It’s no secret that technology has led to unmatched opportunities for industry growth across the sports value chain. From boosting fan engagement to optimizing digital content usage, sports organizations have been driving innovation long before the pandemic hit. The main difference between then and now is that these same organizations have switched focus to sustainability of internal processes, now opting for more autonomous, in-house innovation vs. external agency and freelance work.
According to Deloitte’s recent report Navigating Digital Change in the Sports Industry, digital transformation lends heavily to the following 4 objectives:
1) Expanding content reach
2) Enhancing the fan experience
3) Generating new revenue streams
4) Engaging sponsors
Looking at all of the opportunities listed above, perhaps the most interesting component from a business perspective is new revenue creation.
According to a recent PwC Sports Survey 2020, one of the top ways to diversify new revenue streams is through the monetization of digital assets and innovation related to media rights distribution.
In fact, there are 3 KPIs associated with tracking digital asset commercialization, including:
Percent of Inventory Commercialization – Leverage technology to associate brands with digital content, increasing commercial impact.
Percent of Meaningful Engagement – By adopting a solid content strategy and achieving the successful creation and management of this content, organizations can increase meaningful engagement on social channels.
Fan Reach – Provide engaging and relevant content for your audiences to grow fan bases.
So taking all three elements into account, the question becomes:
How are sports organizations achieving these objectives?
The answer is simple: to increase the commercial impact of digital content, new and advanced media valorization technology is required.
A Sports Media Hub is a place where marketing, production and business development teams can work together in harmony to organize and further valorize their organization’s content in a secure and collaborative cloud-based workspace.
As Big Data continues to dominate strategic oversight, the opportunity for monetization also exists. With new revenue creation top of mind in the industry, many sports organizations are revving up interest in media valorization and resale.
This is the latest trend in enhancing sports club business models with native and centralized content resale and production solutions. Not only do Sports Media Hubs promote cost effectiveness by allowing for in-house asset management and post-production, but they also allow for easy access, and commercialization of proprietary content.
For the most part, a majority of sports organizations already have some sort of media hub, but in order to maximize content valorization and generate new revenue streams, game changing technology is required. That’s where the Multimodal AI comes into play.
With Newsbridge’s AI-powered media valorization platform, searching for, logging and selling content has never been easier, and more autonomous for teams. By uploading media assets to the cloud-native platform, users’ content is automatically indexed via multimodal indexing AI technology, leveraging time-stamped metadata.
This creates a more advanced search and retrieval experience. Using a semantic search engine that can cross analyze multiple auto-indexed elements, i.e. people, objects, speech to text, logos, context etc, users are able to search for multilayered moments, in seconds, possessing an in-depth precision of recently uploaded or incoming live media. In this way, exact and meaningful sequences (i.e. @Antoine Griezmann, #FFF, #EDF) can be found and published in record time.
At the same time, the platform offers a Content Monetization portal that allows for the showcases and resale of existing media assets,organized into enriched and customizable collections based on metadata, powered by Multimodal AI. Via an unprecedented Clip & Collect experience, content buyers all over the world have the ability to search, find and purchase available extracts.
Newsbridge is a cloud media hub platform for live & archived content.
Powered by Multimodal Indexing AI and a data driven indexing approach, Newsbridge provides unprecedented access to content by automatically detecting faces, objects, logos, written texts, audio transcripts and semantic context.
Whether it be for managing and accessing live recordings, clipping highlights, future friendly archiving, content retrieval or content showcasing and monetization - the solution allows for smart & efficient media asset management.
Today our platform is used by worldwide TV Channels, Press Agencies, Sports Rights Holders, Production Houses, Journalists, Editors and Archivists to boost their production workflow and media ROI.