The women's NCAA basketball tournament continued to break viewership records with Iowa - LSU becoming the most-viewed women's basketball telecast ever. The Indian Premier League (IPL) set a record for the largest opening day television audience with 168 million viewers for the Chennai Super Kings and Royal Challengers Bengaluru cricket match. Plus, a host of innovative new partnerships, growth initiatives, and investments across the sports industry...
- Iowa's 94-87 victory over LSU in the Elite Eight achieved a historic 12.3 million viewers, the highest ever for women's college basketball and a significant milestone for ESPN. Additionally, this match became FanDuel's most betted event in women's sports history.
- The viewership for the women's Elite Eight averaged 6.2 million viewers, a staggering 184% increase year-over-year, showcasing widespread interest and support for women's college basketball.
- Caitlin Clark led Iowa with an outstanding performance, while LSU's Angel Reese faced personal challenges, including threats, highlighting the intense emotional and societal dynamics surrounding high-profile athletes in women's sports.
- The NCAA Women's Basketball Tournament is seeing a significant viewership increase, averaging 812,000 viewers through the second round, a 108% rise from last year, with the second round drawing an average of 1.4 million viewers across ESPN platforms, marking a record audience.
- Iowa's victory over West Virginia in the second round attracted 4.9 million viewers on ESPN, setting a new record for the most-watched early round game in the women's tournament and surpassing non-Final Four viewership records, including outperforming four of the five NBA Christmas Day games this season.
- Despite the impressive viewership for women's games, Iowa-West Virginia's viewership would rank 16th when compared to men's tournament games this year, highlighting a growing but still present gap in viewership between men's and women's NCAA tournaments, with the men's tournament slightly up in viewership and benefiting from having all No. 1 and No. 2 seeds alive for the Sweet 16.
- The NCAA Men's Basketball Tournament viewership is up 4% from 2023, with games across CBS, TBS, TNT, and truTV averaging 9.44 million viewers, a slight decrease from 2022.
- The N.C. State upset over Duke in the Elite 8 was the weekend's highlight, attracting 15.14 million viewers, making it the most-watched Elite 8 game since 2019 and the most-viewed TV program on Easter Sunday since 2013, with a peak at 18.81 million viewers.
- However, Saturday's Elite 8 games saw a decrease in viewership compared to 2023, with UConn's win over Illinois drawing 6.48 million viewers (down 8%) and Alabama-Clemson attracting 7.79 million viewers (down 3%), indicating mixed results for tournament viewership dynamics.
- Disney Star set a new record for the largest opening day television audience for the Indian Premier League (IPL) with 168 million viewers for the match between Chennai Super Kings and Royal Challengers Bengaluru, with a peak concurrent viewership of 61 million and a total of 12.7 billion minutes watched.
- The broadcaster, which paid I₹ 23,575 crore (US$2.83 billion) for domestic television rights, offers special feeds for hard-of-hearing viewers and utilizes AI for audio translations, highlighting the inclusive and technologically advanced nature of their coverage.
- Despite the record TV viewership, the future of pay-TV faces scrutiny in a market increasingly leaning towards streaming, evidenced by Disney’s Hotstar losing over a third of its subscribers after the IPL digital rights went to Viacom18, which saw a 51% increase in viewership for the opening game on its free mobile platform, JioCinema. Disney plans to merge its Indian business with Reliance’s broadcasting division in a deal worth US$8.5 billion.
- Major League Soccer (MLS) will utilize artificial intelligence through Camb.AI to broadcast a live match in four languages, marking a first for a live sporting event. This innovation will debut during the 2024 Generation Adidas Cup, showcasing the MLS Innovation Lab's sports technology.
- The broadcast innovation is part of MLS's broader strategy to embrace technological advancements and global engagement, complemented by its US$2.5 billion streaming deal with Apple, which also includes the creation of immersive 8K 3D video content for the Apple Vision Pro headset.
