https://www.sportstechgroup.org/wp-content/uploads/2020/09/27-WINNERS.pdf

It seems that however experienced in business you might be, there’s always a new term or acronym that comes along to stump you. If you are a start-up business, especially one navigating its way through this minefield for the first time, this can be especially baffling so here’s an A to Z of terms, put together by our friends at Sightline Ventures, that it will pay you to get to know.

• Accelerator: a place where start-ups are offered mentorship, office space, education and sometimes funding
• Accredited Investor: a wealthy individual who could put funds into your business
• Advisory: industry terminology meaning advice
• Annual Revenues: how much income your company achieves each year, commonly known as ‘turnover’ in the UK
• B2B / B2C: this refers to your target market and means whether you sell to businesses (ie B2B) or the public (ie B2C)
• Beta Product: pre-release product which has been tested in-house and is shared with selected third parties before being put on sale / made widely available
• Bootstrap: a way of funding a young business through securing money from family, friends or personal savings
• Bottom Line: a company’s income after all expenses have been deducted from revenues
• Burn Rate: how quickly a company is getting through its money
• Business Development: essentially this is sales but goes beyond simple transactions insofar as it is also about creating longer-term, meaning relationship with future business prospects
• Churn Rate: the annual rate at which customers stop buying your product / fail to resubscribe
• Competition: other businesses which create an identical, similar or partially competition product
• Pitch Deck: a presentation document that provides an overview of / markets your business
• Exit Strategy: the timing and style of how you sell your business
• Financials: most commonly this refers to three core figures: annual revenues, sales and profit
• Fundraising: this isn’t just about getting money, it’s about the type of money you raise – ie investment via shares or debt from loans
• Hockey Stick: this is a way of describing business growth meaning after a short period of establishing themselves, businesses hit a turning point and achieve sustained and significant income
• HNW: High net worth – ie rich people!
• Incubator: see ‘accelerator’
• Initial Validation: this is where a business or software has undergone research or testing to prove it is viable
• IP: this means ‘intellectual property’ – ie something which has been created by a person or business that is legally assigned to that entity via patents, copyright or similar
• Iterate: this is the process of refining a proposition
• M&A: meaning ‘mergers and acquisition’, this is a catch-all phrase that relates to the consolidation of companies or assets through financial transactions
• Market Opportunity: the identified need of businesses or consumers for a specific product or service
• Market Penetration: how to achieve sales into a defined market sector
• MVP: meaning ‘minimum viable product’ this refers to the initial stage of creating a workable and marketable version of a commercial product or service
• Pivot: to pivot is to alter a company’s business strategy in order to accommodate changes in its industry, customer preferences, or any other factor impacting the bottom line (see bottom line)
• PMF: meaning ‘product market fit’, which means does a company’s output meet the needs of its target market and does so better than its competitors – for many investors this determines the attractiveness of a young business
• Proposition: this is what your business offering is
• ROI: meaning ‘return on investment’, this is the calculation of the sum repaid relative to the money put in
• Seed Funding: the sum of money needed to launch a new business venture; often start-ups do several rounds of seed funding before seeking series A investment
• Series A: this is usually the first venture capital funding for a business so involves significantly higher amounts than earlier levels of funding
• SIV: this means ‘structured investment vehicle’ – forget it, it’s not for start-ups
• SVP: an SPV is a ‘special purpose vehicle’ which allows multiple investors to pool funds to invest in a start-up
• Sweat Equity: essentially this is unpaid effort by founders or suppliers which is exchanged for a stake in the company
• USP: meaning ‘unique selling proposition’, which the point identified by a business owner as the reason its product or service is different from and better than that of its competition
• Value Proposition: this is how a business is defined and differentiated from its competition
• Venture Capital: this is funding from businesses which provide private equity to young businesses with long-term potential

If you have a great, young sports tech business, you should learn more about The Startups here

Sports Technology Investment Set for Disruption

Sightline Ventures Launches ‘Growth Partnership’ Model

Yesterday (London) three industry executivess, Rebecca Hopkins, Garth Shephard and Martyn Ryan, launched Sightline Ventures. Aimed at sports technology business, the business will ‘support, develop and invest’ young companies with its ‘growth partnership’ concept.

