A new study from consulting and financial advisory firm Deloitte has highlighted changing patterns of sports consumption and fan behavior, especially among younger audiences. The survey, entitled 2023 Sports fan insights: The beginning of the immersive sports era, drew responses from approximately 3,000 people in the U.S. aged 14 and older, and discovered a strong foundation of dedicated fans willing to invest time and money into their fandom.
SOME FINDINGS
A key finding from the study is that nearly three quarters of respondents (71%) said live events were their favorite type of sports content. However, this figure drops to 58% for Gen Z (11-26 years old) and Millennials (27-42 years old).
In addition, more than 90% of Gen Z fans use social media to consume sports content, including game clips and highlights, live events, athlete interviews, and posts from athletes. Meanwhile, social interaction plays a crucial role in the sports experience for Gen Z fans. The survey shows that 61% of the time Gen Z fans are watching live sporting events from home with others. Furthermore, 38% of said having friends with at home would make them more likely to watch sports.
POSITIVE SIGNS FOR SPORTS BETTING
The survey also examined the integration of sports betting into the fan experience. Among those surveyed, bettors are more likely to have attended a game in-person, bought sports merchandise, paid for a streaming video service to watch sports, purchased season tickets, or participated in a fantasy sports league over the past 12 months than those who don’t bet.
About respondents of over 21 years, 77% of them expressed they’d multitasked while watching a live sporting event at home, and sports betting was among the top sidebar activities for those on the younger end of the spectrum. Moreover, 22% of respondents said they’d bet on a professional sporting event within the past year, a figure that rose to 30% among Millennial and Gen Z sports fans. Of all bettors, 35% place bets at least weekly. An important data is that 80% of sports bettors assured that wagering increases the entertainment value of live sports.
In terms of sports betting advertising, 66% of non-betting respondents reported being burnt out on publicity, while 48% of bettors replied the same. Regarding other forms of engagement, 66% of sports bettors surveyed want the capability to bet on their mobile devices on different aspects of a game they’re attending.
MORE EDUCATION NEEDED ON NFTs
Deloitte also touched on the rise of digital assets. While Gen Z and Millennials are more aware of non-fungible tokens (NFTs) and fan tokens, the actual adoption of these remain low. According to the survey, only 7% of Gen Z and Millennial sports fans have purchased or received a team fan token, and 8% have purchased or received a sport or athlete-related NFT in the past 12 months.
Fans are also unclear of the purpose of digital assets, including sports-related NFTs. They study found 30% of Millennials who are familiar with NFTs in sports say they are a fad, 36% indicated they are an investment, and 25% stated they are something fun to express fandom. Yet, if accompanied with the right benefits, more fans might be willing to purchase fan tokens. The survey found that around 60% of fans would be willing to buy a fan token if it offered them a chance to get free exclusive merchandise or free premium seats at a live sporting event.
About the survey, Jana Arbanas, Vice Chair, Deloitte, and U.S. telecom, media and entertainment sector leader, commented: “Gen Z, in particular, seeks immersive, social experiences both at home and at live events, with a noticeable trend towards multiple devices and platforms. Simultaneously, the integration of sports betting and digital assets like NFTs challenges us to redefine fan engagement. The future of sports will increasingly rely on weaving a seamless tapestry of live, digital, and interactive experiences that resonate across all generations.”