- The initiative highlights MLS's commitment to innovation and global accessibility, offering multi-language AI broadcasts and immersive viewing experiences that leverage partnerships with leading technology companies like Apple to enhance fan engagement and broaden the league's international appeal.
- The Premier League has formed a four-year partnership with sports technology firm Rezzil to launch an official virtual reality (VR) video game in 2024, allowing fans to experience being their favorite players and recreate iconic moments.
- Rezzil, a Manchester-based company known for its athlete training and match analysis VR software, counts Manchester City and Wolves among its partners. The Premier League will also acquire an equity stake in Rezzil as part of this deal.
- The collaboration signifies the Premier League's commitment to embracing sports technology and VR to enhance fan and player engagement, reflecting a broader trend towards the adoption of immersive sporting experiences.
- MLB teams experienced a 15.6% increase in fan attendance during the official preseason games this spring, drawing 3.33 million fans, with traditional Grapefruit and Cactus League matches making up 90% of these games.
- The Cactus League saw a slight increase in attendance with 1.58 million fans, up 0.8% from 2023, while Grapefruit League games attracted 1.41 million fans, marking a 2.4% increase from the previous year.
- The Chicago Cubs led in average attendance at their Sloan Park, the largest spring training facility, a trend continuing since its opening in 2014. The season also faced 19 rainouts, more than double the typical number and the highest since 22 rainouts in 2016.
- FuboTV and the YES Network have reached a multi-year agreement to include the YES Network, featuring New York Yankees and Brooklyn Nets coverage, in Fubo's Pro base channel plan before the Yankees' season opener against the Astros.
- The partnership expands FuboTV's sports offerings, adding to its already extensive lineup that includes MLB.TV, MLB Network, MLB Strike Zone, various regional sports networks, local broadcast networks, and national sports networks like ESPN and FS1.
- This deal follows a recent carriage agreement with the Mid-Atlantic Sports Network (MASN), adding Baltimore Orioles and Washington Nationals games to FuboTV, which has seen significant financial improvement with a near half reduction in annual net loss and an increase in revenues to $1.37 billion for the year ending December 31, 2023.
- Toca, the organizer of the British Touring Car Championship (BTCC), has entered into an agreement with ITV to live stream every race globally on TikTok, in addition to the BTCC's existing UK television contract which includes coverage on ITV4 and ITVX.
- This initiative marks the first time ITV will stream an entire sports event live on its TikTok channel, making BTCC the first major sporting competition to have its full season broadcast on the platform, both in the UK and worldwide.
- The deal, resulting from a broadcasting strategy review started in September, will provide global live access to every BTCC race for the first time in the championship's 66-year history, diverging from TikTok's usual approach of offering exclusive short-form content.
- Alex Rodriguez and Marc Lore assert their intention to become the next owners of the Minnesota Timberwolves, disputing Glen Taylor's announcement that their purchase deal is terminated. They claim no breach of the agreement on their part, accusing Taylor of fabricating reasons to exit a financially unfavorable deal.
- Lore and Rodriguez detailed their structured agreement with Taylor, initiated in 2021, for a phased purchase of the team, emphasizing a specific clause they believe grants them a 90-day extension for NBA approval, contradicting Taylor's claim that the deal's conditions for extension were not met.
- The duo is considering legal action to uphold their contract rights, highlighting their contributions to the team's increased valuation and criticizing Taylor for allegedly isolating them from team operations and facilities, amidst indications of a deteriorating relationship and disagreements over the sale's terms.
- Elevate announced the acquisition of Fenway Sports Management's Consulting Group, integrating Fenway's book of business and personnel into a new Boston office, and expanding their client roster with notable companies such as Moderna and Santander Bank.
- The acquisition, which had been in discussion for about six months, saw Elevate outpacing other interested agencies, with the transition led by Elevate's Chief Client Officer Cameron Wagner and Fenway veteran BriAnne Newman appointed as SVP of Elevate Brand.
- The deal reflects the dynamic nature of brand consulting, with Elevate actively engaging in diverse sports properties for its clients amid a competitive market, and signifies Fenway's strategic exit from brand consultancy to focus on its core business of owning and operating properties.
