FinancialBuzz.com News Commentary
New York, NY (4/8/2021) – Traditional sports broadcasters now face stiff competition from
social media and streaming video services. Many of these new technology service providers have secured deals to stream live sports events, challenging the traditional broadcasting of sports. Sport leagues have found that it is crucial for their business models to balance the needs of fans who primarily view traditional broadcasts and those who prefer the digital platforms. Now, due to the pandemic and the financial hit taken by many sport leagues, the penetration of social media and streaming services into the sports industry has accelerated. According to a report by Deloitte, with the pandemic likely to remain a major challenge throughout 2021, it is important for sports organizations to invest in multichannel digital solutions (everything from streaming platforms and augmented or virtual reality to artificial intelligence and “virtual fans”) that can influence fan behavior and boost their level of year-round engagement. DGTL Holdings Inc. (TSX-V: DGTL) (OTC: DGTHF), DraftKings Inc. (NASDAQ: DKNG), Activision Blizzard, Inc. (NASDAQ: ATVI), Allied Esports Entertainment, Inc. (NASDAQ: AESE), fuboTV Inc. (NYSE: FUBO)
Having to innovate in these hard times, one of the biggest sources of revenue for many U.S. sports organizations this year could be data monetization, mainly in the areas of fan engagement, player and team performance, and sports betting. “In terms of fan engagement, data-driven platforms and artificial intelligence can help organizations sense the sentiment of fans, analyze the data to better understand fan behavior, and then connect with fans in ways that generate a better fan experience and new sources of revenue,” Deloitte explains.
DGTL Holdings Inc. (TSX-V: DGTL) (OTCQB: DGTHF) announced yesterday breaking news that, “its wholly owned subsidiary, Hashoff LLC, has activated a new mobile social content campaign for a Nasdaq-listed Digital Sports Gaming and Entertainment brand.
As the second campaign activation stemming from this new SaaS licensing agreement, this contract is valued at $75,000 USD for a one-week campaign (plus monthly software licensing fees). Hashoff will activate both self-serve and managed-service products for the campaign, which will create and distribute client-branded multimedia mobile social creative content with a 2021 PGA Masters theme.
The PGA Masters campaign was awarded following the successful completion of a similar video-based social media content campaign for this client targeting the NCAA March Madness tournament. Additional social media marketing campaigns surrounding other major sporting events are anticipated from this client within the coming months.
With a current market capital of over US$25 billion, this Nasdaq-listed client is a global leader in developing and marketing fantasy sports and mobile sports betting applications, which allow users to enter and bet on sports-related contests, tournaments or fantasy sports leagues.
These gaming applications cover nearly all major professional sports leagues around the world, including the NCAA, MLB, NHL, NFL, NBA, PGA, Premier and UEFA Champions League soccer, NASCAR, Mixed Martial Arts (MMA) and Tennis, etc.
Charlie Thomas, acting CSO of Hashoff, reports, ‘We are thrilled with the results of the NCAA March Madness campaign and are pleased to have been awarded management of the PGA Masters tournament campaign. As noted, Hashoff is striving to achieve a leadership position in video-based social media content marketing, products and services for tier one brands within the global digital sports entertainment and gaming sector. We look forward to future work in this area with our partners in the sector.’”
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DraftKings Inc. (NASDAQ: DKNG) announced this week that it has acquired Blue Ribbon Software Ltd., a Tel Aviv-based leading global jackpot and gamification company (“BlueRibbon”) that provides platform-agnostic, real-time gamification tools that allow for fully customizable jackpot promotions. DraftKings will now be able to enhance the customer experience by integrating BlueRibbon’s unique jackpot functionality, including personalized promotions and rewards tailored to the individual customer or jackpots that pay out across DraftKings’ various product offerings. “We created BlueRibbon to give companies the ability to differentiate themselves within the highly competitive sports betting and iGaming industries with unique and innovative marketing platform,” said CEO Amir Askarov. “Joining DraftKings will allow us to continue to build our platform to enhance the player experience and to strengthen our Tel Aviv-based team.”
Activision Blizzard, Inc. (NASDAQ: ATVI) announced last August, the appointment of Major League Baseball’s Tony Petitti as President of Sports and Entertainment effective August 17th, 2020. In his new role, reporting to Activision Blizzard CEO Bobby Kotick, Petitti will oversee esports, consumer products, and film and television. “Tony is one of the most highly regarded executives in sports and entertainment,” said Bobby Kotick, Chief Executive Officer of Activision Blizzard. “His success in media and as Deputy Commissioner and Chief Operating Officer of Major League Baseball is the perfect blend of skills to help us realize our aspirations for esports and our related businesses. He is admired by owners, media executives, players and fans.”
Allied Esports Entertainment, Inc. (NASDAQ: AESE), subsidiary Allied Esports announced on March 23rd, that it has teamed up with Xsens, a global leader in inertial motion capture products, to bring live animated casters to a professional esports tournament production for the first time. “As gaming and esports viewership continues to grow, we need to push the boundaries of competitive content to provide new and engaging viewing experiences for our audiences and partners,” said Jud Hannigan, CEO of Allied Esports. “We’re thrilled to make history again with the Legend Series and use Xsens’ innovative motion capture animation technology to create a first-of-its-kind broadcast experience in esports.”
fuboTV Inc. (NYSE: FUBO) and Marquee Sports Network announced on March 31st, a carriage agreement that will bring Chicago Cubs game coverage to the leading sports-first live TV streaming platform in the coming weeks. “As we kick off the hotly anticipated 2021 baseball season, fuboTV is thrilled to bring consumers Marquee Sports Network’s extensive coverage of the Chicago Cubs,” said fuboTV’s SVP, Content Strategy and Acquisition, Ben Grad. “The addition of Marquee Sports Network to our leading sports, news and entertainment portfolio makes fuboTV a great streaming choice for Cubs fans, as well as other Chicagoans looking to cut the cord.”
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