Fantasy sports have now become the feature of most of the major editorial companies worldwide. This is a significant part of their long term strategy devised for their company. They are becoming an extremely valued asset for the industry as they have a major portion of the sports consumer population under their hood.
A unique medium for the media industry:
There are numerous media companies around the world who have already started to use the potential of the fantasy sports industry as a unique medium for their business. Yahoo News is the first media company to start a fantasy football league. Major media companies like News Corp, The Telegraph, Golf News Net, TSN (Canada) and several others started to follow the footsteps of Yahoo. According to the online survey reports, 60% of fantasy sports players claim that fantasy sports is the reason that they read more about sports.
The major media houses which include newspapers, magazines, news channels, etc are providing highlights news, tips and suggestions about fantasy sports. This was initiated with the aim to keep the readers engaged and to reach a wider group of people. Fox Sports provides an online portal in which they offer draft guides, analysis of fantasy sports platforms. News and magazine portals also introduce their whole new experience of fantasy gaming for their readers.
A unique medium for brand promotions:
Fantasy sports companies continue to get attraction from other companies for their brand promotions. However, some companies prefer to advertise on fantasy sports websites while others created their own platform by approaching a fantasy sports app development company with the hope of getting exposure for their company’s brand. They also started to make revenue by organizing tournaments on their fantasy sports app. The one primary factor all these companies lack is the integration of these ideas into their brand’s website.
One of the most common reasons why most of the companies started to quit the fantasy sports app industry is because of the fact that their customers started to feel the lack of simplicity in the design and looks of the brand’s app. Although they provided unique features in the app, the customers lost interest gradually in the long run. This is the reason why several companies never tried to bring back their app into the fantasy sports app industry.
Why does the media consider fantasy sports as a hot tool for their business:
Consider these demographics
- The average annual spending of a fantasy sports player is $556 per player.
- More than 50% of users are between the ages of 18 and 34.
- The all-time favourite fantasy sports worldwide is American football.
- 39% of fantasy sports players primarily use a mobile device.
- Fantasy sports players that pay league fees are 70%.
- Forbes has projected that the entry fee growth of the fantasy sports industry will surpass $ 14.4 billion by this year.
Media houses are investing in a considerable amount of resources available for them to focus on the fact that digital consumption is a profitable source of revenue that is driving the present market. They also firmly believe that focusing on digital consumption is the key to successfully run a business in the long term. Apart from media companies, several other industries have started to adapt their brand with the fantasy sports app to stay ahead of their competitors. Several entrepreneurs around the world have started to make use of huge potential by developing their own fantasy sports app software.