TL;DR
- Mike Chioditti, VP of strategy and business development at Endeavor Streaming, answers some questions about what’s top of mind for the industry and what he suggests looking for at NAB Show.
- Chioditti will appear on the panel Score Big! How to Keep Sports Fans Loyal and Hooked, discussing innovative trends for effectively engaging sports fans.
- Add the Core Education Collection: Capitalize Series to your registration to gain more insights.
Endeavor Streaming Vice President of Strategy & Business Development Mike Chioditti will address the NAB Show session Score Big! How to Keep Sports Fans Loyal and Hooked, part of the Core Education Collection, on Tuesday, April 16 at 1:30 p.m.
The panel will be moderated by nScreenMedia Chief Analyst and founder Colin Dixon. Chiodotti will be joined by speakers Vishal Parikh, LiveLike Chief Product Officer, and Tramon Thomas, Phoenix Suns VP of Digital, Social and Creative.
Attendees will learn how sports organizations and media companies are employing campaigns and engaging initiatives to successfully build community, strengthen brand and team loyalty, and create interactive experiences that keep fans coming back.
Here, Chioditti examines how changes in streaming have translated into shifts in monetization strategies for rights holders in the world of sports media.
What are the biggest trends impacting the community/industry right now
Mike Chioditti: Across the industry, we’re seeing an increasing emphasis on monetization as well as the emergence of “membership” models. In prior years, many rights holders were focused on the basic blocking and tackling required to stand up a streaming offering. More recently, rights holders are now viewing themselves more as media brands in response to the evolving landscape. Forming a comprehensive direct-to-consumer strategy has become an essential part of an optimized media strategy.
This maturation has led to revenue growth strategies such as the integration of advertising, the introduction of premium tiers, and more thoughtful windowing between distribution channels. In addition, direct-to-consumer is increasingly being used as the foundational layer for broader “memberships” that rewards desired fan behavior (e.g., viewership, live game attendance, engagement) and integrates various assets from throughout a rights holder’s ecosystem (e.g., access, exclusive content, merchandise, tickets).
What challenges does the community need to overcome, because of these trends?
The industry needs more standardization in terms of requirements, integrations, pricing, and packaging. For example, rolling out advertising can be a time consuming and complex process to determine what technology and resources are necessary – and inconsistent commercial terms can make it difficult to compare the pros and cons of various options.
What’s one thing you wish more media pros knew about?
Just speaking for myself – I think media pros would benefit from spending more time clearly defining and prioritizing their organizational objectives internally and then form their strategy accordingly.
Often an organization will look to prioritize both reach and revenue at the same time, however this can lead to targeting the wrong KPIs and a misalignment in approach.
What are the top three things that attendees should go hunt down on the show floor to expand what they just learned in your sessions?
Streaming has emerged as a fundamental part of a rights holder’s strategy. I recommend attendees speak to the streaming experts to see what role it should play in your growth strategies.
AI is also going to be integral to personalization, while advertising will be key as more dollars transition from linear to digital.
What discussions should they be having with the exhibitors?
Attendees should be asking the experts “How can these emerging technologies improve my business, and what is the cost or lift to implement them?” Those factors will be key to implementing a successful digital strategy that meets their needs and objectives.
