In this week’s news, we see further proof of the value of live content and the demand to attend live events with marquee events - both the women’s and men’s NCAA basketball tournaments in the U.S. and the start of the Indian Premier League abroad - continuing to drive massive consumer engagement across distribution platforms and in venue.
- The women's NCAA tournament has begun, highlighted by stars like Caitlin Clark and top-seeded Iowa, building on the sport's significant growth over the past year, which saw ESPN broadcast its most-watched women's college basketball regular season since 2008-09.
- The increasing popularity of women's basketball, evidenced by record-breaking viewership figures during last year's tournament, suggests the possibility that the women's final could potentially outdraw the men's final in viewership, especially given the men's lowest recorded viewership last year and the men's final airing on TBS.
- Caitlin Clark's impact extends beyond the court, boosting viewership across CBS, Fox, and NBC, while also presenting challenges such as games being placed behind paywalls. Research indicates that games featuring Clark are more effective for advertisers, showcasing her influence on the sport's marketability and viewership.
- The first round of the NCAA Tournament set a new viewership record with an average of 8.3 million viewers across CBS, TBS, TNT, and TruTV, driven by a series of upsets including eight double-digit seeds advancing, marking a historic start for Turner Sports and CBS Sports.
- The game featuring No. 14 seed Oakland's upset over No. 3 seed Kentucky was the most-watched Round of 64 matchup with 6.21 million viewers, highlighting the appeal of underdog stories and setting a viewership peak not seen since 2019.
- Key performances, like Jack Gohlke's 32 points for Oakland and Jack Poulakidas's 28 points for Yale, underscored the individual stories emerging from the tournament, with Gohlke leveraging his standout game into a NIL deal with TurboTax and launching his own apparel line, showcasing the impact of NIL opportunities on college athletes' marketability during March Madness.
- The NCAA Men's Tournament began with high attendance, seeing over 24,000 fans at the First Four games in Dayton and nearly 260,000 fans attending first-round games across eight cities, with ticket sales reaching 95-100% capacity at most venues, showcasing strong fan engagement and excitement for the tournament.
- TD Garden in Boston is set to host the NCAA Men's Tournament East Regional, with extensive preparations including the installation of NCAA floorboards immediately following a comedy show, illustrating the logistical efforts and coordination required to transform the venue for the tournament amidst a pre-sale that sold out half the 19,000-plus seats last October.
- The Utah women’s basketball team experienced racism during the first two rounds of the NCAA Women’s Tournament in Coeur d’Alene, Idaho, leading to a hotel change for the team's safety, highlighting off-court challenges and distractions that affected the players' tournament experience and drawing attention to the need for a safe and inclusive environment for all participants.
- The IPL's new season opener saw a 51% increase in digital viewership on Viacom18's JioCinema compared to the previous year, with over 111 million viewers logging in and the platform registering 590 million video views.
- The match between Royal Challengers Bengaluru and Chennai Super Kings recorded 6.6 billion minutes of watch time, highlighting the significant digital engagement for IPL matches, particularly in the context of Viacom18's substantial investment in the league's digital media rights.
- Viacom18 emphasizes the shift towards digital-first sports consumption in India, with expectations of setting new benchmarks and breaking records throughout the IPL season, as demonstrated by the record opening day numbers and the platform's strategy of offering free streaming to maximize advertising revenue.
Google DeepMind creates AI tool to help Liverpool score more corner kicks (Transformational Growth Levers / Business Businesses Around Disruptive Technology)
- Google's DeepMind and Liverpool FC have developed 'TacticAI', an AI system offering tactical advice on corner kick strategies to coaches, utilizing predictive and generative AI techniques to enhance decision-making during matches based on a focus on corners due to their goal potential but reliance on human intuition for pattern identification.
- TacticAI employs geometric deep learning to overcome the challenge of limited reliable data from corner kicks in Premier League games, making it possible to generalize models for various scenarios, assess likely ball receivers, shot attempts, and suggest tactical adjustments, with Liverpool experts favoring the AI's recommendations in 90% of evaluations.
- This collaboration between Liverpool and DeepMind signifies a broader effort to incorporate AI in sports analytics, aiming to improve team performance and operational efficiency, with implications for advancing AI application in sports and beyond, showcasing the growing integration of generative AI in transforming sports strategy, efficiency, and fan engagement.