Garth Shephard explained: ‘We’ve created a unique growth partnership proposition which is a hybrid offering advisory and funding, that accelerates the development of a company. We’re ‘stage-agnostic’, so will be equally relevant to start-ups, scale-ups or later stage businesses. We give exciting sports technology businesses access to experienced, sector-specialist consultancy spanning marketing, commercial, strategic, M&A and fundraising advisory, with funding from our own network’  He added:  ‘Times might currently be tough however, as 2021 becomes an ever more ‘golden year’ for sport, companies which undertake good business management now could be excellently placed for next year – but they need the right funding and advice.’

This concept has emerged from the 80 years’ collective experience of the partners:

• Garth Shephard is an experienced corporate finance (fundraising and M&A) professional, who has advised a significant number of technology businesses, including their institutional investors, helping them execute and realise their strategic ambitions;
• As well as being a director of Cardiff Blues, Martyn Ryan holds several non-executive, consultancy and trustee positions across a range of organizations in sports, finance and the arts. His career spanned finance, risk, operations and compliance, primarily at Genesis investment Management where he was a Partner and COO; and
• Rebecca Hopkins is a sports communications professional, entrepreneur and CEO of The STA Group, the international comms, events and consultancy business which celebrates all aspects of tech-led innovations in sport.

Rebecca’s roles in both Sightline Ventures and The STA Group means that there will be strong links between the two companies, she explained: ‘We are all experienced sports sector entrepreneurs but have earned our knowledge in very different areas of the business. As such, we are uniquely well placed to understand the sports market, the technology which best serves it and the challenges businesses face when looking to operate successfully within it.’

To find out more about Sightline Ventures visit https://www.sightline.ventures

In line with current industry thinking, The STA Group, owners of The Sports Technology Awards, has taken the decision – in partnership with our colleagues at The Londoner – to move the Sports Technology Awards ceremony to Thursday 10^th September.

The ceremony is always an exciting, fun and commercially useful evening, largely because executives and investors from the global sports community fly in to meet and engage with their peers. We care passionately about providing an atmosphere where everyone present is confident of enjoying the experience fully and since the current climate doesn’t permit us to do that, we have taken the step of delaying this year’s ceremony accordingly.

All tickets sold are fully transferable and our Commercial Team will be making contact with our network to ensure everyone likely to attend the event is fully informed of these changes. If you have any immediate questions please email us on info@sportstechgroup.org or call +44 (0)20 3150 2080.

You do not have to worry about these changes when booking tickets as everything has already been updated on our ticketing page.

In the meantime, The STA Group team wishes you the best of luck with sustaining your organizations throughout the forthcoming months and hope for happy and healthy times ahead for us all.

Stay safe.

 

93 Brands, 19 Unique Sports and 10 Governing Bodies make the List

LONDON, UK: On 11^th March 2020 the Sports Technology Awards 2020 shortlist was revealed, featuring the innovations and technologies that are now in contention for an internationally coveted STA trophy.

Having received hundreds of entries, from 31 countries, representing 45 sports, 50 industry leaders from sports, technology and business spent approximately 25 days collectively determined which were the best in 15 individual categories. One again the full shortlist comprises some of sports biggest organizations as well as many of its most visionary, including F1, ASICS, World Athletics, Manchester United and La Liga lining up to contest the silverware against emerging brands such as ShotTracker, WearTech Therapeutics and Let’s Do This.

Rebecca Hopkins, STA Group CEO, said: ‘The range of technology showcased this year, as well as the caliber of organizations participating, has been outstanding. The Sports Technology Awards are a highly prized, globally respected mark of excellence but this has only been possible thanks to our amazingly knowledgeable, committed judges and the support of visionary brands across the international sector. Consequently, it is reasonable to claim that this shortlist is a comprehensive, unique and authoritative representation of what innovations are important in sport. We look forward to announcing the winners at our ceremony on the 10th September at The Londoner, Leicester Square.’

Asha Philip, multi-medalist Olympic sprinter, and Bryan Habana, legendary Rugby World Cup winner and members of the judging panel added: ‘Any athlete serious about their performance embraces technology; we thought our knowledge was good but having seen the range of technologies now out there, as well as how innovative they are, we are staggered by how fast our world is evolving. Being shortlisted is a real achievement given the standard of entries we reviewed.’

The 2020 ceremony will be held at The Londoner, London’s newest ‘super-boutique luxury hotel’ on the hugely prestigious Leicester Square – giving guests the chance to walk the red carpet at an iconic landmark. Gathering to see which brands will win are leading sports industry figures, technology visionaries and elite athletes. Tickets are available through the Group’s Global Ticketing Partner, Ticketmaster Sport, on its Universe platform.

