The latest news of Amazon Prime’s sports streaming expanding with more ATP tennis live streaming rights is an indicator of the changing face of the broadcast medium. While media rights have become the biggest source of revenue for prime sports properties, broadcast television networks are faced with the fast emerging competition from digital platforms.
The Amazon deal includes all the ATP World Tour Masters 1000s, twelve of each of the 500s and 250s, and the Next Gen ATP Finals.
Social media platforms Facebook and Twitter have made big strides in the direction of digital broadcast. Facebook had placed an unsuccessful $ 600 million bid for the Indian Premier League digital rights for five years. The Mark Zuckerberg-owned social media company is ready to make big investments for to get its hands on must-see sports content.
A 63% percent of Amazon’s Prime Video subscribers in a survey have responded to have seen video content on the platform in the past one year. With more marketing, new content and better presentation the numbers are bound to increase.
Twitter recently signed new deals to stream several sports leagues and an entertainment convention, strengthening its overall push into the live streaming category. Video has been Twitter’s major ad-revenue generation format. The company is monetizing live streamed content with in-stream ads, including pre-roll and mid-rolls. Other than the additional ad revenue generation, additional live streaming rights also help Twitter to boost user engagement.
The digital platforms have been investing heavily in live sports and other video content.
“Broadcast journalism is all about availability on priority. Live streaming has a certain edge over television broadcast. With the fast evolving mobile technology and rapidly increasing bandwidth, a viewer no more is frustrated with that irritating buffering. You don’t have to rush home or amend your schedules to catch with the live action of your choice. You get the video on the go. That is the strength which will define the future of television broadcast,” adds Sporty Solutionz Chief Executive Ashish Chadha, media rights and broadcast veteran. “This is going to improve further. The tech heads are realizing this potential for IT, mobile and broadcast. The future market for them lies there. That has become their area of prime concerns.”
Amazon had paid nearly $50 million to stream 10 Thursday night NFL games for the 2017 season, eclipsing Twitter’s $10 million deal in 2016. The 50% rise in digital rights over a period of just one year is a strong indicator or the digital media strength and demands. Even as conventional television is here to stay, the digital medium players backed by strong tech advances are giving enough indications that future belongs to them.