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Remember the training montage in Rocky IV and all the computer equipment tracking Ivan Drago’s training? Well, sports tech has come a long way since Rocky ended the Cold War, and what used to be reserved for top competitors has filtered down to kids’ leagues. But it doesn’t stop at high-tech training; technology promises to affect almost every way we interact with sports.
Technology is set to affect how athletes train, companies market, fans follow their favorite teams, games are broadcast and even how players interact with their followers. The stakeholders who get on board will likely see rapid success, while those who miss the boat might find it hard to catch up.
1. Improved Sports and Training
You know that activity monitor you have on your wrist? Multiply its capabilities tenfold, and you have a taste of what the average coach can access for each player. High-tech sensors and tracking systems, video cameras and AI merge to create the ultimate feedback mechanism. Coaches can see everything from bat velocity to motion analytics. Trainers track a host of vital signs during a workout. AI makes connections that humans can’t see — and these systems aren’t confined to the pros. Even high school or junior high coaches can use these platforms. The result? Science-based, tech-trained players aiming closer to perfection.
2. Creating Immersive Media Experiences
Pylon cams fundamentally changed the NFL viewing experience when they were introduced this decade. Not only did they change how officials reviewed close calls, but they gave producers previously impossible angles to broadcast. Now, fans can see replays that put them in the endzone, and new advances continue to make the experience more immersive. Smaller cameras paired with high-speed, real-time connections create the ultimate viewing experience.
Recently, the NFL started adding CGI effects to their broadcasts in an effort to appeal more to kids—a valuable demographic. Networks have also introduced watch parties that can make fans feel like they’re on the field. Each of these new features can be sponsored, creating new inventory for sales teams — including fully customizable tech-forward offerings, like MLB pitcher’s mound sponsorships and NHL digital dasher boards. This new inventory will likely continue to become more targeted and programmed to scale locally, regionally and/or nationally for more precise audience engagement.
3. Crafting Smarter s
With big data, brands can deliver ads to the audience that’s most likely to buy, allowing more granular segmentation in your target market. Dynamic pricing was recently introduced, adjusting event prices based on various parameters. If the weather is going to be bad at an outdoor venue, it’ll lower the price. It’s automated, learns from big data and could change how the sports industry markets to customers. Some platforms, like Event Dynamic, can even prioritize selling seats based on camera broadcast angles. Say goodbye to empty-looking stadiums on the broadcast.
Franchises will probably also get in on the action, delivering targeted ads. Say, for example, you download your favorite basketball team’s app; the app knows when you’ve gone to a game and shares that data with the Walmart app you happen to have on your phone. As a result, your Walmart app sends you a coupon for your favorite team gear the next time you walk into your local store. This personalized marketing maximizes revenues and creates even deeper engagement and long-term loyalty.
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4. Making Fan Engagement a Priority
Emerging technologies can analyze where fans live and help companies market accordingly. Local fans might get ticket offers, while long-distance fans get special viewing offers. Engagement tools are continuously being created. Among the most popular are watch parties, where fans can virtually watch a game with team celebrities. Once a dream, today’s fans can engage with the players in unimaginable ways.
Other impactful ways include team and player-focused NFTs (digital collectibles connected to physical sports merch like CollectID) and OTT services on Roku, Apple and the like. The proof of impact has already been shown — 60% of sports fans have purchased NFTs and Bitcoin. In 2021, “sports accounted for 95 of the 100 most viewed programs on television.” Companies shouldn’t depend on single transactions; the best companies will add steady revenue streams from multiple places, creating unique user experiences.
5. Expanding Athletes’ Influence
Finally, tech offers new opportunities for players to become influencers. Today’s top athletes — even NCAA student-athletes — can monetize their popularity and build engagement with fans utilizing their name, image and likeness (NIL). The recent passing of NIL legislation allows college athletes to strike brand deals as individuals for the first time. Despite its ever-evolving nature, these student-athletes are already getting creative and harnessing the power their NIL can provide. For example, the University of Nebraska wide receiver Decoldest Crawford signed a deal in 2022 with SOS Heating & Cooling, a local HVAC company, marrying his iconic name with a small, local business in the Lincoln community.
New services can help generate new content for social media so athletes can promote some of their best moments on and off the field — like instantly generating photos of athletes’ best plays after a game to share with their followers. Think of Lebron James; athletes like him are voices for millions of fans. Tech can and should provide the tools to bring athletes and their fans ever closer together, and social media companies can capitalize on that.
Sports Technology Is Here To Stay
This is just the tip of the iceberg regarding sports tech — not to mention sports betting, video games and other modes of tech. There are a host of elements that come into play. Technology will continue to influence sports. Those looking to remain relevant and progressive within the industry should embrace the technology being developed.
These trends offer countless ways for enterprising sports companies to invest, allowing brands to develop innovative ways to stay ahead of the rest. A competitive imbalance is on the horizon, and brands that embrace these powerful new tools will remain in the game.
