In an era where Millennial and GenZ consumers are reshaping market trends, businesses and Not-For-Profits must adapt their offerings to meet these evolving preferences. This is especially true in the Sports and Entertainment Industry, which is witnessing a significant shift in its consumer base.
Historically, the sports media landscape was dominated by free TV coverage, a model that thrived on the alignment of corporate media companies, consumer retail brands, and sports teams. This era, however, offered limited input from the actual fan base. Viewers had little choice but to accept the content provided, with their only recourse being to switch off unappealing programming.
The advent of cable technology disrupted this model, reshaping the industry at the expense of fans who now had to pay for sports content. This era did introduce more interactive elements like call-in media formats, allowing fans some influence over the content. Despite this, content development, ownership, and distribution remained firmly in the hands of large media production companies and sports organizations.
Today, Millennial and GenZ consumers are increasingly gravitating away from traditional, dictated content towards a model of fan-based ownership. This shift has paved the way for fan-based media companies, adept in social media production and marketing, to emerge and thrive. These startups, fueled by passionate entrepreneurs, are creating communities centered around their content production and delivery.
BCFF stands as a prime example of these new-age media entrepreneurs disrupting the sports media sector. Their approach resonates strongly with a fan base that is increasingly consuming content through social media rather than traditional channels.
Link: BCFF
A survey by Morning Consult highlights this trend, revealing that nearly half of the fan base in this sector has not attended a live game, instead receiving a significant amount of their sports content through social media platforms. This underscores the importance for sports owners and advertisers to recognize and engage with these new market players.
BCFF‘s model, which prioritizes fan engagement and content accessibility, is a testament to the changing dynamics of sports media consumption. It is a clear indicator that the sports and entertainment industry must evolve to meet the preferences of its younger audience, making businesses like BCFF not just relevant but essential in today’s market.
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