- Major League Baseball achieved a record high revenue of $378 million per team in 2023, with all revenue streams hitting new highs, yet team values increased by only 4% due to pressure on local media rights, highlighted by the financial struggles of regional sports networks (RSNs) like Diamond Sports.
- The disparity in team valuations is evident in the sale of minority stakes and control stakes, such as the Phillies and the Orioles, with local TV deals and the financial health of team-owned RSNs playing significant roles in determining these valuations.
- Despite challenges in local media rights, teams like the Dodgers and Phillies have seen value increases due to lucrative local media deals and other revenue sources like attendance and premium seating, while revenue sharing and other MLB revenue streams help mitigate financial disparities among teams.
- The ECB is seeking private investment at the team level for The Hundred, aiming to boost the competition's financial backing and compete globally, with plans to potentially hand ownership to host clubs for stake sales.
- Despite committing additional funding for the women's edition of The Hundred, the ECB acknowledges the challenge of attracting top international talent due to lower salaries compared to other leagues like the IPL, yet remains optimistic about the tournament's growth and the benefits of private investment.
- Alongside efforts to enhance The Hundred, the ECB, BCCI, and CA are considering reviving the Champions League Twenty20 (CLT20), acknowledging past challenges but recognizing a matured T20 landscape and exploring potential scheduling options, including a focus on women's cricket.
- Fox Sports and AEG are launching the College Basketball Crown in 2025, a new postseason competition in Las Vegas for Big Ten, Big 12, and Big East teams not in March Madness, with games airing on Fox and FS1.
- The tournament, set at the MGM Grand Garden Arena and T-Mobile Arena from March 31-April 6, will feature 16 teams, with eligibility extended to those not qualifying for the NCAA tournament, including two automatic qualifiers from each conference.
- This event aims to be a direct competitor to the NIT, marking a significant moment as major college sports conferences further distinguish themselves from others, with Vivid Seats serving as the official ticketing partner.
- Tottenham Hotspur is engaging with potential investors after reporting significant losses of £86.8m for the 2022-23 financial year, despite achieving a record-high revenue of £549.6m, driven by broadcast revenue, Champions League participation, and matchday income.
- The club's operating expenses increased by 21% to £487.9m, attributed to higher first-team costs and various non-football events, while they face the challenge of their fourth consecutive year of losses and a high net debt of £677.4m.
- Despite financial challenges, Tottenham's commercial income rose significantly, benefiting from UEFA prize money and revenue from non-football events held at the Tottenham Hotspur Stadium, including major concerts and NFL games, with a focus on enhancing commercial revenues through third-party events.
- Perfect Game, a prominent youth baseball platform, has welcomed a new investor group comprising 21 current or former MLB players, along with Perfect Game Commissioner and Chicago White Sox executive Dennis Gilbert.
- The investment group features notable names like Francisco Cervelli, Trevor Hoffman, Tim Lincecum, Salvador Perez, and Mo Vaughn, among others, although the financial details of the investment remain undisclosed.
- Recently, Ryan Klesko and Mo Vaughn took on roles as special assistants within Perfect Game, focusing on player development and identifying young talent in socioeconomically disadvantaged areas, under the guidance of Chairman Rick Thurman and CEO Rob Ponger.
- Gerald Forsythe has acquired the remaining 50% stake in the Long Beach Grand Prix from the late Kevin Kalkhoven's estate, solidifying full ownership and recommitting the event exclusively to IndyCar.
- Forsythe's acquisition comes amid interest from various sanctioning bodies, including NASCAR and Penske Entertainment, underscoring the high value and competitive interest in the Long Beach Grand Prix.
- Emphasizing the significance of the race to IndyCar, Forsythe aims to secure a stable future for the event, particularly as it approaches its 50th anniversary in 2025, ensuring its continuation as a cornerstone of the IndyCar Series.
