The Olympics' record-breaking viewership highlights live sports' unique ability to aggregate eyeballs at scale across platforms and geographies. The Summer Games in Paris is further proof that sports has firmly cemented itself as the most valuable intellectual property in all of media and entertainment for all distributors.
- NBCUniversal's commercial-free broadcast of the first hour of the Paris 2024 Olympics opening ceremony resulted in a 12-year high for US Olympics viewership, with a Total Audience Delivery of 28.6m viewers, surpassing both Tokyo 2020 and Rio 2016.
- The opening ceremony set significant viewership records globally, with France's audience reaching 23.24m viewers (83.1% market share), the UK's BBC drawing 6.8m viewers, and Germany's ARD achieving its highest ratings since Athens 2004 with 10.1m viewers.
- The ad-free hour, sponsored by six major Team USA partners, contributed to NBCU's projection of over $1.25bn in ad sales for Paris 2024, setting a new record. Peacock's streaming of the ceremony also ranked as its number one entertainment event in history.
- The WNBA All-Star Game achieved a record average viewership of 3.44m on ABC, peaking at 4.05m viewers, making it the 17th WNBA game this season to surpass one million viewers and shattering the previous All-Star viewership record of 1.44m set in 2003.
- This All-Star Game became the WNBA's third most viewed game ever, only behind two matchups from the league's inaugural 1997 season, and it marked the largest audience for a WNBA game on a Disney-owned network.
- Significant interest in this year's game was driven by rookies like Caitlin Clark and Angel Reese and the Team USA vs. league stars format, far exceeding the 850,000 viewers of last year's game. The WNBA now pauses for the Paris 2024 Olympics, resuming play on August 16th.
- Warner Bros Discovery (WBD) has seen nearly one billion minutes of Paris 2024 coverage streamed across its platforms Max and Discovery+, with total unique streaming viewers already surpassing those of Tokyo 2020 and average minutes consumed per viewer up by 63%.
- Five times more streaming viewers have watched Paris 2024 compared to the same period during Tokyo 2020, and Eurosport's average linear television audiences have increased by 98% in major markets. Engagement on Eurosport's websites has also risen by over 43%.
- The launch of WBD’s Max streaming service in Europe ahead of Paris 2024 contributed to record-setting retail gross subscriber acquisitions. WBD has more than doubled its advertising revenue target for the event, indicating strong interest from brands. The company's extensive coverage includes 3,800 hours of live content throughout the Games.
- Manchester United intends to submit plans by the end of the year for a new 100,000-seater stadium, estimated to cost at least $2.6bn, with new co-owner Jim Ratcliffe pushing for the largest stadium in Britain. The proposed stadium would be built on the current Old Trafford footprint, preserving the area's heritage and allowing for future expansion.
- The new stadium project could be financed through a combination of public and private funding, with a construction timeline of six years. While rebuilding the current stadium is a cheaper alternative at $1.3bn, it would lead to a loss of match-day revenue during the renovation period.
- Manchester United officials are drawing inspiration from major projects like the Hollywood Park complex and SoFi Stadium in Los Angeles, as well as Real Madrid's Bernabeu redevelopment, Tottenham Hotspur Stadium, and Wembley.
- Real Madrid generated a record-breaking revenue of $1.16 bn for the fiscal year ending June 30, surpassing previous highs set by FC Barcelona and the Dallas Cowboys, marking the highest revenue ever posted by a professional sports franchise in a fiscal year.
- The 27% revenue increase from the previous season was driven by gains in gameday and sponsorship revenue, including a new sleeve sponsorship deal with HP, and increased stadium revenue from the Santiago Bernabéu remodel. Despite a decline in broadcast revenue from LaLiga, overall earnings before interest, taxes, depreciation, and amortization remained flat at $169m, with net income rising by 32% to $16.8m and net equity at $620m.
- The club's financial performance was bolstered by their success in winning the LaLiga title, Spanish Cup, and Champions League. Real Madrid's basketball team's achievements also contributed to the results. The club expects further strong financial results for the 2024-25 fiscal year, driven by the completion of the stadium renovation and the signing of Kylian Mbappé on a free transfer.
- DAZN has secured a seven-year global broadcast agreement for the National League, covering the semi-professional fifth and sixth tiers of English soccer from the 2024/25 season to 2031, replacing TNT Sports as the domestic broadcast partner.
