It's no secret that sports leagues and teams have been getting creative while trying to keep their heads afloat during the sports hiatus following the widespread COVID-19 shutdowns. The NBA and NASCAR turned to online gaming, while the NFL attempted to capitalize on the nostalgia of fans by offering every game since 2009 on their Game Pass Network. Upon their return, it was obvious that sports leagues across the globe were going to need to get creative in order to turn profits even close to their typical years. Interestingly enough, some companies have put themselves in an interesting position to capitalize on this transition being forced upon sports leagues.
When it comes to the next best thing to being in the stands at your favorite sporting event, the only other options used to be watching on the TV or listening on the radio, but those days are soon to be in the past. Now, big tech companies have been pushing out patents for virtual and augmented reality technology and applications for years, which may prove to be ripe for licensing by big-named sports leagues and networks as they attempt to get the edge on their competition. However, heavy investment by big-name tech giants like Facebook and Google doesn't quite keep everyone at bay as companies with long histories of patenting in the Broadcast Enhancement sector may look to file strategic continuation patents to get an edge in their niche.
As mentioned in a previous insight two companies, SMT and Disney, stand out with a large number of documents in the Broadcast Enhancement subcategory. Both companies have continued to show growth in their patent portfolios, with SMT being granted two (2) patents in the sector since the beginning of 2020 and Disney being granted four (4). While no significant changes have occurred yet, it's only a matter of time before the world of sports broadcasting gets shaken up by tech-development, especially with post-COVID restrictions burdening revenue streams of most sports-based companies.
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The sports analytics sector provides an insight into data analytics and data applications as they relate to sports and the athletics experience.