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How Sports Betting Could Be a Safe Bet for Your Business

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We’re back today with some more insight into what  The Future of Audience and Revenue study from Futuri and SmithGeiger Group uncovered about maximizing your audience for increased revenue. 

 

So far we’ve talked about the ways in which the modern audience has changed, and how your organization can adjust to meet their evolving expectations.If you want to see real results, you’ll need to be prepared to take some risks. 

 

Those risks often mean exploring new markets, and on that note, here’s some advice that you have certainly never heard from your financial advisors: it might be time to go all-in on betting. 

 

We’re not talking about hitting the horse track or pinning it all on a prizefighter. What we are talking about is giving your audience what they want. And the answer to what they want is simple – they want to place some bets. 

 

Weighing the Odds

 

The Futuri x SmithGeiger study found that 72% of its over 2,000 participants that were between the ages of 16 and 74 are still tuning in for the big game, whether they’re watching at their favorite dive bar with friends or at home from the comfort of their own couch. 

 

Once again, locally produced content reigns supreme. 69% of the aforementioned 16-to-74-year-olds keep up with sporting events by accessing a local news site, and 71% tracking results through their preferred source’s app. 

 

Now, consider how those numbers jump for esports and gaming. In 2020, Forbes reported that the gaming industry generated over $120 billion in revenue as opposed to football, which generated only $11 billion. But whether they’re following the score by sitting in front of the big screen, visiting the local news provider’s website, or going straight to the app, the study found that over 90% of respondents are “tuning in.” 

Baseball might be America’s favorite pastime, but for media companies, the game has changed. Some people want to watch baseball. Some people want to watch competitive Farming Simulator. How can you reach them all?

 

Go All-In

With the legalization of sports betting in 2018, betting on sports has become an attractive enterprise. The Futuri x SmithGeiger study discovered that roughly 62% of respondents are willing to bet on sporting events. 

 

The best way to meet their needs, then, is to produce content that caters to that desire. And the easiest way to do this is, once again, to reach them at a local level. 

 

Additionally, 42% of respondents expressed interest in seeing odds and betting lines presented on their local news programs, which is another potential strategic move for your company. 

 

In short, the possibilities are endless. Whether you’re broadcasting expert predictions or hosting radio contests, the “fun” part of betting is feeling like you’re part of the action. The savvy media company needs to be committed to making that desired content readily available to their audience. 

 

What’s the Next Step?

 

If embracing new content seems like a daunting task, remember that you’re not alone. 

 

Futuri’s got your back. 

 

We’re prepared to make your sports betting transition easier if that’s a route you choose to pursue. Our solutions like TopicPulse are set to drive your content to the forefront of your audience’s search. Will you be ready for them?

 

Have more questions? A good place to start would be taking a look a the results of the Futuri x SmithGeiger study to use. I’ll introduce you to some of the tools that can help you grow your content, audience, and revenue. You can learn more about the whitepaper and study right here.

Adjusting to the Expectations of the Modern Audience

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 It’s time to take another look at some of the noteworthy discoveries resulting from The Future of Audience and Revenue study, from Futuri and SmithGeigerGroup. 

In my last post, we introduced you to the key discoveries that came about from this study. Media consumers and their needs are evolving – and if news outlets and content creators want to keep up, we’d better evolve too.

In this post, we’ll be taking a look at what exactly the modern audience expects from their media experience in 2021 and how you can prepare to meet those needs. Don’t worry–these aren’t unattainable goals. They just take a little planning and effort. 

Three Ways to Adjust to the Change in Audience Expectation

Cultivate Trust

What do CNN, PBS, and Newsmax all have in common? Less than 50% of the 2,000+ responders in our study respondents considered these “mainstream” media sources as trustworthy institutions. That number steadily declined along with the age of American media consumers, dropping beneath 25%.

From this, one thing is clear: today’s media consumers are looking for someone they can trust. 

…So where are people looking for content they can trust? We’ve concluded the talking heads at big institutions are out, and local news providers are in.

Find the Right Content

That leads us to another question: how can content creators source new content that’s sure to grab a consumer’s attention?

Futuri’s survey revealed that social media is key. Content creators need to make the most of social media in their bid to reach consumers, and it isn’t enough to rely on rates of usage. We all have that one relative who takes those clickbait articles on Facebook as the gospel truth. This means it’s important to sort the wheat from the chaff.