- IMAX and NBCUniversal have partnered to broadcast the opening ceremony of the Paris Olympic Games live in over 150 IMAX theaters across the U.S. as a ticketed event, marking the first time Olympic Games coverage will be screened in IMAX format, with the ceremony set to take place around the River Seine in Paris.
- The live coverage of the opening ceremony, featuring TV host Kelly Clarkson, NFL star Peyton Manning, and NBC Olympics primetime host Mike Tirico, will also be available on NBC, Peacock, and Telemundo, providing viewers multiple platforms to experience the event.
- This initiative is part of a broader strategy by NBC to enhance Olympic Games viewership, including broadcasting daily live daytime coverage of the 2024 Paris Olympics on AMC Theatres screens across the U.S. from July 27 to Aug. 11, with NBCUniversal holding the U.S. media rights to the Olympic Games through 2032.
- The Philadelphia Phillies and Comcast Spectacor have announced a $2.5 billion mixed-use development project in South Philadelphia's sports complex, aiming to transform the area around Wells Fargo Center, Citizens Bank Park, and Lincoln Financial Field with amenities including a concert venue, hotel, retail shops, and an upgraded Xfinity Live! destination.
- A future phase of the project will introduce "Phillies Plaza" next to Citizens Bank Park, another hotel, residential spaces, more retail, office spaces, and restaurants, enhancing the collaboration between the Phillies and Comcast Spectacor.
- This partnership between the Phillies and Comcast Spectacor not only aims to revitalize the sports complex area but also strengthens the argument for keeping the 76ers in South Philadelphia, marking a significant business collaboration between professional teams across different leagues and highlighting a shared vision for Philadelphia's future.
- The Cleveland Browns, Detroit Lions, Indianapolis Colts, and New York Giants join the NFL's Global Markets Program, targeting countries like Germany, Austria, Switzerland, Canada, and Nigeria to expand their international presence through events, marketing, and commercial opportunities.
- The program now includes 25 teams engaging with 19 different markets worldwide, aiming to grow their fan bases and explore commercial opportunities on the international stage, with the Miami Dolphins expanding their rights to Argentina, Colombia, and Mexico.
- The Los Angeles Rams extend their market rights to Japan and South Korea, marking the program's momentum in fostering the NFL's global reach, as teams recognize the value of tapping into new markets to grow their game and fan bases internationally.
- Major League Baseball (MLB) implemented on-field rule changes last season, leading to increased attendance, higher local TV ratings, and record sponsorship and merchandise sales, with team values averaging $2.64 billion, marking a 12% increase from the previous year.
- The New York Yankees, Los Angeles Dodgers, and Boston Red Sox lead in team values, with the Yankees valued at $7.93 billion, trailing only the Dallas Cowboys and Golden State Warriors among the world’s most valuable sports franchises, amidst challenges like local TV rights fee pressures and specific team struggles.
- MLB teams generated an estimated $11.8 billion in revenue last season, with significant growth in gate receipts and sponsorships, notably through new jersey patch programs, and despite local TV rights challenges, they maintained a strong position, supported by the sheer volume of content provided by a 162-game season.
- Josh Harris and David Blitzer are consolidating their investments in youth sports into a new entity, Unrivaled Sports, with the support of The Chernin Group and leadership from former Nike COO Andy Campion, aiming to make sports more inclusive and accessible.
- Unrivaled Sports plans to expand its portfolio across different sports, genders, and geographies, with Campion highlighting the untapped potential in youth sports experiences, and investments made in baseball, softball, football, and action sports facilities.
- The formation of Unrivaled Sports is backed by notable figures and financial support, indicating a strong belief in the growth and profitability of youth sports, with plans for further expansion, including a focus on football and potential international ventures.
- Major League Baseball owners unanimously approved the sale of the Baltimore Orioles to a group led by David Rubenstein, following a prior purchase of a 40% stake in the team, valuing the franchise at $1.725 billion.
- The agreement allows Rubenstein's group to acquire the remaining shares after the passing of founding owner Peter Angelos, who died on March 23 at 94, after transferring team control to his son John in 2019.