The 2020 shortlist is listed below

Agency of the Year

• Delete
• Eleven Sports Media
• Engage Digital Partners
• Other Media
• Sportsdigita
• WMT Digital

Best Digital Technology

• Blackbird: Ultra-fast Digital Content Creation
• Datapowa: POWA index AI Sponsorship Valuation
• KORE Software: From Data to Insights and Action
• StreamAMG: StreamPlay End-to-End OTT Solution
• VITEC: EZ TV IPTV and Digital Signage
• World Athletics with Creative Technology and Visual Edge Media: VR Event Planning
• Xperiel: Rox Platform Creating Mixed Reality, Gamified and Interactive Experiences

Capgemini Innovation of the Year

• BT Sport: Ultimate Sports Experience
• Genius Sports: GeniusLive Streaming
• Intel and Manchester City FC: Put Fans on the Pitch
• LifeFuels: Smart Nutrition System
• Nielsen Sports: Nielsen Fan Insights 2019
• Teqball: SMART V2 Table
• Wattbike: AtomX Smart Bike

Best Sports Equipment or Wearable Technology

• AfterShokz: Aeropex Open Ear Sports Headphones
• AfterShokz: Xtrainerz Sports Headphones
• Platysens: Outright Rowing Telemetry System
• PlayerMaker: Performance Tracking and Analysis
• SAP with Keytree and Sports & Wellbeing Analytics: PROTECHT Intelligent Mouthguard
• ShotTracker: Performance Tracking and Analysis
• Vald Performance: AirBands Wireless Blood Flow Restriction Cuffs

Best Technology for Elite Performance

• Catapult Vector: Athlete Monitoring and Performance Analytics
• LaLiga: Mediacoach Integrated Analysis Platform
• PlayerMaker: Performance Tracking and Analysis
• Spiideo: Sports Video Recording and Analysis
• Sportlogiq: iCE & PiTCH Camera Tracking Data and Insights
• WearTech Therapeutics: WearTech Tights

Best Technology for Fan Engagement

• Chiliz: Socios.com Fan App
• ELEVEN SPORTS: Watch Together
• GameOn Technology: Chatbots
• International Equestrian Federation: e-League Dressage
• Pixellot and Sporttotal: AI-Automated Sports Production
• Singular.live: Interactive Overlays

Best Technology for Injury Prevention or Rehabilitation

• AfterShokz: Aeropex Open Ear Sports Headphones
• Capenergy Medical: Tecartherapy Devices
• Contego Sports: N-Pro Rugby Headguards
• Empowerband: Interlocking Ankle Support
• Enertor: Enertor Insoles
• SAP with Keytree and Sports & Wellbeing Analytics: PROTECHT Intelligent Mouthguard

Best Technology for Participation

• Footy Addicts: Game Organization Platform
• Let’s Do This: Online Marketplace for Endurance Events
• Pitchero: Club Management Solution
• Spond: Grassroots Sports Organization App
• Swim England: My Learn to Swim App
• TackleBar: TackleBar Football

Best Technology for Sports Betting

• Colossus Syndicates: Sports ‘Crowdbetting’
• Genius Sports Group: Betgenius Live Sports Data
• Incentive Games: Free to Play
• Scientific Games: OpenSports End-to-End Sportsbook Solutions

Best Technology for Sports Commerce

• ASICS and iRewind: Personalized Video Technology
• fibodo: Booking Management Platform
• Formula 1 and Goodform: F1 Fan Voice Online Research Community
• Formula 1 and Meshh: Project Fanzone Sensor Technology
• Populus and Formula 1: Winning Hearts and Minds with Biometrics
• Tappit and Birmingham City FC: RFID Payment Solution

Most Innovative Sports App

• Apadmi and SailGP: The SailGP App
• Manchester United FC: Match Centre
• Paddle Logger: Water Sports Mobile App
• Racefox Run: Digital Coaching
• Spond: Grassroots Sports Organization
• TCS NYC Marathon: Official Race App

Most Innovative Sports Broadcast or Broadcast Technology

• BBC Sport with dock10 and Alston Elliot: Virtual Reality Studio
• BT Sport: World-first Live 8K Broadcast
• Kiswe Mobile: Cloud-based REMI Production
• Pixellot and NFHS: The US High School AI Revolution
• SailGP, Timeline Television and Whisper: Remote Production
• Sunset+Vine: INEOS 1:59 Challenge

