Digital technologies have dramatically altered the sports, media and entertainment industry. The combined power of the mobile, cloud, analytics and artificial intelligence has opened a wide array of new opportunities as well as challenges for the organizations operating in the field of sports, media and entertainment.
Proliferation of smartphones and the rising popularity of social media channels have accelerated the pace with which content is being created and distributed among people. It has also reduced the cost of content creation and distribution. As a result, there is an overlap between content creators and consumers. Consumers have also become producers of content, and everyone is part of an infinite loop of creating and consuming an ever-growing list of online goods and services. Traditional companies engaged in sports, media and entertainment services have to identify innovative solutions to address this challenge.
With the on-demand economy changing the way companies conduct businesses and manage their supply and delivery networks, sports, media and entertainment companies can no longer depend on their traditional business models. They need to understand their customers better. They need to discover ways in which their content and service offering can match the customers’ tastes and demand. While this may seem like an uphill battle, with the right set of technologies and solutions, companies can unlock the hidden opportunities and improve costumer intimacy and operational efficiency.