Hi Boox Popular Magazine 2024
The sports and entertainment industries are poised to generate hundreds of billions of dollars in revenue in the coming years. Revenue from sports alone generated more than $403 billion in 2022. That number is projected to reach in excess of $680 billion in 2028. Sports and entertainment marketing will lead the way in connecting with fans.
Sports and entertainment marketing itself has undergone serious transformation in the last few years. Thanks to the introduction of digital technologies and strategies, marketers have never been more effective in reaching target audiences. What will they need to do to continue being productive in 2025?
KORE is a global firm specializing in sports and entertainment marketing. They are located in New York with several sister offices around the world. Here are the trends they identify as being most important for the coming year:
1. Personalization Through Artificial Intelligence
Generative AI took the world by storm when ChatGPT was first introduced to the public. But generative AI is so much more than just a tool for creating written content and graphic images. It is also a tool capable of crunching unimaginable amounts of data for the purposes of creating hyper-personalized experiences.
That is exactly how sports and entertainment marketers will use AI in the coming years. Plan on seeing more AI driven chat bots designed to provide personalized customer service. Expect better predictive analytics that truly nail down fan preferences and behaviors. Expect personalized marketing campaigns and automated content delivery.
2. Immersive Fan Interaction
Fan interaction has long been part of sports and entertainment marketing. The more brands interact with fans, the more fans become engaged. In the coming years, expect to see more immersive interaction strategies.
Marketers will take advantage of things like virtual reality (VR) stadium tours and live events enhanced with augmented reality (AR). VR and AR are poised to make a big splash in both sports and entertainment within the next 5 years.
3. Integration With Esports
There are growing indications that sports marketers will soon start working on integrating traditional sports with their esports counterparts. Collaborations between traditional and esports organizations could foster new opportunities for both. It is not hard to imagine cross-marketing strategies where one promotes the other and vice versa. These types of promotions are likely to target younger, digitally connected audiences.
4. Direct-to-Consumer Content
Personalization is the name of the game in modern sports and entertainment marketing. Consumers are so used to being able to customize everything from food delivery to basic healthcare that it would be natural for them to expect the same level of personalization in their entertainment options.
This should encourage sports and entertainment marketers to focus more effort on direct-to-consumer content across multiple platforms. Some of that content will be designed as exclusive access content that encourages fans to become subscribers or members. The more personal the content, the more appealing it is.
5. Blockchain and Tokenization
While blockchain technology was originally intended to streamline financial transactions, its applications are truly unlimited. We are starting to see blockchain and tokenization make their way into sports and entertainment marketing.
Marketers can leverage team-specific fan tokens or cryptocurrencies. They can lean into NFTs to create digital collectibles and facilitate exclusive experiences. The potential represented in blockchain and fan tokenization is unimaginable.
All indications suggest that sports and entertainment marketing will change dramatically in the coming years. We should see some of those changes emerging in 2025. If you are in the sports and entertainment marketing industry, buckle up and hang on. Now is a great time to do what you do.