Most Innovative Sports Partnership

• Ascot and UtterBerry: Smart Ticketing at Ascot
• ASICS and iRewind: Reaching Future Customers
• FIBA and Atrium Sports: The Connected Stadium
• FITE and ITV: Every Which Way
• MLB and Mitel: London Series 2019
• Supponor and Lagardere Sport: Virtual Advertising

Rights Holder or Governing Body of the Year

• International Equestrian Federation for Digital Fan Engagement
• RFU for Digital Fan Engagement with IBM
• World Athletics for Athlete Presentation Projection Mapping

Use of Esports by a Sports Brand

• Dorna Sports: MotoGP™ Esport Championship
• Formula One Digital Media: F1 Esports
• NBA and Take-Two Interactive: NBA 2K League

Please direct media enquiries to ENS on 020 3150 2080 or  email

The brand data contained on this page is an external submission and has been taken in good faith; as such The STA Group is not responsible for the accuracy of the information. However, since The Group wishes only to convey correct intelligence, if you have any concerns over the copy held above, please contact info@sportstechgroup.org

Sports Trends – What Can We Expect from 2020

This article originally was written by Rebecca Hopkins, CEO, The STA Group in City AM. 

Drama is the currency of sport but if 2019 gave us any universal truths, it is that sports brands’ below-the-radar work is the stuff making the real hard yards.

Over the past year, forward-thinking organizations have been focussed on creating highly tailored engagement, often embracing a social message, and better leveraging of newer media platforms. Two organizations which stood out in this regard were AS Roma, which used the transfer window to promote awareness of missing children or World Rugby’s work on TikTok during the Rugby World Cup.

So, what will shape brands in sports’ behaviour in engaging fans next year? Here are the ones I’m backing…

• Don’t Badge, Make Bank:  last year saw marketers focus on creating tangible commercial returns from their investments. Whether driving subscriptions, selling tickets or lowering costs to increase profits, brands are looking to maximize revenues, not simply flag-wave when creating relationships with fans.
• ‘If you’re not paying for the product, you are the product’: this was never truer than in 2019 and sits interestingly alongside brand marketers’ quest to generate returns, but how will the exchange of data for rewards continue? Two clear factors influence sports fans’ data sharing, namely do they trust the brand harvesting the information and is the reward worth it – a moving target if ever there was one? Increasingly this means highly personalized, relevant and engaging content delivered in the manner of fans choosing. Woe betide the 2020 marketer who cannot differentiate Snapchat and Spotify!
• Which R?  VR (virtual reality) has (wrongly) been hyped for imminent and widespread adoption for years; it will undoubtedly score at some point but AR (augmented reality) is far more embraceable. AR comes in two forms, marker and markerless, which roughly means digital images are either related to a product or posted in the sky. Some AR executions have been dramatic (if you missed Estudiantes de La Plata’s Augmented Reality prowling lion, check it out here) but its core attribute is the potential for gamification, a growing force in sports. For example, at live games, rather than firing merchandise into the crowd, fans can catch prizes virtually via their phones. Expect more of this in 2020.
• 5G or Not 5G?  People get very excited about the speeds and capabilities of 5G but with fewer than 20 UK cities currently enabled, it’s still far from a major factor in fan engagement. As the saying goes, quick downloads don’t compensate for boring content so backing 5G in 2020 is an each-way bet at best.
• Social Politics:  Any brand operating in sport which hasn’t yet reviewed its environmental, diversity and equality behaviour is already behind the curve; as sports battle to win over ever-younger fans, these will be key. Most has been done with sustainability: Tokyo Olympians will be wearing medals from recycled phones, the Aviva Stadium has 100% renewable energy and eco-cups keep nine million plastic beakers from landfill annually, but with live sports fixtures generating c.41 tonnes  of CO2 pa, fans will look to sports to improve both its behaviour as well as theirs.

See the full article from Rebecca in City AM here.

There have been some key trends in fan engagement in the sports world in the past year, and exciting developments are predicted for this year.

This article originally was written by Rebecca Hopkins, CEO, The STA Group in Campaign.  

The flurry of reviews and trend forecasting that happens in December is often accompanied by statistics that support the authors’ views. The beauty of these is that they sound impressive but, if you are making claims for a decade ahead, no-one is really going to call you out.

