The past few months have been a whirlwind for live sports in Australia, with major global events including the Olympics and Paralympics, the Euros, the World Cup, and the AFL and NRL grand finals captivating audiences across the nation in record numbers.
Each of these events has showcased Australia's insatiable appetite for live sports, delivering the epitome of appointment-type viewing thanks to the tribal nature of their followers. Indeed, new viewership data has confirmed the shift to streaming platforms, with this year’s Olympics shattering Australian streaming viewership records.
Just as this shift to streaming services has ushered in expanded visibility and accessibility for consumers of both high-profile and lesser-known sports, it’s also paving the way for broader participation in live sports advertising. That’s because while smaller advertisers have for several years been able to create their own advertising schedules for off-peak and multi-channel inventory using broadcasters’ automated trading platforms, advertising during live sports matches has been cost-prohibitive for most.
Live streaming of sports has changed this entirely. Advertisers of all sizes now have the opportunity to reach highly passionate, niche but engaged fans at scale by using programmatic to target and optimise in flight, at more affordable prices. It’s no longer the purview of those brands able to afford to sponsor live sports or negotiate directly with broadcasters.
The upsides to advertising in live sports are considerable and research clearly shows that CTV viewing dominates live sports, with the large screen known to boost viewers’ overall engagement and significantly enhancing advertiser effectiveness.
For advertisers still evaluating the opportunity to advertise in live sports, there are three main considerations to ensure a successful campaign delivery.
- Campaigns are most successful when live sports buys are treated as premium, tentpole events. Focusing campaigns around key moments as opposed to defaulting to uniform distribution of ads can help maximise viewer engagement. This approach ensures advertisers capture larger, more engaged audiences and can leverage the emotional connection that sports evoke.
- Effective programmatic execution translates into efficiency. Programmatic can provide valuable flexibility to react more quickly to the unpredictable nature of live events, and ensures water breaks, injuries, and overtime can all be accounted for to reach a leaned-in audience
- Each of the key demographics are active live sports viewers - from the trendsetting 18-24, the influential 25-34, the established 35-49, and the impactful 40-54 age groups - so it’s crucial that advertisers understand and target these segments strategically. This can be accomplished by using the power of data to provide viewers with more relevant advertising that’s tied to their interests. These innovations in technology contribute to more meaningful ad experiences and ultimately deliver greater campaign success. For example, real-time application of first-party data enables brands to immediately connect with new fans as they register on streaming platforms.
Like any transformation, advertising in a live sports setting isn't without its challenges. Live sports audiences are unpredictable and, for some events, viewership levels might far outpace expectations which can burden publishers’ technical infrastructure. However, technology is changing fast, and the industry has made huge strides through innovations such as Magnite’s Live Stream Acceleration (LSA) technology to help publishers better handle bursts of supply to ensure more requests reach the buy-side. Expect to see continued improvements in this area which will make it even easier for advertisers and publishers alike to enjoy the benefits of live sports streaming.
So while some of the biggest live sporting events are already done and run for the year, there remains a steady stream of opportunity to get in on the game, from the Melbourne Cup to the Australian Open and beyond. For advertisers and publishers alike, those who adapt their strategies and embrace the opportunities will be well-positioned to score big with highly engaged audiences.