As younger audiences gravitate toward streaming platforms, sports media companies must adapt to the growing demand for streaming options and on-demand content to remain relevant.
That’s the key insight offered to broadcast television station owners seeking to grow revenue and audience share through live sports programming from a new study released by Harker Bos Group.
The findings come from the State of Sports Media 2024 report, courtesy of Harker Bos Group’s Crowd React Media arm.
According to Crowd React, streaming continues to dominate, with 73% of sports fans using
streaming services to watch live games, highlights, and sports-related programming. At the same time, traditional cable usage has declined by 11 points from 2023.
The study also shows that the rise of digital platforms has given fans the ability to curate their own sports experiences. “Fans increasingly opt for flexible viewing options, choosing
what, when, and how they consume sports content,” Crowd React Media finds.
The study also offers key insight into the role social media plays, which is outsized.
“Social media continues to be a major force in fan engagement, with 90% of sports fans using YouTube and 71% engaging on Facebook to consume sports content,” Crowd React Media notes. “This presents a critical opportunity for media brands to leverage these platforms for audience growth.”
To view the whole report, please click here:
https://crowdreactmedia.com/state-of-sports-media-2024-report/.