Consequently, in fan engagement, especially technology, there have been some absolute howlers. Virtual reality is very much not fundamental to fan engagement (as was predicted in 2014); the wearables market is only worth $24bn, rather than the $53bn predicted in 2010; and despite assurances in 2010 that paper ticketing would be extinct, there’s a large pile of them on my desk.

While the stunts often get the attention, in truth the past year has seen invisible innovations make the real hard yards. Certainly, we’ve seen some fun work in 2019’s major tournaments, but most activation was “quieter”, with emphasis on more tailored engagement, such as better leveraging of newer social media platforms. Two brands that stood out were World Rugby on TikTok during the Rugby World Cup and AS Roma’s leveraging of transfer-window interest to promote awareness of missing children.

It speaks volumes that Estudiantes de La Plata’s augmented-reality prowling lion enjoyed the headlines it did; it was an undeniably impressive piece of work, but battle arena game League of Legends actually beat the Argentine football club to the punch in 2017 with a remarkable live rendering of Elder Dragon at the League of Legends finals.

So, what were the key trends from 2019 and how will that shape brands’ behaviour in engaging fans next year? From what we’ve seen, here are our stats-free predictions…

More than badging

A major trend was the need to create tangible commercial returns from marketing investment. Whether by driving subscriptions, selling more tickets or lowering production costs to increase profits, brands are looking to maximise revenues, not simply flag-wave when creating relationships with fans.

Data: yours, mine or ours?

The adage “if you’re not paying for the product, you are the product” was never truer than in 2019. This sits interestingly alongside marketers’ quest to generate returns, but how will the exchange of data for rewards continue? Two clear factors influence sports fans’ data-sharing: do they trust the brand harvesting the information and is the reward worth it? Increasingly, this means highly personalised, relevant and engaging content delivered in the manner of fans’ choosing. So, in 2020, marketers better be able to differentiate their Snapchat from their Spotify.

AR or VR?

The hype surrounding VR in sport has been deafening for several years, but it really hasn’t justified the talk time. AR, currently the far more embraceable tech, is winning the race largely because it is so nimble. There are two types of AR, marker and markerless, which in layman terms are essentially images related to a product or ones posted in the sky.

AR is dramatic (as Estudiantes’ lion proved) and lends itself much more to gamification, which has been a growing force in sports for several years. For example, at live games, rather than cannons firing merchandise into the crowd, fans can catch prizes virtually using their phones. Expect much more of this in 2020.

5G or not 5G?

This is another extensively discussed topic as the associated speeds and capabilities are so impressive. That said, with fewer than 20 UK cities currently 5G-enabled, it is still a way off being a major factor in fan engagement – and as the saying goes, quick downloads don’t compensate for boring content.

Sustainability

Any brand operating in sport that isn’t yet thinking about its environmental behaviour is already behind the curve. As sports battle to win over ever-younger fans, sustainability will be key – as well as being the right way to behave. Tokyo Olympians can look forward to recycled gold medals; Ireland’s Aviva Stadium boasts 100% renewable energy; and eco-cups keep nine million plastic beakers from landfill annually.

But with fans generating on average 41 tonnes of CO2 per live fixture, they will look to sport to improve its own behaviour as well as theirs. This trend has been a slow but steady burn, but the good news is that it is speeding up fast – in no small part powered by fan expectations.

The past 12 months presented another wonderful sports calendar and 2020 should be even better. The Olympics and Euros are highlights, alongside the perennial favourites of the Six Nations, Formula One, Wimbledon and Ascot. But the year ahead isn’t simply about great on-field action – we look set to see some significant yet subtle changes off it too.

See the full article from Rebecca in Campaign here.

Brands Joining Forces on Sports Technology Insights Programme

Today (December 3rd) The STA Group and the English Institute of Sport (EIS) have signed a partnership which will see both organizations combine their unique knowledge, experience and networks in sports innovation to create a new jointly branded insights’ programme.

The EIS works to improve sporting performance through science, medicine, technology and engineering, supporting Britain’s sports and athletes throughout the Olympic and Paralympic cycles. Founded in 2002, the EIS has been at the cutting edge of sports innovations for nearly twenty years.

Rebecca Hopkins, CEO of The STA Group, explained: ‘We are delighted to be partnering with the EIS, both because of the international respect they command as well as their unrivalled position and network within sports governance. Fundamental to this relationship is the fact that both our brands share great knowledge of and passionate commitment to excellence in sports technology. We plan to use this to inform and inspire the global sports industry, as well as to celebrate the stand-out work being done by visionaries within it.’

