Sports Laws and IP Themes Trending in 2017
The face of sports betting encompasses far more than bets and sportsbooks like sports laws. The latest sports law and intellectual property rights trends are constantly evolving. With the introduction of media platforms, live betting, live content, laws and regulations arise in which to govern. In light of these trends and themes that prevail in 2017, new frontiers are achieved take for example, eSports.
In the event that you weren’t aware of the sports laws and IP themes that are trending, there’s a lot of action. For one thing, social media has evolved a new breadth of social media rights. Moreover affecting sports-focused social media platforms sprouting up. In regards to laws and themes trending in 2017, the following are at the forefront making headlines.
Discussed herein are laws pertaining to sports that are the most considerable and noteworthy to date. With this in mind, the sports betting industry is by and large evolving with the times. With attention to also a particular time in sports betting. For example, take into consideration the effect of rapidly evolving media rights. Or moreover, a crisis in sports governance and disruptive technologies. Furthermore new market entrants and revenue streams interacting in the market place.
1. Social Media Rights
Live sports rights are being bid on by social media giants. Take for instance, Twitter’s purchase of PGA Tour rights for 2017,following on from their NFL Thursday Night streaming deal in 2016. Furthermore, Facebook, with 650 million sports fans strives to be a ‘video first’ company hosting over 8 billion video views per day. In addition, in 2016 it launched Facebook Sports Stadium for NFL which has football, basketball and other sports to follow in suit.
Overall rights owners rights owners are constnantly seeking to find the right blend between social media deals and traditional media as well as the right balance between distribution, exposure and revenues. The availability of rights not necessarily the costs is a problem for social media platforms. In addition, many sports are experimenting with their own OTT ‘Over the top’ streaming services. Furthermore, specialist sports-focused social media platforms are coming up, delivering content, sometimes without content licences.
2. Live content and sports ‘snacking’
By and large, ‘Snacking’ on sports content is increasing since millennials and centennials prefer video on demand and mobile digital content. In sum, ESPN has lost an estimated 9 million subscribers in the last 3 years. Similarly Sky Sports reportedly experienced a 19% reduction in Premier League football viewing figures. In the long run, many sports bettors consume sports content in short stints. Typically through various channels such as blogs, vlogs, news sites, live streaming and social media platforms like Twitter and Instagram. For example, the number one method of consuming sports in China is specifically on mobile devices as opposed to TV.
Sports betting ultimately depends on monetizing their IP value so as to survive. Furthermore innovative IP protection policies are required to contend with digital technology. Take for example live, ‘long form’ sport which is still one of the few ‘appointment to view’ opportunities.
Overall the trend leans towards a consumer centric, on-demand engagement. Generally speaking, the challenge for sports betting is not just financial. To further illustrate in terms of control over the underlying IP value in sports content, the risk of reductions in media rights fees may mean that broadcasters invest less heavily in live sports rights.
3. Live Betting and Data
First and foremost, the sports betting market is valued at over $50 billion. It’s literally driving the value of live sports data even higher. However only a tiny fraction of betting revenues is actually being paid to the organizers of the events in which the bet is being made. On the whole, the in-play betting revolution generated a mighty windfall for some sports rights owners. To be sure, 2016 was a record year for ‘official data partnerships.’
Rights owners need to execute modern strategies to protect and exploit their data. As more rights owners realize they can’t ignore the opportunity and need to protect it in order to compete. This trend of live betting and official data partnerships is indeed a theme of 2017.
4. Governance and regulation
Another key point to consider is, should the ‘governments’ of sports, in other words, the international and national governing bodies own and control their commercial rights? It’s important to consider in regards to franchises. For example, the NFL, Premier League, Formula 1, UFC, and the World Surf League effectively in the private sector. As well as the FIFA World Cup, UEFA Champions League and Olympic Games all of which are owned by their constituent sports associations.
Some don’t believe sports should be mitigated and controlled by private interests. Furthermore, major governing bodies have come under intense review for devastating failures in governance. As a result causing damage to their reputations in regards to their public and major brand sponsors, as well as a decimation of trust in the sports establishment at large.
Esports teams are expected to generate over $1 billion dollars by 2018. Obviously this provides almost limitless opportunities for new IP creation. Furthermore investors cannot only own the format, they can also set the ground rules and thus, control the commercial rights.
By and large, sponsorship and betting play an increasing role in the revenue model of esports. As the regulation of the sector increases, so too does the commercial value of the top talent. In addition, some of which earn over $1 million a year from simply playing video games.
Generally speaking the area of integrity remains high on the agenda for sports laws for 2017. Specifically with regards to betting-related cheating and match-fixing, and doping. Furthermore integrity is closely tied to governance, data and betting.
For example, in regards to tennis, an Independent Review Panel is due to attest on anti-corruption protocols, structures and resources in Q1 2017. However, the action taken by the governing bodies in regards to integrity was largely inadequate in addressing the problems of per say match and spot-fixing. As a result, this is still clearly an area for investment as well as ‘root and branch’ reform and in many more sports than just tennis.
In addition, the bidding for major tournaments are certainly in need of an overhaul. For instance, FIFA president Gianni Infantino recently announced that a “bullet-proof” bidding process will be drawn up for the 2026 World Cup. Does FIFA perk your interest then learn more about What is FIFA’s Early Warning system?
7. Personal data and Wearable tech
The issue of wearable technology for the first time in the sport was recently announced as an tentative agreement between the NBA and the NBA Players Association. For example, real-time biometric data which serves both coaches and fans. Furthermore a partnership emergeed in cycling between Velon and GoPro features on-bike camera. This in essence has given viewers a unique perspective of the Tour de France.
China is a giant in the international waters of the sports industry. Chinese interests have substantial acquisitions of agencies from Infront to M&P Silva. In addition they have properties like Ironman triathlon for instance. Furthermore, they have invested in European football clubs and top players. Essentially the Chinese are great at seeing trends and capitalizing on them.
For example, the Chinese sports investment bandwagon has forged partnerships between Alisports and World Rugby and FINA, and Wanda and TenCent with FIBA. As well as Alisports’ launch of major new eSports tournaments. The opportunity presented by the surge of Chinese interest in sports is monumental. Notably the Chinese media and investors do so in order to accelerate their investments in the sports industry. From know how to asset base to accelerating the capture of market share.
9. Niche sports/New formats
All in all, the market spread of sports betting can go from pro surfing and skateboarding, to the UFC and esports. Overall however the minority, niche sports are largely in demand. By and large, digital and social media is a massive driver. Largely it enables the delivery of high-quality live streaming and other content to global audiences.
In essence, the network effect of fans being able to interact with athletes while sharing their views and content via social media is exciting. In the long run, there’s a tendency in the more mainstream sports towards new formats. For example, events like Usain Bolt’s Nitro Athletics, Indian Premier Futsal, as well as Twenty Twenty cricket competitions.
As a result these projects yield new sets of commercial rights and IP. On the whole, they largely need to be disentangled from existing legal and contractual commitments. To be sure, as new niche sports become part of the Olympic family in 2020 and that in itself is something to look forward to.
Trending Sports laws and themes of 2017
Keeping up to date on trending sports laws and themes of 2017 is relevant to sports betting. Furthermore it pertains to the sports bettor, the sports book and the industry at large. So as to keeping punters informed on what’s going on in the sports betting industry. Consider all the ways in which you can immerse yourself consistently in sports betting and your appreciation for the game will increase.
Improving your overall comprehension of sports betting starts off with exploring sports betting lingo and vocabulary. Other ways so as to give yourself an upper hand in creating a successful betting system is to watch Youtube sports betting channels as well as sports betting documentaries.