It’s good news, then, that we’re seeing an increase in the development of tools aimed at making this process faster and easier. Futuri is ready to answer this demand with its AI-driven content discovery tool, TopicPulse. Whether you’re looking to reach audiences through traditional communication methods like radio or television, or producing digital content, TopicPulse provides a platform you can use to get your specific audience just what they’re looking for. This tool lets users sort news from both big studio creators and local producers, ensuring that it meets consumers’ needs across the board.

Social Media is Key

Since the modern audience has changed, content creators need to change the way they reach their audience, too – and there’s no way to do that without embracing social media!

The best way to do this is to be willing to invest in social and digital platforms. This is going to require a lot of hard work and investment, but it will be well worth the effort.

We rolled up our sleeves and really dug into social media for the Future of Audience and Revenue study, so please contact Futuri or visit the study’s page to learn more. 

 

A New Dawn for Media Companies

The days of channel surfing are gone. Audiences know what they want, whether they’re listening to podcasts or streaming their favorite show, and there are a LOT of options.

But fear not! While the breadth of different media channels may seem a little daunting for your company at first, it also presents an opportunity for unprecedented growth. All that’s required is a commitment to finding opportunities for success and being willing to invest in them.

Luckily, Futuri is here to help. From some of the best tools for radio, television, and digital publishers to a deep look at where the future of the industry lies, we’ll support you and your company’s growth.

Three Surprising Findings about the Modern Audience

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We are thrilled to dive into The Future of Audience and Revenue study, from Futuri and SmithGeigerGroup.  Because of its incredibly wide-ranging nature, we want to take time to unpack some of the most eye-opening discoveries on our blog, and that quest begins today. 

 

As a reminder, this extensive study was Futuri’s most groundbreaking research yet and the result of polling more than 2,000 Americans and over 200 media executives about five key news verticals: radio, TV, social media, digital publishing and esports.

 

Now, as the study’s coverage begins to swirl from news outlets like Inside Radio, Radio World, and NAB Amplify, we want to break down the first of many industry-changing discoveries: ways the modern audience is changing. 

 

What is the “modern audience”?

When we say “modern,” we mean it. The Futuri Study looks at how media consumers were impacted during and after the COVID-19 pandemic permanently changed lives. Specifically, the surveys were conducted between late spring and mid-summer 2021. 

 

With that in mind, here are three of the most surprising discoveries about the modern audience group.

 

Three Surprising Finds from The Future of Audience and Revenue study about Modern Audience

Based on the survey, here are three surprising takeaways about the modern audience in relation to the current media landscape. 

 

It’s time to redefine our favorite media terms:

From conversations in our focus groups, we learned there is no more “TV” and no more “radio.” Instead, there is “video” and “audio” delivered on multiple platforms and consumed by different audiences every moment of the day. There is also all manner of written and visual content. Some platforms blur the lines. As media creation and consumption change, our perception of “media” must also change.

 

In other words, if your friend tells you he is watching TV, he might be: streaming on his Tablet, using YouTube on his phone, following a webinar on his desktop browser, or, of course, actually watching TV!

 

The new definition of TV is much broader than ever before. 

 

The Modern Audience is More Connected and Active than Ever Before

Not only are modern consumers changing the way they talk about media… they’re consuming a lot more of it!

 

As our study revealed, the demand for media content is at an all time high. In America, 41% of people consume more than 10 hours of video per week and 64% — almost two-thirds — consume more than 5 hours. That is a LOT of video! 

 

Here are a few ways how people’s media consumption habits changed between Q1 and Q2 of 2021 alone:

 

  • 57% watched streamed content more often. 
  • 51% watched TV more often.
  • 48% used social media more often.
  • 30% listened to local AM/FM radio stations more often

 

With this many consumer habits on the rise, something else is on the rise, too…

The Modern Audience is ready to SPEND

The modern audience is willing to pay good money for good content! This is GREAT news for all of us. 

 

While our consumer habits might be leaning towards craving more content, the price we’re willing to pay is rising to match.

 

Americans are already spending between $37 and $51 per month on video and audio subscriptions depending on age, and in the case of more affluent HHI $100k+ consumers, this number has reached $66. 

 

Best of all? There’s still room for those numbers to climb as more unique offerings and platforms are created. 

 

If news outlets and content creators can tap into the honey hole of what consumers are craving, there’s an opportunity to create a new subscription-based income method that can revitalize a balance sheet. 

 

Where do we go from here?

If you were keeping a score of the pros and cons from this list, my hope is that you have no “cons” and three “pros.” 

 

While the modern audience is changing what it thinks of as media, it still craves quality content and is willing to open up its wallet to acquire it. 

 

Because of this, we shouldn’t fear “the end,” but look forward to a better future for our industry! 

