Sure, there’s nothing better than attending a live sporting event, but what if fans could be placed in the driver’s seat and have the opportunity to control what they see? Welcome to the future of sports consumption! This new immersive experience is brought to you by FansXR, the company that powers a new form of fan engagement.
What is FansXR?
FansXR or FXR is a computer vision sports company that uses its platform to provide users with live broadcast views that are powered by 5G and 360, AR, or VR technology. This is made possible by strategically placing cameras in either a stationary position or attached to a helmet, drone, or sky cam.
The platform not only offers fans the best viewing experience but also gives access to gamification opportunities, invaluable digital data, and a chance to upsell ticketing and merchandise. But, the benefits from a partnership with FansXR don’t stop there, as there are also advertising integrations, sponsorship deals, and premium subscription offers that can provide an additional layer of revenue streams.
FansXR and Second Screen Capabilities
Most large stadiums upgraded to 5G within the past 18-months, which couldn’t have come at a better time. Studies have shown that nearly 32% of all US sports fans use a second screen to search for information relating to the event they’re watching. The 5G capabilities support the use of a second screen viewing platform which can be delivered to devices such as tablets, phones, VR headsets, and other geodesic domes that use 3D projection.
Since many sports fans are aware of storytelling and data-driven insights, they have come to expect informative and relative data to be available at their fingertips. In fact, over 40% of fans are more apt to watch and engage with a sporting event if the live coverage includes real-time data and statistics. This is especially true with soccer fans, as 71% of those surveyed said they use a second screen to track statistics during every game.
Rather than a one-size-fits-all approach, FansXR prefers a one-to-one approach because of data-driven customization and mass personalization. Hence, failing to allow personalization risks not only losing revenue but brand loyalty as well.
The good news is that roughly one in five customers are willing to pay a premium fee of up to 20% just to personalize services and products, so this is excellent for revenue generation. Even more, successfully implementing a personalization strategy delivers between five and eight times the return on investment and can increase sales up to 10%.
How Does This Affect Sports Betting?
The daily fantasy sports market consists of over 60-million users at last count, and this industry relies heavily on live data to engage consumers. Many experts believe that sports betting wagering will grow from $2.2 billion in revenues 2020 to over $8 billion within five years in North America alone.
In-play betting supported by live data is expected to move to the forefront as the most popular form of sports betting in the United States and will represent seven out of every ten bets that are placed. None of this should come as a surprise since all of the North American major leagues (NBA, NFL, MLB, NHL) have incorporated live data into their streaming feeds.
What Value Does FXR Bring to the Table?
FansXR offers the unique opportunity for broadcasters, teams, and leagues to create new revenue streams from the use of innovative sports technology that combines XR and 5G capabilities to increase sponsorship placements, advertising, merchandise, and ticketing sales, and sports betting. The platform helps create new databases while also offering fans a unique and immersive experience.
The Future of Sports Innovation
Many large companies such as Google, Apple, and Facebook have already begun investing billions of dollars into the innovation of XR technology. Other companies, such as Hype Sports Innovation that champion new innovative sports technology have raised over $181 million in funding for startups. In turn, this has opened the door to lots of opportunities for companies looking to use AR/VR/XR technology to create novel apps and user experiences. To put this in perspective, the AR market alone is expected to grow from $15.3 billion in 2020 to an astounding $77 billion within five years.
The bottom line is there’s no better time to partner with FansXR because as AR/VR/XR technologies become more mainstream and the demand will continue to rise.
For More Information Visit, fansxr.com
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