Nigel Walker, National Director at the English Institute of Sport, added: ‘The English Institute of Sport (EIS) shares several values with The STA Group, including a proven track-record of designing, implementing and evaluating performance-impacting innovations that enable athletes, coaches and managers to excel. The partnership with the Sports Technology Awards gives the EIS a unique, global-platform to share our research and showcase our work.’

More information about the EIS can be found at www.eis2win.co.uk

 

If you are interested in receiving more frequent news from The STA Group, please join our network by and ensure that you

• Follow The STA Group on LinkedIn – to access a wide range of daily insights into the sports technology sphere
• Join The STA Group WhatsApp Community – we share exclusive information from The STA Group network and aim to send messages every fortnight, and on key dates throughout the year

New Partnership Sees The Sports Technology Awards Relocate to The Londoner

 

The World’s First Super Boutique Hotel to Host Ceremony from 2020

Today (20.11.2019) The STA Group, organizers of The Sports Technology Awards, revealed a new partnership which sees the annual awards ceremony relocate to the world’s first super boutique hotel, The Londoner, from 2020.

The Londoner, opening in Leicester Square in June 2020, is the latest project by Edwardian Hotels London, the privately owned hotel group behind a collection of five and four star hotels across London and Manchester. The group’s properties include The May Fair Hotel and multi-million-pound newly refurbished The Edwardian Manchester, as well as award-winning restaurant and bar brands, including May Fair Kitchen, Bloomsbury Street Kitchen, Peter Street Kitchen, Leicester Square Kitchen, Monmouth Kitchen and May Fair Bar.

Boutique in feeling yet staggering in scale and showcasing the work of world-renowned designers Yabu Pushelberg and remarkable architecture by Woods Bagot – The Londoner is iconic in location as well as form. The expansive ballroom will host the Awards dinner and the after-party will take place in the contemporary Japanese lounge bar with rooftop terrace and fire pit. The hotel features across 16 storeys: 350 guest rooms and suites and a tower penthouse with panoramic views; two private screening rooms; a mix of six concept eateries, bars and a tavern, including alfresco dining on the ground floor; plus a variety of meeting spaces and a results-driven gym and spa.

Rebecca Hopkins, CEO of The STA Group, explained: ‘The Awards are now the leading celebration of sports technology globally so it is critical that the ceremony is hosted in a venue which reflects this status – and The Londoner is the perfect choice. The location, Leicester Square, is iconic in terms of international gala events and the hotel, which offers an unrivalled mix of elegance, excellence and state-of-the-art facilities, means that our new home is helping us deliver one of the coolest events in the worldwide sports business calendar.’

Charles Oak, Hotel Director of The Londoner, said: ‘We are delighted to be working with The STA Group as their approach to embracing innovation and quality matches our own. Guests attending the Sports Technology Awards can look forward to an evening of exquisite food, drink and entertainment that we would like to think will be incomparable to anything they have experienced at other events. The after-party, which will be held on our rooftop terrace, presents the chance to continue the celebrations with a totally unique view of the London skyline.’

Oak added: ‘From the moment people arrive on the red carpet to when they say goodnight to our rooftop vista, the 2020 ceremony promises to be a truly wonderful event for sports industry leaders and we are proud to be fundamental to that.’

The Londoner, opening in June 2020, is a member of the prestigious Preferred Hotels & Resorts Legend Collection. The Sports Technology Awards ceremony, which will be the hotel’s inaugural gala event, is set to take place on June 24th 2020.

More information about The Londoner is at https://thelondoner.com/.

 

If you are interested in receiving more frequent news from The STA Group, please join our network by completing the following.

• Follow The STA Group on LinkedIn – to access a wide range of daily insights into the sports technology sphere
• Join The STA Group WhatsApp Community – we share exclusive information from The STA Group network, and aim to send messages every fortnight and on key dates throughout the year

Let’s Get Quizzical!

It’s always interesting to read past predictions and see how close the forecaster came to be the sport’s sector Nostradamus.

