I have always felt that the wandering the halls and listening to topics away from the main stages at the annual MIT Sloan Sports Analytics Conference unveils an interesting look ahead to both the fun and the unusual. It’s where young people are talking, smaller conversations take place, and the fun and sometimes unusual reside.
That’s where we found James Canty and Chessboxing two years ago before he became a 60 Minutes sensation (here was our 2024 podcast). It’s where we have found students and had conversations about where we all fit into this mosaic of a billion dollar business.
Two things that reverberated almost more this year than others: joy and anxiety. The boundless growth of opportunities juxtaposed with the worries of the economy, global challenges, a fickle job market, mental wellness and affordability.
One comment from a young well-dressed job seeker struck me as interesting, as this young soon to be grad pondered all the booths that lined the hallway with ideas of opportunities to come.
“All these exhibitors are talking #AI innovation is anyone worried we are putting us young humans out of business?”
It was a good reminder that sports is a business executed by talented but flawed humans, and while AI is now filling the gaps of conversations that “esports,” and “gambling” dominated in recent years, we should not forget that the thrill of the unpredictable is what builds fandom…and business.
Some other takeaways from the two days…
One precenting overload. On more than one panel, the idea of luxury experience at the risk of greater, financially challenged fans came up. One of those back hall conversations was that the focus on fandom was over indexing on luxury experiences and money at the expense of the fan.
“The idea of 1 percenting sports is very dangerous. It’s not the way we grew up & it’s something we as an industry better be very focused on; making sure we are affordable for all.” Was a key point raised by the WTA’S Valerie Camillo, while KAGR’s Jessica Gelman raised the same concern on a Friday panel We do want the ultimate experience, the best in class, but are we forgetting the way we built fandom?
While he was not at Sloan this year, former Mavericks owner Mark Cuban has voiced similar concerns, highlighted in Abe Madkour’s column this week in SBJ.
“When a family can afford to come to a game, they do. It’s a unique bonding event that creates incredible memories. When they come as a family, they not only become a fan of a team and the players, they become a ‘Mavs family.’ … This is why the Mavs had $2 tickets for a while.”
“The memories we can create can last a lifetime. … That’s far more valuable to the team than anything. … We live in an uncertain world. Every sport and league will have its ups and downs. Any sport, if it can sustain its connection to families, can survive whatever happens. If it becomes like any other business, maybe not.”
This mix of affordability and access is not going away, and it is something that made it to the stage and the backrooms, with no clear answer in sight.
Speaking of access, there is also the debate over how elite sports properties are still struggling to find the balance of delivering better experiences to fans not just at the arena or the stadium, but on whatever device they choose. Case in point from Sam Kennedy of Fenway Sports Group.
“We have made it so hard for fans to access content. If we make it more than 1 click away we lose them. We have to do a better job on consumer experience.”
Predicting The Prediction Markets. The Saturday morning discussion on prediction markets…not something that was on the Sloan or anyone’s front line agenda a few years ago…was as expected enlightening and…unpredictable.
“It’s a better way to make decisions than relying on rumors & gossip.” Was one of the takeaways from Polymarket’s Shayne Coplan on prediction market explosive growth, while Ric Best of Susquehanna , and Chad Millman debated how prediction markets are democratizing information for the consumer and putting pricing pressure on sports betting markets. Best, like Coplan, deferred to value in their exploding business. “It’s a value to me and everyone. It’s tax on disinformation…with prediction markets, there’s a cost for being wrong and a reward for being right. This creates a dynamic that cuts through so much of this disinformation out there.”
Lastly, let’s end with the reason why sports are still a growth experience, pointed out by NBA Commissioner Adam Silver in his conversation with Sue Bird.
“People have a hunger for human connection that is hard to find in other aspects of our lives.”
That connection, through live events that are largely sport, can’t be outpriced, out bet on, out predicted, out-tech or overemphasized. The connection brings respite, joy and opportunity, and can’t be downplayed or lost in the business side. Big business yes, global business sure, but joyful business most importantly.
People business, relationship business, fun business.
Let’s not forget it, no matter the age or opportunity.
Using “Mobility’ To Reframe An Industry Mindset…
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