The Emergence In A New Fan Behavior: Listen
The boost in the podcast industry has spread into the sports world. With ways to listen online, such as sports radio and podcasts, there is a new way for sports fans to get content and additional streams of revenue for companies. The content in the listening form is more accessible than others with such a vast array of recorded shows. It allows fans to listen any time they can and it is easy to listen and multitask with almost anything. Our team found in a recent study on this behavior that nearly 80% of people listen to podcast content while they commute.
Companies are taking notice of this jump in the listening behavior and we are seeing new partnerships. iHeartMedia has recently made deals with both the NBA and Sports Illustrated. iHeartMedia is the number one podcast publisher globally. CEO of iHeartMedia Digital Audio group, Conal Byrne, said the partnership will “introduce a brand-new slate of sports podcasts.” The multi-year exclusive agreement features eight co-produced original podcasts with Sports Illustrated and Sports Illustrated Studios. The NBA’s agreement includes a launch of more than 20 new iHeartRadio-NBA co-produced podcasts.
Podcasts are another way to unite athletes, fans, and teams and deliver the storytelling aspect fans want and love. These two agreements will deliver just that by giving an array of content. The NBA content is going to include backstories of the greatest moments in sports history as well as current league news, insider analysis, player commentary, and more. Sports Illustrated’s deal is broken up between Sports Illustrated producing editorial and sports analysis podcasts, while Sports Illustrated studios will produce scripted podcasts, limited series, and narrative shows. These 2 new deals are only an example of new ways companies can expand their market and deliver more and innovative content to fans.
Spotify's recent purchase of the Ringer, founded by Bill Simmons, was a way for Spotify to bring loyal sports fans to their platform. The Ringer is a website and podcasting network for sports and pop culture. When purchased, it had a lineup of more than 30 podcasts, published original daily articles, a film production division, and a book imprint. The deal cost Spotify $200 million over the next few years and is one of the platform’s largest moves to grow its presence in podcasting. Simmons believed Spotify could take the company to another level and in Spotfiy’s favor they could further their growth in podcasts by gathering an already established community of listeners from the Ringer’s library of shows. This deal was critical in Spotify’s competition with Apple as the announcement of buying the Ringer reported a 29% rise in paid subscribers for Spotify.
The listening behavior is on the rise as it is a powerful way to engage fans and deliver the storytelling they desire. This medium also allows another way for players to connect directly with fans. We have also seen college athletes beginning to launch their own podcasts after the recent NIL rulings. The younger athletes understand that their fans, predominantly younger generations, are already consuming content on these mediums and want to go to where the fans are.