#CiscoChat Recap: How Digital is Revolutionizing the Sports and Entertainment World
It should come as no surprise that in today’s digital world, every industry is being affected and changed by new technologies and innovations. The sports and entertainment world is no different, and in fact is one of the top three industries projected to be most influenced by digital disruption (Source: Global Center for Digital Business Transformation, 2015).
Earlier this week, I had the privilege of co-hosting our Sports and Entertainment #CiscoChat alongside Bob Roble (@SportsTechieNET), Founder/CEO of SportsTechie.net and Mike Caponigro (@mikecap724), Global Market Management for Cisco Sports and Entertainment. Thought leaders from around the world and all facets of the sports industry joined our Tweetchat to discuss how digitization and technology are creating new ways to deliver and enhance the fan experience at live sporting events.
Much of the conversation centered around the recent research conducted by Cisco that surveyed more than 1,700 sports fans around the world to gauge the value of and fan response levels to new and emerging digital concepts in the sports arena. These insights served as the basis for our #CiscoChat discussion, where we looked at how venues, teams and leagues are implementing new innovations to bring added value to both fans and their partners. The conversation certainly reinforced for me the importance of embracing technology and the huge role it will play in the sports and entertainment industry moving forward.
Key takeaways from the chat:
- Mobile First Mentality: Reliable connectivity is paramount to drive new levels of engagement, and path to new monetization opportunities (i.e. ticketing, social, per caps, sponsor activations etc.)
- Innovation Must be Continuous: A flexible innovation platform is essential to adapt to changes in fan needs and technology transitions. A digital mindset and culture must accompany this.
- Data is a Valuable Currency: Know your customer! Big and small data are opening a new world of possibilities. Analytics will increasingly yield richer insights to drive business results across all aspects of the business model.
- We’re Early in the Digital Game: New innovations will continue to excite the industry. Converting these into compelling fan experiences that add value back is the opportunity at hand.
Without a doubt, there’s never been a better time to digitize the sports and entertainment experience! If you missed our discussion, you can check out a recap on Storify.
We’d like to thank all of our participants for a lively and insightful discussion! Follow us on Twitter @CiscoSESG, and be on the lookout for future #CiscoChats on a variety of topics.