The Wharton Sports Business Club, along with the Media and Entertainment Club, held its second industry panel of the semester on November 27th. The club assembled another all-star lineup of industry executives, this time to discuss new media and its role in the consumption of sports. The conversation was moderated by Legal Studies Professor Scott Rosner, Assistant Director of Wharton Sports Business Initiative. The panelists included: Michael Allen, Senior Director Digital Products for the NBA; Ryan Donovan, VP Marketing for Versus; Justin Shaffer SVP New Media for MLB Advanced Media; Chris Vollmer, VP Consumer and Media Practice for Booz Allen and a Wharton Alum.
The shared sentiment among the panelists was that the recent advances in media have greatly changed the way people consume sports content – they are less inclined to watch live sporting events than ever before. Aside from when their teams are doing well, or the occurrence of big events such as historical feats and momentous rivalries, fans would rather get their sports in short-clip form such as that shown on ESPN or what is available on the internet. This phenomena, coupled with the increasing availability of DVR capabilities has also impacted the way sponsorship is gained, valued, and designed.
Justin Shaffer explained that MLB Advanced Media is attempting to revive fan interest in live games by combining the ability to watch games online with the popularity of online networking. They plan to provide a platform where online consumers can watch the games and interact with each other at the same time, thus enhancing the viewing experience. This led to a discussion about the different strategies the NBA and MLB are following with regard to digital media. While MLB chooses to keep tight control on the distribution of their content in order to monetize their rights, Mike Allen the NBA is taking the opposite approach and encouraging the use of NBA content in platforms such as YouTube and Second Life as a way to increase the league’s popularity.
On the TV side of the media world, Ryan Donovan of Versus spoke about the vast number of short clips of niche sports that are now available on the Internet. He feels that this may serve to generate interest in sports beyond what is traditionally seen on TV and help the viability of the cable channels that use niche sports content to fill up their programming schedule. This may also help to increase interest in sports whose popularity has been suffering, such as the NHL and the MLS.
The panel ended with a brief conversation about the opportunities for MBAs in the sports industry. As Chris Vollmer from Booz Allen said, “Opportunities for people like you guys in sports are far far greater than ever before. Traditionally it was all about the dealmakers…there is now far more and growing demand for business leaders…and so many more opportunities for MBAs than a decade ago.” When asked for advice about pursuing such a career, the panelists emphasized the importance of networking and possessing a true knowledge about the business of sports in addition to having a passion for the industry. It also helps to have a certain skill set or expertise that sets you a part from your peers.
The evening concluded with a reception in the MBA Café where club members had an opportunity to talk one-on-one with the panelists about current topics in the world of sports. WSBC plans on presenting another panel this spring, so be on the look-out for further information. It is sure to be another impressive must-attend event.
Article contributor: Dana Komar
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