Things are going to change for sports trending globally in 2024. You might not like the way things are now, but keep your eyes open. You may miss that touchdown otherwise. Moreover, you could miss out on that game-winning goal without hitting the snacks first. Keep your eyes peeled for now to these predicted trends and follow BET999 to bet on sports live.Â
Seven Sports Marketing Trends to Watch in 2024
Technology
As technology advances, so does the use of AI. Don’t worry. That’s not implying an AI is going to rip Crosby from his jersey. According to reputable sources such as Sports Business Journal, there will be large changes in the world of sports sponsorship.
Sports wouldn’t get by without the brands that sponsor them. It’s kind of a win/win situation for both. Moreover, it is predicted that in 2024, sports sponsorship is going to head down the digital pathway. Some of you might think this is a bad thing, but the younger generation will be all over the more interactive way they’ll see their favorite players.
Market Sharing
We’re going to dive into this pool together. According to American Statistics, the total sports market is expected to reach over 19%, leaving room for a massive growth spurt of nearly $4B USD by 2027. Who cares? This is about 2024. Please note and recognize that approximations reflect the Russian-Ukraine war.
Live Source
The global market thus far for the average sports enthusiast is the ability to watch your favorite sports on a simple cable bundle. That’s no longer the case for sports lovers. The Cable News Network (CNN) announced that live sports events will be hosted on the CNN-Max new cable network.
It stated that the package will cost $9.99/month with the first month free. CNN also announced that Amazon will own all rights to the critically acclaimed “Thursday Night Football as well as the new “Black Friday Game while Apple hones the rights to MLS and some MLB.
Immersive Training
This concept might have been ruminating in the minds of many sports team owners throughout all sports for years, and it might come to fruition. The purpose of immersive training is to give a 100% authentic training experience.
Through VR (virtual reality), a player is capable of training and time in a real environment set to their position. This course is one of the highest trends for 2024 sports for that reason alone but for its other capabilities. A player can use his/her virtual reality to create their stadium, fans, touch, and even smell.
Online Gaming
Online Gaming in Sports form has been around for decades but is only now veering in a different direction. The America-based GamerSafer wants to put ease to the minds of all by use of verification and authentication. Its sole purpose is to eliminate toxicity, endangerment, and hacking through many methods.
Sports Sustainability
This isn’t the first time those two words fit together in a sentence. However, market trends are skyrocketing the use of this “label” to both enhance and represent a positive message to all.
Sports doesn’t only consist of jerseys and helmets. If you are interested in sustainability sportswear, including yoga gear, hiking gear, and more, here’s how you can put your foot in the door and help meet the trend. Visit CNN Sustainable Activewear for more.
The Paris 2024 Olympics
It only seemed right to end this with the most talked about event in sports and sports lovers in 2024. The organizers of the 2024 Olympics have already sold approximately 70% of their ticket quota. Recently, the President (Tony Estanguet) announced that the committee of sponsorship agreements had reached some $1.1 billion in domestic sponsorships.
Regardless of the sponsorship and the mass talk of the Olympics themselves, there is still some foreshadowing that they have lost some of their luster globally over the last decade due to the pandemic, poor sponsorship, and poor attendance and outcome for The Winter Games.
Has that intervened with companies jumping at the opportunity to sponsor the Olympics despite having to make their difficult priorities shift? No.
The breakdown thus far of the Olympics is quite simple, according to research.
There have been 6.8 million tickets sold as of May 2023, $1.1 billion in what’s known as a domestic sponsorship agreement between a variety of brands, and $1.3 billion in costs, which includes a hospitality deal for the next three games. 600,000 viewers are expected to attend the opening ceremony on July 2024 alone.
The numbers may seem high, but members of the board do expect the departure of their TOP sponsorships to immediately dissipate after the games. Sponsors such as Toyota, Intel, Bridgestone, and Panasonic will expire.
Let’s look at some of the trends that the sponsors are betting their businesses on and how many domestic and international athletes are forecasted as being top showrunners.
- Katie Grimes, Swimming: Katie, though just a teenager, is not one to be overlooked in the freestyle portion of swimming. In the Tokyo games, she posted within two seconds of Katie Ledecky, a much more experienced swimmer. Now, Ledecky has coined them “Katie squared.”
- Caeleb Dressel, Swimming: While Caeleb sits on a seven-year gold medal Olympic accomplishment, he has stated that he isn’t through just yet. Dressel’s 50m and 100m set a world record and set new Olympic records. Is it possible for Dressel to outswim Michael Phelps? Who knows?
- Athing Mu, Track & Field: At only 19, Mu left Tokyo with two gold medals since the 53-year gap since an American brought home a gold in just over half a second.
- Konnor McClain, Gymnastics: Konnor has gifts unlike some others, and many believed that she would compete in the Olympic Trials in 2021, but she didn’t. This was a choice that Konnor, who hails from New Jersey, made herself. As her decision, she wanted to hone her skills more before competing in the trials for the 2024 Olympics, and she will be ready to watch and ready to take home that gold medal.
Final Thoughts
There are many marketing trends for sports, especially in 2024, given the Olympics. There is technology that enables you to feel like you are there, virtual reality that you can use to see how an athlete trains, you can buy sustainable sportswear, and you can practice for your own Olympic trials. How are the sports market trends looking for you? Looking for more engaging content? Click here to learn more about MetaMask.
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