LaSource Newsletter – August Sports & Tech Round Up
Hello everyone,
Welcome to our first LinkedIn newsletter. Every month, we will source the best news from the sport and entertainment industry, covering various topics such as media, innovation, new technology, finance, etc.?We wish you a pleasant reading and hope you will learn more about the latest trends that shape the future of sports!
??? What's up at LaSource?
As you might already know, we will have the pleasure of delivering the Best SportsTech Startup Award during the World Football Summit 2022 next 28-29 September in Sevilla. From 10 to 29 August, we sat down with all jury members to examine each solution provided by the candidates. Stay tuned; we will announce the selected startups soon.?
The digital audience engagement startup has partnered with the Belgian football league to integrate its engagement tools in Jupiler Pro League’s platforms.
Premier esports Panda Global has built one of the most engaged grassroots fan communities around solo player games.
The Royals' social team have truly found the perfect equation to use Slate as a tool that strengthens their brand identity.
Both companies shared the way they're collaborating on the future of Markerless Motion Capture at ACM SIGGRAPH 2022?
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For months, the news surrounding the PGA Tour’s future has been mostly bad. The steady trickle of well-known pros announcing their departure for LIV combined with rumors of who was next to go added up to a sense of impending doom. The Tour was under siege.
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?It has happened in basketball with the introduction of 3x3, in tennis with UTS or in motorsport with sprint races. The creation of new competition and new formats, more appealing to the fans and designed to meet their new expectations, have expanded over the past years.?
The most recent one is on the green, with the creation of the LIV Golf Tour. The new plans and actions taken by the PGA Tour, will not end LIV, but they may make some players think twice about leaving the PGA Tour and offer new entertainment for golf fans once TMRW Golf League is implemented.
Digital sports media company Overtime has raised another US$100 million in a funding round led by Formula One’s commercial rights holder Liberty Media and Morgan Stanley’s Counterpoint Global Fund.
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“Our investors, new and previous, see the massive growth potential of Overtime Elite and OT7, both of which have developed hyper-engaged audiences, and the potential for future sports leagues as well.“, chief executive and co-founder of Overtime Dan Porter said. For now, the digital sports media company has raised more than US$250 million with the same commitment to disrupt existing sports with innovative new formats and media coverage.
Looking back at the company’s origin, Overtime started by producing viral videos and content targeting younger fans. This strategy has allowed them to build a large fan base, to develop advertising and marketing revenues, and to attract investor attention. Overtime Elite, the program to prepare young players for professional basketball careers, has followed with a unique business model.
Based on its fan base, the company has created original content around its athletes that benefits all parties involved - Athletes can develop their social community to add value to their brand and the NBA welcomes renowned players with large digital footprint. In so doing, Overtime has been unique in leveraging digital (and sponsorship) revenue streams compared to traditional leagues (which depends more heavily on TV rights). With this new fund, Overtime may repeat its model in other sports and expose many more young talents. This winning formula may not be repeatable as it did for the NBA, and they will certainly still need to adapt to the specificities of each market but the potential is truly existing.
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