Sports is a Major Industry, and Sporting Venues Make Up a Huge Portion of the Business
Those who design and manage sports and entertainment facilities around the globe understand the importance of creating an atmosphere that keeps fans excited, engaged and, of course, spending more money. According to a recent study by CreditCards.com, fans spend $56 billion annually to attend sporting events, including the cost of tickets, transportation, souvenirs, food, and drinks. However, the increasing cost and time commitment of visiting sports venues have contributed to stagnated or slightly decreased stadium attendance across many leagues in recent years. In addition, venues find themselves competing with improved home viewing options powered by better camera angles, the growth of AR/VR, and multiplatform multimedia experiences.
In today’s competitive environment, if you build it, they may not necessarily come. Stadiums need to invest in the differentiators that will draw in new generations of fans to increase ticket sales and in-stadium purchases.
To Compete with Home Viewing, Sports Venues Need to Expand their AV Capabilities
To create a memorable fan experience, stadiums must upgrade their TVs, add more screens, and incorporate video walls. By distributing sports programming throughout a stadium, these sites have the means to increase food and beverage sales by keeping customers happy and engaged while they’re waiting in long concession lines, with marketing messages that can be tailored to the specific audience and changed at a moment’s notice. Digital signage can be used to communicate basic information, such as the location of bathrooms and exits; but it can also create new sources of revenue by featuring paid marketing messages from advertisers. In fact, switching to digital signage allowed the Pittsburgh Penguins to achieve a 300% increase in concourse advertising and sponsorship revenue, while the Denver Broncos increased their concourse signage revenue by 50%.