The landscape of sports sponsorships has been evolving rapidly, driven by the rise of streaming platforms, changing viewer habits, and the increased availability of data. To navigate these changes effectively, brands, teams, and leagues need advanced analytics tools that can help them make data-driven decisions about their sponsorships. In this blog, we'll explore the challenges and opportunities in the sports sponsorship market, drawing on insights from Jay Prasad, CEO of Relo Metrics, an AI-powered sponsorship analytics platform.
Listen to the full episode on our Life in Digital Podcast: The US Edition
The Changing Face of Sports Sponsorships
On the podcast, Jay Prasad discussed the ongoing transition in the sports media landscape, as broadcast television gives way to direct-to-consumer (DTC) platforms like Hulu and YouTube TV. This shift has created new opportunities for brands to integrate their messaging into programming, but it has also complicated the process of measuring the impact of these sponsorships.
As Prasad explains, "You're measuring programming, but it's sponsor programming, a gray area we're working to solve." This challenge is further exacerbated by the rise of league and team-owned channels and direct-to-consumer apps, which enable fans to watch their favorite teams from anywhere in the world.
At the same time, new technologies like virtual and augmented reality are creating additional opportunities for brands to engage with viewers in innovative ways. For instance, Prasad notes that "at some point, perhaps in those [international] feeds, they're virtually doing localized sponsors in those seven feeds, creating a totally different experience for the viewer."
These developments have created an urgent need for more sophisticated analytics tools that can help brands, teams, and leagues optimize their sponsorship investments.
Enter Relo Metrics
Relo Metrics is an AI-powered sponsorship analytics platform that helps brands track and optimize their sponsorship investments while providing teams and leagues with the insights they need to grow revenue. The company tracks sponsor exposure across live broadcasts, social media, and streaming platforms, delivering actionable insights through a fast, single solution platform.
Under Jay Prasad's leadership, Relo Metrics has partnered with major sports leagues such as the NBA, MLB, NHL, NFL, and English Premier League, as well as brands like Quidel, Germania Insurance, LifeBrand, Polaris, and more. The platform has also been instrumental in promoting women's sports, with Prasad highlighting recent collaborations with the Women's Super League in the UK and the WNBA in the United States.
The Importance of Measurement in Sports Sponsorships
According to Prasad, one of the most significant challenges facing the sports sponsorship industry is the need to accurately measure the impact of these investments:
"Let's face it, all these streaming platforms are trying to win subscribers and customers right away from the legacy business. And so there's that happening. But then you also have all the leagues and teams. They have their own channels and they have their own direct-to-consumer apps. How do you measure all that?"
To address this challenge, Relo Metrics leverages advanced AI algorithms to track and analyze sponsor exposure across various channels, providing brands with the data they need to optimize their investments and make more informed decisions about their sponsorships.
Long-term Ambitions for Relo Metrics
Looking ahead, Prasad sees great potential for Relo Metrics to play a strategic role in the sports sponsorship industry. "I believe that you have to solve truly omni channel. In any fragmented market, it's going to consolidate and I think with us and our parent company, GumGum, we are in a position where we can play a strategy and try to be one of the strategic drivers of how the market scales and consolidates and modernizes itself for the future".
By providing an all-encompassing, data-driven approach to sponsorships, Relo Metrics aims to become a vital partner for brands, teams, and leagues in the ever-evolving sports landscape.
The Future of Sports Sponsorships
As the world of sports sponsorships continues to evolve, Prasad believes that success will be defined by a brand's ability to stay agile and adapt to new developments:
"The key to future success in sports sponsorships is understanding that things will continue to change, and being able to pivot quickly and intelligently in response to those changes."
Emerging technologies, such as augmented reality, virtual reality, and blockchain, are poised to play an increasingly significant role in sports sponsorships. These technologies have the potential to create unique, immersive experiences for fans, as well as open up new revenue streams for teams and leagues.
Additionally, the rise of data-driven decision making will continue to transform the sports sponsorship landscape. Prasad notes, "As brands become more sophisticated in their use of data and analytics, they will be better equipped to make smarter investments in sports sponsorships that deliver real value."
The world of sports sponsorships is undergoing a period of rapid change, driven by shifting viewer habits, new technologies, and the increasing importance of data-driven decision-making. As brands, teams, and leagues navigate this evolving landscape, they will need advanced analytics tools, like Relo Metrics, to help them make informed decisions about their sponsorship investments.
Through its AI-powered platform, Relo Metrics is poised to play a crucial role in the future of sports sponsorships, providing actionable insights and analytics to brands, teams, and leagues as they adapt to a new era in sports media. Under the leadership of Jay Prasad, the company will continue to innovate and expand its offerings, staying at the forefront of the industry and helping to shape the future of sports sponsorships.