Magid releases data illustrating the significant value of live sports as it and news increasingly deliver the lion’s share of the value consumers ascribe to the pay TV bundle.
MINNEAPOLIS, June 3, 2020 – The deprivation sports fans have felt over the loss of their beloved pastimes during the COVID-19 pandemic has provided a prime opportunity to understand the role and value of live sports content in the pay television landscape.
“As an industry, we’ve long held the belief that live sports and news have had primacy among all programming options and continue to be key drivers in the willingness to pay for television. The accuracy of this can be seen more starkly now because of the live sports vacuum due to the coronavirus outbreak,” says Brent Magid, President & CEO, Magid.
While a prior Magid study found that a wide variety of behaviors and media consumption patterns had shifted toward higher usage during COVID-19, new data finds that much of that is likely short lived as sports teams resume game play. Consumers anticipate their usage of streaming, social media, video games and other activities will return to more normal levels when live sports come back.
“We’ve seen in this study and others we’ve conducted during the pandemic that the value proposition of pay television is being eroded, particularly in comparison to streaming services. Live TV sports is clearly the leading unique selling proposition for MVPDs and vMPVDs. Retaining live sports will be key to mitigating churn. And the importance of televised sports will increase as sports wagering becomes legalized across the county,” added Magid.
The infographic outlines five key findings that illustrate the true value of live sports content in the television landscape. It has been made available today via download below.
Magid is a consumer-centered business strategy company delivering courageous thinking that shapes better experiences, products and services. Since 1957, thousands of local and global brands in over 40 countries have engaged the firm for bold ideas that have helped achieve innovation and success. The Magid team is passionately curious and driven by the pursuit of improving human experiences with every engagement.