- Former NBA point guard and TNT Sports broadcaster Kenny Smith has been appointed to lead the North America division of the National Basketball League’s (NBL) "Next Stars" program in Australia, aimed at fostering NBA Draft-eligible talent. Smith will also invest in an NBL expansion team focused on Next Stars talent.
- The NBL, with teams in Australia and New Zealand, has seen significant investment from former NBA players and others, indicating its growing stature and the increasing value of its clubs. The league is planning to add more teams, including one primarily composed of Next Stars players, with Smith and likely other NBA personalities as part of the ownership.
- Launched in 2018, the Next Stars program has already contributed to the NBA by developing draft picks like LaMelo Ball and Josh Giddey. Despite new competition and changes in the landscape like NIL in college, the program and the NBL continue to be seen as a valuable pathway to professional basketball, especially with the mentorship and development focus from figures like Kenny Smith.
- Greenfly secures an oversubscribed $14 million equity investment round led by ADvantage, with contributions from Ryan Sports Ventures, Mercato Partners, the NBA, and existing investors, pushing its total funding over $40 million.
- The company, specializing in AI-powered short-form content, experienced significant growth in 2023, adding over 40 partners, acquiring Miro AI, and expanding internationally with a new office in the UK, serving over 100 sports leagues, teams, and brands.
- With the new funding, Greenfly aims to focus on growth, particularly in serving and scaling with large and small partners, expanding into new markets globally, and exploring further applications of its platform in automating and monetizing short-form digital content across sports media and beyond.
- Flutter Entertainment is proposing to move its primary stock exchange listing from London to New York, with a shareholder vote scheduled for May 1 to finalize the transition by the end of that month.
- The move is partly to align with the interests of U.S. customers and investors, particularly those of FanDuel users, as Flutter already has a significant number of U.S. institutional shareholders focused on domestic investments.
- Relocating the primary listing to the U.S. is strategic for Flutter to meet the criteria for potential inclusion in the S&P 500 index, according to CEO Peter Jackson.
- Steve Cohen's Point72 Asset Management has purchased a 5% stake in Fox Corporation, amounting to roughly 12 million shares valued at approximately $376.9 million, signaling a significant investment in the media conglomerate.
- This investment comes as Fox is gearing up to launch a new sports streaming platform in collaboration with ESPN and Warner Bros. Discovery, with Pete Distad appointed as the CEO of the venture.
- The acquisition of Fox shares by Point72 follows other notable investments in the entertainment and live event sectors, including a 5% stake in Liberty Live tracking Liberty Media's interest in Live Nation, and a 5.6% stake in Madison Square Garden Entertainment, showcasing a strategic focus on media and entertainment assets.
- Viaplay acquired Premier Sports for a reported £30 million in 2022, aiming to leverage the broadcaster's assets for its UK streaming service launch. However, due to financial struggles and a strategic focus on core markets, Viaplay sold its UK sports broadcasting business back to Premier Sports, which will relaunch the channels under its own brand on 9th April.
- Viaplay is withdrawing from non-core markets, including the UK, to concentrate on its Nordic and Netherlands operations as part of a broader restructuring effort. This move comes amid financial challenges and follows a series of strategic decisions, including divestitures and a focus on a recovery plan.
- With the reacquisition, Premier Sports will rebrand Viaplay Sports channels and launch an "enhanced" streaming service, absorbing Viaplay's subscribers. This expansion includes a rich portfolio of sports rights, indicating Premier Sports' ambition to strengthen its position in the sports broadcasting market.
- The Major League Soccer Players Association (MLSPA) has participated in a $20 million Series B extension financing round for Miach Orthopaedics, a company specializing in innovative ACL tear repair methods.
- The MLSPA joins the NFL Players Association as the second major sports union to invest in the startup, which also received initial funding support from Boston Children’s Hospital and the National Institutes of Health for its research.
- Miach Orthopaedics' flagship innovation is the Bridge-Enhanced ACL Restoration (BEAR) Implant, developed by founder Dr. Martha Murray, aiming to heal torn ACLs directly instead of relying on traditional graft replacement surgery.
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