3 Game-Changing AI Trends for Sports Content
Summary:
- AI in the sports industry has gained momentum thanks to new technologies like generative AI.
- As sports organizations scramble to understand how to apply AI, we’ve seen the most practical starting place is ingesting AI into their content operations.
- Adding AI to the workflow of content operations opens up new forms of content to engage with fans, reach new markets, and unlock revenue-generating opportunities.
The fusion of artificial intelligence (AI) and sports has grown incrementally. But with recent headlines around generative AI, the buzz has permeated every corner of the business world, especially in sports. In fact, global artificial intelligence in the sports market was valued at $1.4 billion in 2020 and is projected to reach $19.2 billion by 2030, growing at a CAGR of 30.3% from 2021 to 2030.
As many try to come to grips with how to apply AI to their organization, we’ve found content operations the common starting point. Sports organizations engage with their customers through content, acting as the vehicle they use to expand into new markets and grow revenue. In this blog, we’ll highlight three areas where AI directly impacts sports content.
Enhanced fan engagement with AI content
Let’s start with the top-of-mind topic—Generative AI (GenAI). The sports industry thrives on the passion of its fans. Converting casual spectators into avid followers is key to driving revenue growth, and to do this, you need an efficient content production machine.
With GenAI, sports organizations can extend the use of their content by achieving new levels of scale in creating highlights, play-by-play commentary, and content in other languages to reach new markets. When combined with AI voice technology, the capabilities extend even further.
Teams have already implemented AI voice to field questions from fans with responses in their favorite player’s voices. But it can be used to make the audio experience even more personalized, with fans tuning into a match and selecting the voice they want to hear.
But AI is doing more than opening up innovative ways to engage with fans. It’s also solving more practical problems, such as managing an archive of content.
Revolutionizing content management
Many sports organizations possess vast reservoirs of historical content. Leveraging these often-underutilized archives is now more straightforward, thanks to AI. Digitizing and tagging content on AI platforms gives organizations the power to quickly access and gain insights from their archives.
With features like transcribed audio, facial recognition, and logo detection, AI offers a rapid way to locate and highlight significant moments, irrespective of their occurrence. This streamlined approach ensures that relevant content is always at hand, ready to be repurposed for fan engagement. It also unlocks opportunities to drive greater revenue through sponsorships and licensing opportunities.
Tapping into new revenue streams with AI
With GenAI, past broadcasts are no longer static, archived materials. They can be rejuvenated into curated highlight reels, nostalgic montages, and other forms of engaging content. This captivates current fans and carves out avenues for revenue generation through sponsorships or licensing opportunities.
Furthermore, there’s a rising trend of short-form content, especially among younger audiences. This bite-sized content format is not just about brevity; it offers an ideal platform for strategic advertising. Coupled with AI’s ability to generate personalized content, it amplifies its potential for revenue generation, ensuring both fan engagement and brand visibility.
Closing thoughts
The interplay of AI and sports is not just a fleeting trend; it’s setting the stage for the industry’s future. With AI as a means to enhance and automate content operations, sports organizations can do more with their content. Those that adapt and harness these AI trends today can expand into new markets and demographics, thereby growing revenue more effectively.
Further Reading:
7 Ways Sports AI is Transforming the Industry
Veritone Renews AI and Monetization Partnership with U.S. Soccer
Sources:
Allied Market Research: Artificial Intelligence in Sports Market Expected to Reach $29.7 Billion by 2032