- The deal includes linear and digital rights, with DAZN absorbing the National League TV streaming service to offer all 557 fifth tier matches to international audiences and selected sixth-tier games. National League TV will be available as a standalone or an add-on to existing DAZN subscriptions, despite the FA-imposed 3pm blackout restricting live UK broadcasts.
- The partnership aims to boost the National League’s global presence and fan engagement, leveraging DAZN’s expertise and technology. DAZN’s broader sports streaming portfolio includes top women's leagues and other international soccer leagues.
- Christa Stout and David Long from the Portland Trail Blazers initiated a comprehensive AI strategy by gathering data through fact-finding conversations, forming an internal AI committee, and conducting various trainings to understand how AI could enhance business efficiency.
- The Blazers achieved a significant milestone with an AI boot camp for 25 front office members, led by innovation expert Jeremy Utley. The boot camp included daily exercises and meetings to integrate AI into problem-solving, emphasizing the importance of regular AI usage.
- The AI initiatives have already yielded positive results, such as the creation of Betty Budget for budget code searches and a brand expert for branding queries. The team is also developing an assistant to analyze survey results and flag negative customer feedback.
- Alibaba has introduced OBS Cloud 3.0, an AI-powered Olympic broadcast production network through Alibaba Cloud, in time for the 2024 Paris Games to aid in the remote distribution of feeds produced by Olympic Broadcasting Services (OBS) across 54 networks.
- For the first time in Olympic history, OBS Live Cloud will serve as the primary method for remotely distributing footage to media rights-holders, replacing the satellite method used since 1964. OBS Live Cloud debuted at the 2020 Tokyo Games and was utilized by 22 broadcasters in the 2022 Beijing Games.
- The platform will host several advanced features including the OBS content delivery platform (Content+), an AI-powered Multi-Camera Replay System for 3D rendered replays, and the new OBS Olympic Video Player supporting ultra-high-definition livestreaming.
- The Golden State Valkyries, a new WNBA expansion team, have secured over 15,000 season ticket deposits, setting a record for a U.S. women's sports franchise prior to its inaugural season. This surpasses the previous record of nearly 5,000 held by the NWSL's San Diego Wave.
- Each season ticket deposit costs $25, generating $375,000 in deposits. The Valkyries will play their home games at the Chase Center, an 18,000-seat arena also home to the NBA's Golden State Warriors. The Warriors' ownership group paid a record $50m expansion fee for the Valkyries.
- The WNBA is considering expanding its season from 40 to 44 games, supported by an 11-year, $2.2bn media rights deal with Disney, Amazon, and NBC. The Valkyries will begin play in 2025, followed by a Toronto franchise in 2026, with a goal to reach 16 teams by 2028. The average WNBA franchise is valued at $96m, with the Las Vegas Aces being the most valuable at $140m.
MLB Network Goes DTC As A Standalone Streaming Service (Changing Video Consumption Habits / Unbundling and Rebundling of the Media Ecosystem)
- MLB Network will be available as a direct-to-consumer (DTC) streaming service for $5.99 per month, with an additional bundle option, MLB Network + A Bat, priced at $6.99 per month, offering live game audio, Minor League Baseball matches, and MLB Big Inning show.
- The move aims to expand MLB Network’s reach and provide more viewing options as traditional cable viewership declines, highlighted by a drop from 42.3m to 31.2m US households last year.
- Current and future MLB TV paid subscribers can stream MLB Network at no extra cost for the remainder of the 2024 season.
- Kylian Mbappe, through his company Interconnected Ventures and its investment entity Coalition Capital, has acquired 80% of the shares of French Ligue 2 club Caen, replacing U.S. investment fund Oaktree as the majority shareholder.
- Mbappe's close friend and CEO of Interconnected Ventures, Ziad Hammoud, will assume the role of chairman of the club.
- The acquisition fee is reported by French media to be between $16.2-21.6m, though no official figure has been released.
- The England and Wales Cricket Board (ECB) is offering stakes of up to 49% in each Hundred franchise, with Saudi Arabia's Public Investment Fund (PIF) interested in purchasing a new franchise based in Durham.
- The ECB aims to raise up to $642m from these sales, with most franchises likely selling the majority of their controlling stakes while retaining a 51% share with host counties or clubs.
- The ECB plans to expand The Hundred tournament, with Durham-based and West Country teams expected to join in 2027 and 2029 respectively, alongside a new media rights deal set to start in 2029, offered as a standalone package.