- The new ownership group includes notable figures like Michael Arougheti, Michael Bloomberg, Cal Ripken Jr., and Grant Hill, with Rubenstein committed to building upon the team's recent management and strategy overhauls to bring a World Series trophy back to Baltimore.
- Ipswich Town FC announces a significant investment of up to ￡105 million from US-based private equity firm Bright Path Sports Partners (BPSP), securing a 40% stake in the club as it aims for Premier League promotion.
- The investment is aimed at supporting Ipswich's ambitions to return to the Premier League, with BPSP providing capital and strategic assistance, while current CEO Mark Ashton continues to manage the club's day-to-day operations.
- The funds from BPSP will be utilized for key infrastructure projects, including the redevelopment of the training ground, as part of efforts to ensure the club's long-term future and competitiveness in English football.
- The NWSL and Liga MX Femenil have established a strategic partnership to launch the 'NWSL x Liga MX Femenil Summer Cup,' featuring all 14 NWSL teams and six Liga MX Femenil clubs, based on their performance in the 2023 Clausura and Apertura tournaments.
- The tournament will include a 33-match format, starting with a 30-game group stage leading to a four-team semi-final round and culminating in a championship game between 25th and 27th October, aiming to foster competitive play and new rivalries.
- This collaboration marks a significant milestone in the growth of women's soccer in North America, aiming to increase the sport's visibility, value, and global standard while fostering community and providing new international opportunities for players.
- The Bahrain Mumtalakat Holding Company, Bahrain's sovereign wealth fund, has fully acquired McLaren Group, converting all preference shares into ordinary shares to take total ownership, deepening its involvement since first partnering in 2007.
- Despite concerns raised in the U.K. House of Lords about sports being used for image laundering by countries with poor human rights records, the investment signifies confidence in McLaren's value and strategic direction, especially considering its majority stake in McLaren Racing.
- McLaren Racing CEO Zak Brown has received a contract extension through 2030, rewarding his leadership that has led to significant progress and successes across multiple racing disciplines, including IndyCar and Formula E, under his tenure since becoming CEO in 2018.
- Alex Rodriguez and Marc Lore missed a critical payment deadline for acquiring a controlling interest in the NBA’s Minnesota Timberwolves and WNBA’s Minnesota Lynx, leading current owner Glen Taylor to announce that both teams are no longer for sale, despite the duo's previous deal valuing the Timberwolves at about $1.5 billion.
- Despite Rodriguez and Lore's statement expressing disappointment and claiming to have fulfilled their obligations with necessary funding in place, their attempt to increase their stake from 40% to 80% faced challenges, including financing issues with Blue Owl Capital’s Blue Owl HomeCourt after talks with Carlyle Group fell through.
- Under the original agreement, Rodriguez and Lore purchased 20% of the Timberwolves in 2021 with options to buy additional stakes leading to majority ownership; however, missing the recent deadline could leave them as minority investors, marking Glen Taylor’s second retention of team ownership after previous sale attempts.
- MMA training app company Alta Global, co-founded by Conor McGregor's trainer John Kavanagh, went public on the NYSE American Exchange, pricing its shares at $5 each and raising $6.5 million through the sale of 1.3 million shares under the ticker MMA.
- Alta Global offers a technology platform enabling gyms to host various mixed martial arts training programs, including its signature Warrior Training Program and UFC Fight Fit, facilitating revenue generation for gyms through one-time fees.
- Despite its modest annual revenue of AUD 1.54 million ($1 million) and a net loss of AUD 20.6 million ($13.4 million) in 2023, Alta aims to capitalize on the global surge in combat sports participation, with the company highlighting its potential for growth in a market with 11.8 million MMA participants worldwide.
- The Premier League has made its first investment in a licensee company by acquiring a stake in Manchester-based virtual reality software firm Rezzil, part of Mi Hiepa Scout Limited, to enhance fan and player engagement with VR technology.
- This partnership includes a four-year licensing agreement aiming to create a VR game that will allow fans to experience and recreate match moments as Premier League players, with a launch anticipated later this year.
- The move is part of a growing trend among sports organizations to integrate VR technology for training, analysis, and fan engagement, with Rezzil's products already being used by numerous Premier League clubs and leading sports teams worldwide.
