OTT video services are taking the sports world by storm, securing rights to football, tennis, American football and more. It was announced yesterday that from the 2019/20 Premier League season, 20 matches will be streamed on Amazon after the tech giants purchased the broadcasting rights packages, which is a landmark move for the game.
OTT services have been dipping their toe into the sporting industry for a few years, but recently many have stepped up their game and seem to be making sports streaming a key focus for their online video service.
Similarly, many sports organisations such as Formula 1 are now launching their own OTT subscription services, bringing content direct to consumer for the first time. La Liga for example, is planning to create its own multi-sport streaming service which will offer both on-demand and live content that will include the top three tiers of Spanish football as well as a broad selection of other sports content.
What does this mean for customers?
Sports lovers will need to dig deeper into their pockets, with many having to take on multiple services to watch their favourite teams and athletes. Premier League fans in the UK will soon need to sign up to Sky Sports, BT Sports and Amazon Prime to be able to watch every match. This is similar in tennis, with fans needing to sign up to Euro Sports, Amazon Prime and BT Sports to watch all tennis leagues and competitions.
What does this mean for broadcasters?
Many broadcasters are facing the reality that consumers are spending more and more time on OTT platforms and cancelling traditional services. They know they must take a different approach, be more proactive and innovative in order to reach and engage with their customers.
In our recent research which surveyed over 3000 consumers in 3 countries, 17% of consumers reduced their TV spend elsewhere when taking on a new subscription in the last 12 months. If more and more OTT providers gain rights for sporting events, sports fans will be torn between upping their overall TV spend and cutting or reducing spend elsewhere when signing up to a new service.
Broadcasters need to work harder to improve customer experience, as this is key to keeping customers. It’s clear that operators can no longer simply rely on content to acquire and retain subscribers. Consistently providing the best experience possible across the full customer lifecycle can win loyalty, boost revenue and help operators stand out in this competitive market. Our recent shows that 87% of respondents would be more loyal to a TV service provider that was proactive in ensuring their package and price are always at the best level for them.
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Download our research paper to find out what customers are looking for from their TV providers and where operators are going wrong or contact us today to see how we can help you stay on top of customer experience.