Sport and Entertainment is big business. Traditional leagues powerhouses such as the
NFL, NBA and the English Premier League turn over billions of dollars every year. The rise of new leagues such as the
Indian Premier League commanding billions in broadcast rights and the fast emergence and commercial potential in adventure sports and mass engagement has created a huge consumer market. Add to the mix the immense
rise of eSports, at an increase of 38% and now
generating over $900 million in revenue and the commercial opportunity in this space is increasingly fertile.
Investments in the sports technology ecosystem by venture capital and private equity are booming. Since 2012, investments in sports-related start-ups have been growing nearly 30% year over year. Technology in sports is dramatically changing how athletes train for competition, how fans view sporting events and the ways that fans engage with their favourite teams.
The sports industry in the U.S. alone is projected to reach $75 billion by 2019. Sports fans are obsessed with their favourite teams and spend long hours and significant dollars watching and tracking performance. As a result, technology that allows fans to more easily track team and player performance comes with an automatic user base with high retention rates. In the sports business, the customer is easily identified, extremely passionate and spends significant dollars to support that passion. Fantasy sports and eSports have become a significant piece or the sports ecosystem. Technologies that allow fantasy league participants to compile and analyze in-depth statistics are truly valuable.