Sport faces 'tipping point' as youth ditch live coverage
The sport industry is at "a tipping point" due to declining interest in watching live sport among young people, experts have warned.
A recent survey of 3,000 fans' habits reveals that only two-thirds of global sporting enthusiasts actually watch matches live, with a significant majority preferring content other than live sport. This trend has led to concerns among 65% of 220 global sporting executives over the relevance of live sports to younger fans.
Changing media habits and financial accessibility issues are contributing factors deterring youthful fans from watching live coverage.
Altman Solon Partner David Dellea described the situation as "seriously problematic," stating that short-form content cannot replace the unique commercial value of live sports. "We've reached the tipping point where content originally created to generate interest in the games has become as sought after as the games themselves."
The survey underscores that for English fans, subscribing to Sky, TNT, or Amazon Prime to watch all Premier League games can be a costly affair, with prices ranging from nearly £310 to over £650. In contrast, French, German, and Italian fans face lower subscription costs.
However, the study also found that 56% of respondents would watch more live action if accessibility improved, and 43% expressed their interest in sports but were unwilling to pay for it. Conversely, 60% of participants maintain an interest in watching live sports.
Despite these challenges, Altman Solon Director Matt Del Percio pointed out that overall interest in sports remains strong. Live sports continue to attract networks and streamers, but now, it is essential to elevate adjacent content and monetize it independently.
Age-specific trends also shed light on the issue, with different countries witnessing varying levels of interest across age groups. The UK and US saw an increase in live action interest as age rose, while Germany maintained similar levels of interest throughout various age groups. Saudi Arabia experienced a peak among middle-aged fans, whereas China witnessed a dramatic spike up to the 35-44 years-old age group before a steady decline.
As experts caution that the sport industry is facing a "tipping point," stakeholders must reevaluate their strategies and prioritize adapting to these changing viewer habits in order to avoid irreparable damage to the commercial value of live sports.