- Saudi Arabia’s Public Investment Fund (PIF) has increased its stake in Newcastle United to 85% by purchasing Amanda Staveley’s 6% share, valuing the club at over $1.3bn.
- Despite leaving Newcastle, Staveley is reportedly interested in acquiring another soccer club, having raised $643m for this purpose, with Tottenham Hotspur being a potential target.
- Newcastle United has seen significant revenue growth, more than doubling its turnover since PIF’s initial investment, and continues to comply with Premier League’s profit and sustainability rules through strategic player sales and financial management.
- Y. Michele Kang, owner of the Washington Spirit, Olympique Lyonnais Féminin, and London City Lionesses, has launched Kynisca Sports International Ltd, the first global multi-team organization dedicated to women’s soccer.
- Kynisca Innovation Hub (KIH) will focus on enhancing female athletic performance, aiming to raise $100m, with Kang contributing $50m. KIH will be led by Dawn Scott and Theresa McDonnell from the Washington Spirit.
- KIH seeks to address the disparity in sports science research, with only 6% currently focused on women, by creating a comprehensive database to develop new training protocols and enhance female health, wellness, and performance in sports.
- Cosm has secured over $250m in a new funding round, bringing the company's valuation to over $1bn. Notable investors include Marc Lasry, Dan Gilbert, and David Blitzer. Mirasol Capital, led by Steve Winn, remains the controlling owner, with new board seats granted to Lasry and Rock Entertainment Group CEO Nic Barlage.
- The funding will support Cosm's tech and media businesses, the development of future venues, and strategic growth through acquisitions. Cosm's recent landmarks include the opening of its first facility in L.A. and plans for new venues in Dallas and Atlanta.
- Cosm aims to expand to a network of dozens of venues, prioritizing large markets like Miami, Nashville, and New York, with a goal of reaching 50 venues by the end of the decade, mostly in the U.S. but with some international aspirations.
- Batbox, a baseball simulator and sports bar, has announced a Series A funding round of $7.3m led by EMERGING Fund and MG Partners.
- The funding will support Batbox's expansion into the U.S., starting with a location in Addison, Texas in early 2025, with a goal of 25 U.S. locations by 2030.
- The venues will feature 10 baseball simulators using proprietary Strikezon technology, offering multiplayer game options such as home run derbies, pitching contests, and full nine-inning games with up to 18 players.
- Ninjas in Pyjamas (NIP) began public trading on the Nasdaq under the ticker symbol NIPG, aiming to raise $20.25m from its IPO by offering 2.25m shares at $9 each. This IPO serves as a critical test for the esports industry's financial viability amid a volatile investment environment.
- NIP Group, formed from a merger between Swedish Ninjas in Pyjamas and Chinese entities eStar and ESVF, operates across three main verticals: esports franchises, event operations, and talent management. The group's 2023 revenue of $83.7m was predominantly generated from its talent management division (63%), with esports teams and event production contributing 26% and 11%, respectively.
- NIP Group is adopting an "esports+" model to diversify revenue beyond tournament winnings, including IP licensing, sponsorships, advertising, player transfer fees, and merchandise. However, the esports market faces a reset with reduced publisher interest and smaller prize pools, making it a challenging environment for public companies.
- Intersport has launched a football-focused sponsorship consulting practice, Intersport FC, through the acquisition of O Street Consulting, a boutique sports agency founded in 2019.
- Intersport FC will be led by Alfonso Alanis-Cue and Rob Swain, former co-founders of O Street Consulting, bringing their extensive experience from roles in MP & Silva, Major League Soccer, and FIFA.
- Intersport FC aims to offer comprehensive services for brands looking to engage with soccer fans, leveraging the growing interest in soccer in North America ahead of the 2026 FIFA World Cup, combining expertise in experiential marketing, content creation, and partnership consulting.
- The Australian sports technology sector is valued at US$3.05bn and represents about 12% of the overall Australian sports industry, which is worth US$26bn, employing 14,906 people. The sector saw a revenue increase of approximately 10% over the last year.
- Mergers and acquisitions and capital raising activities in the sector totaled around US$325m in the 2024 financial year, with a notable increase in interest from both domestic and global investors. The number of Australian sports tech companies has surged by 177% from 2012 to 2024, reaching 765 companies as of June 2024.
- The sector is transitioning from a growth stage to a maturity stage, with expectations for continued innovation driven by advancements in AI, ICT, advanced manufacturing, and the upcoming Brisbane 2032 Olympic Games.
