As sports slowly start coming back, the smart teams are ramping up technology and innovation investments to make up lost revenue and engage fans in different ways.
Juan Iraola, Real Sociedad’s head of digital transformation and innovation, said: “The objective is to change, a little bit, the sponsorship model connected with the kit. Right now, we have to attract big brands to pay big money for TV audiences. Besides this, we try to connect brands, whether international or local, to promote their product. We have right now a huge inventory of digital assets full of fans and empty of sponsors. What an incredible paradox because, right now, the stadium is full of sponsors and empty of fans."
There will also be a need to engage fans outside the venue as social distancing measures will slow down entrance times. 5G, Wifi, AR, VR, Video/Audio-streaming to smartphones etc are all opportunities for fans to be engaged and generate revenue. Teams need to look at these potential issues and logjams and see that there is opportunity to grow and then make the right technology investments to succeed.