and ensure ROI?
1. Expand your reach to get new fans
With OTT, you can stream direct-to-consumer. The result? You get a broader global reach and ability to target niche audiences of any size. The cloud plays a big factor in helping you manage OTT services and scale up to support massive audiences during peak viewing times. It also makes it simple to scale down for national and local sporting events watched by fan bases around the world. The best part? There is little to no capital investment in infrastructure.
If you’re a sports content owner, you can gain more subscribers indirectly from distribution partners. Channels can be delivered quickly and cost-effectively to partners anywhere in the world via CDN. It replaces dedicated networking links and satellite transponders to simplify your video delivery.
2. Repurpose content for highlights, stats, and scores
Content owners can leverage a cloud-based OTT solution to create specialist sports channels. There are multiple options for cost-effective content repurposing. For example, do you want to appeal to local fans? Find a niche audience for beach volleyball or another lesser publicized sport? You can offer a range of special interest sports channels at specific times of the day for either live or VOD content and get a quick ROI. You can also leverage the consumer data you gathered from the OTT platform. This data can help you better understand your subscriber's viewing preferences. LaLigua is a great example of how to leverage data from the OTT platform to create channels that subscribers really like, and that they're happy to pay for.
3. Package sports channels to deliver the content they crave
TV is getting more and more personalized. So are live sports streaming offerings. Subscribers have shifted preferences and only want to pay for the types of content that interest them. What will it take to get them to stay? With cloud and OTT technologies you can quickly create skinny bundles that group together the channels consumers want, without huge costs or risks. Your rewards continue long after thanks to greater customer retention and the growth potential from increasing subscription charges.
4. Create pop-up channels for those must-see games
Creating “a short-time only” OTT channel for a single live, or a series of live events is instant in the cloud. Imagine getting your local game out to regional audiences with ease and independence.
These pop-up channels are becoming really popular. When used in an overall OTT strategy popup channels can be simple, fast and cost-effective.
5. Target ad placement to engage with the right fans
Targeted advertising is a chance to grow your revenues without having to increase subscription prices. You can target ads to viewer profiles and interests, drawing in higher rates for advertising slots and reducing the number of viewers that switch to another channel.
Check out these twelve key essentials for DAI. You may just find your next big idea for advertising in OTT.
The game is on and the time to act is now
Your viewers are willing to pay for compelling, high-quality content, particularly live sports. Next year, the world will be watching the Tokyo summer games, and you could grab some of that revenue potential.
The opportunities in this space are endless. We are here to make sure you succeed and to help you choose the right options for you. Let us know if you'd like to clarify your options.