Thanks to the knowledge gained from six years’ worth of entries and the expert guidance of industry-leading judges, the Sports Technology Awards is uniquely placed to take a view on how past predictions have hit the mark. Pit your knowledge against the forecasters and see if you should be in the business of predictions…

1. VR will be a fundamental part of fan engagement within the next 5-10 years – What year was this predicted?
2. The wearables industry is expected to be worth over $53 billion by 2019 – What is the actual figure?
3. Esports will mimic and need guidance from traditional sports – What was the esports viewer figures for 2018?
4. In 2019 sports betting in the USA will be legal – How many states have legalized sports betting so far?
5. Paper ticketing will soon be extinct – What year was this predicted?

 

So How Did You Do?

Members of the STA Group’s WhatsApp community were recently treated to a fun quiz, which tested their sports tech stats knowledge. We chose five areas of sports innovation, along with some historical predictions, to see how far the gaps were between the forecast and the reality…

VR (virtual reality) will be a fundamental part of fan engagement within the next 5-10 years – What year was this predicted?

Answer: 2014

There is greater connection being created for fans between the physical and digital worlds; currently this is primarily an AR (augmented reality) not a VR phenomenon, with activities such as virtual prize cannons (where phones catch virtual merchandise) and treasure hunts using both AR and sponsored QR code scanning. As rights holders strive to engage younger fans, expect to see much more of this.

The wearables industry is expected to be worth over $53 billion by 2019 – What is the actual figure?

Answer: $25 billion

This prediction was made in 2010 but as of September 2019, the wearables industry was valued at ‘only’ $25 billion. Whilst the prediction may have missed the mark, wearables have become a vital component of sports, for both the elite athlete and the mass market.

The Sports Technology Awards has seen two of its previous winners go on to make a significant impact on both these markets. Winners in 2017 – StatsSports, have enjoyed success at the highest level of sport, in 2018 the company signed a £1bn deal with the US Soccer Federation, which resulted in the world’s largest player data monitoring program. The winners of the coveted ‘Most Innovative Wearable’ STA in 2018 was FitBit, which initially made a big splash in the market and since have shown continued financial growth, and strong market share. We look forward to seeing the impact that the 2019 winners – Solos Smart Wearables Technology, have on the industry!

Esports will mimic and need guidance from traditional sports – What was the esports viewer figures for 2018?

Answer: There were an estimated 380 million esports viewers in 2018

The first time we saw this statement was in 2015 but we are finding that esports have actually taught traditional sports a fair amount, especially regarding engaging a younger audience. The battle for young fans will be vital for the continued growth of any sports brand so the ones embracing esports – in an authentic way – are mining a rich, exciting and increasingly relevant target market.

In 2019 sports betting in the USA will be legal – How many states have legalized sports betting so far?

Answer: As of September 2019, there were 12 states that have full-scale legalised sports betting.

In January 2019 The STA Group hosted a Sports Technology Insights panel on the future of sports betting in the US. The event was a deep dive into the realities and opportunities that sports betting in the US market presents.

STA Group CEO, Rebecca Hopkins moderated a panel of experts from Charles Russell Speechlys, NBA and Sportradar who advise that:

• Sports betting isn’t legal in the US – the federal legislation has changed that means it simply is no longer illegal
• We need to stop thinking of the US as a single betting market; 50 states will consider and possibly introduce legislation, so in fact, it is more practical to think of each one as an individual territory.
• We are looking at a ‘blank page’, it is likely the US market will develop slowly and in a very different way from the rest of the world
• New technology will be part of the new order too; athlete analysis, GPS tracking and geo-tech are all part of today’s fan experience and have implications for how US fans could bet.

Paper ticketing will soon be extinct – What year was this predicted?

Answer: 2018

Completely replacing traditional paper ticketing requires a robust solution with scalability, security and fan experience, being a few hurdles, however, there is a range of sports tech emerging which present effective solutions.

Just one example is sensors; these have been integral to data collection in the past, especially for athletes but their use is set to increase greatly. Applications already in place include in-stadium crowd satisfaction and atmosphere tracking, as well as being embedded in club products – for example, why print a ticket if it can be manufactured into fan merchandise?

 

So how did you do? If you did well why not give yourselves (and us) a social media shout out – tag us in and we’ll like / share / retweet you.

Ensure that you follow The STA Group on LinkedIn or WhatsApp for more insightful content

The STA Group gains a lot of its insights from the hundreds of brands submitting entries into our awards. Currently, The Sports Technology Awards is open for entries and we take pride in responding and adapting to key industry forces, then reflecting these in our categories. Check out what’s in store for 2020 and learn more about each category  here.