As baby boomers begin to die off, and Generation X ages, millennials are slowly becoming the majority of the industry’s target audience. They are a very valuable audience and needless to say that they are responsible for major technological disruptions. And when we say that we refer to live sports.
Millennials have certainly played a great role in the way we use technology nowadays with VoD, live streaming and social media, which by far are the most notable changes in the way humans see the world today.
They have grown up with smartphones in their hands, bought and ordered clothes online, so their behaviour shows us that they seem to always look for a value (quality vs. price). Most of them would even pay more to get a better quality of the things they want to have. Plus flexibility and the love for the online world have also played a great role in terms of embracing online video. Compared to other generations, millennials are more into online content than anyone else. In fact, according to Forrester, 7% of adults under 32 years of age are digital cord-nevers, never having paid for TV.
But, not let’s take into consideration live sports as part of the entertainment. Live sports have always been a big deal, especially because there is no one in this world who doesn’t like at least one sport, plus it’s an occasion that brings people together and, of course, it’s entertainment. Live sports offers have changed a lot to meet the needs of millennials as the way these events are consumed by today’s generation is different. It seems that now they seem to be almost addicted to watching live sports.
According to a recent analysis, provided by Eurodata:
- In the US, the Super Bowl is unsurprisingly the no.1 live sports event with 24.5M young viewers.
- The handball WC was the most popular sport event for French young viewers
- The Champions League was a big deal in Spain.
Looking at the numbers, we can say that live sports are becoming more popular than they’ve ever been among young adults and needless to say that the next generation is going to love sport events even more. Referring to the supply side, the mainstream sports are trying out more flexible ways to reach their audiences like pay per view and subscriptions. Even though the price to offer a high-quality sports package below the Pay TV price seems quite difficult, we can still expect that to change as the market evolves and OTT scores high in other entertainment segments.
This just goes to show that live sports are here to stay and they’re not going anywhere. Who knows what the future of entertainment will bring us.