 

And we’ve just scratched the surface of the breadth of research about the modern audience from this study. If you’re ready to learn more about this group–and how your company can learn and profit–then we encourage you to sign up for my free webinar on October 12. In it, we’ll be looking at how the findings of The Future of Audience and Revenue 2021 apply to three unique vertices: radio, television, and digital publishing. You can sign up for the time best aligned with your vertical. 

 

Remember, a change in the modern media’s audience and landscape doesn’t mean an end to profitability for your company. Instead, it means more profitability if you have the tools and knowledge to connect with your audience. Futuri Media is here to help. 

 

Come back for my next post when we discuss practical ways to adjust to the change in audience behavior. 

Some Key Findings from The Future of Audience and Revenue 2021

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Futuri Media recently concluded our most insightful nationwide media study to date: The Future of Audience and Revenue 2021 study, with SmithGeigerGroup.

 

In preparation to make these industry-shaking discoveries public, let’s discuss a few of the key findings from the study as a preview, of sorts. While this is only the tip of the iceberg, my hope is that it serves as a conversation starter moving into the release of the study. 

 

On Tuesday, October 12, CEO Daniel Anstandig will present a series of webinars with takeaways and action steps for using the information from our SmithGeiger study to grow your content, audience, and revenue. Hopefully, you can register for a spot for this exclusive event. 

 

The Purpose of The Future of Audience and Revenue 2021

When we got the ball rolling for one of the most innovative media studies ever recorded, there were three big questions that were common threads through all the uncertainty we identified in the current media and audience landscape:

 

  1. How Americans perceive, consume, and pay for media content today, particularly now that we’ve been experiencing pandemic-related disruptions for more than a year-and-a-half.
  2. How media executives perceive the sector and its ability to meet future challenges.
  3. How media executives can leverage technology to impact content, audience, and revenue growth

 

We were resoundingly successful at not only answering those questions but implementing the answers into action steps that can be used to unlock revenue growth and enhance ROI. This helped lead to our key findings. 

Key Findings from The Future of Audience and Revenue 2021

Futuri Media analyzed the results from SmithGeigerGroup’s work to break the findings down into VERY specific industry-level takeaways — many of which we’ll discuss during the October 12 webinars. 

 

But, for the sake of this blog, let’s discuss a few higher-level findings that apply to all industries.

Social media is the greatest opportunity for content, audience, and revenue growth.

No longer can we identify ‘alternative’ news sources because those we used to consider as such have all become mainstream. Mainstream to the point, even, that many people are consuming more news on social media than the “traditional channels” of old — eye-opening numbers that will be revealed in the whitepaper. But fear not. This is an opportunity, not a challenge. If we can embracing and master new platforms and channels, it’s a huge opportunity to reach new markets and user profiles with the content that they want while using the medium they choose to consume it.

Investment in social and digital platforms is essential for growth. 

Piggy-backing off the first point is this: while social media and digital platforms are an opportunity, they’re also a necessity. To keep up with the industry, we much make the required changes in company culture, strategy, systems, technology, and personnel in order to meet the opportunities of the new normal. It will take hard work and considerable investment, but those investments will unlock more revenue potential down the line. 

 

The Modern Audience Can’t Get Enough

If the pandemic’s impact on the industry needed to be reduced down to one thought, it’s this: people want more. More news. More entertainment. More social media. Overall, the demand for media has never been more robust. Today, 41% of Americans are consuming more than 10 hours of video per week, and 64% consume more than 5 hours. Between Q1 and Q2 2021 alone, we were astounded to discover that:

 

  • 57% watched streamed content more often.
  • 51% watched TV more often.
  • 48% used social media more often.
  • 30% listened to local AM/FM radio stations more often.

 

In other words, while the industry is changing, there’s never been a better time to be a part of it. The tree of opportunity is ripe for the picking. 

 

And the number one finding…

Our biggest key takeaway — one that significantly impacts every vertical of the industry — is something we’re too excited about to share in a blog post. We’ll be revealing that industry-shaking discovery and much more in the October 12 webinars, so we hope to see everybody there!

 

You can register for your spot right here. 

 

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Futuri is the leading provider of cloud-based audience engagement software for the enterprise. Brands rely on Futuri to make their content more relevant, accessible, engaging, and results-driven. Founded in 2009, Futuri holds 12 published or pending patents in 151 countries. Named to the Inc. 5000 List of America’s Fastest-Growing Private Companies for seven consecutive years, Futuri is the only audience engagement platform that includes solutions for sales, marketing, and content teams.

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