Our Take on the launch of Decathlon Pulse, Decathlon’s Innovation Arm and the agreement between Snapchat and Paris 2024 to provide content during the Olympics
Our July newsletter is here, packed with the latest industry insights, updates on our recent projects, and exclusive content to keep you ahead in the sports world. And there has been a lot to talk about! Dive into our latest insights, including our take on Decathlon's new Pulse accelerator programme and the exciting partnership between Snap Inc. and Warner Bros. Discovery. Also on the menu:
Plus, as always, catch up on the latest sports industry news and trends.
Decathlon launches Decathlon Pulse to accelerate its impact and expand its global footprint
In a sports and wellness market offering major growth opportunities, DECATHLON is determined to explore new ways to expand its footprint for the benefit of people, society at large and the planet.
An independent entity within the Group, DECATHLON PULSE will invest in innovative people and businesses that share its values and commitment. In line with DECATHLON’s global strategy, DECATHLON PULSE will fully complement the Group’s core activities by diversifying its ability to drive impact and lead the change.
🔎 Our Take:
For those familiar with the industry, this move is a natural step forward.
It leverages Decathlon's extensive assets, ensures business ROI, and provides tangible value for innovation.
This trend mirrors developments in other industries, where companies are setting up their own investment arms alongside accelerator programs. For instance, the banking industry has already set up similar initiatives, like BNP Paribas' FinTech fund which aims at leveraging open innovation to source the best banking technology.
In sports, similar initiatives include the NBA Launchpad, City Football Group's equity team and the recent Major League Soccer Innovation Labs.Sports organisations cannot manage their data, media, or digital strategies alone. Outsourcing parts of the business to relevant partners, especially in tech, is essential.
To effectively navigate this landscape, organisations need a clear vision, strategy, and capabilities to:
Navigate the complexity of tech providers: The tech landscape is vast and varied, with numerous providers offering different solutions. A dedicated investment arm allows organisations to thoroughly evaluate and select the best technologies, ensuring they meet specific business needs and integrate seamlessly with existing systems.
Test the real business value of innovations: Not all innovations will deliver on their promises. By investing in and partnering with startups, organizations can pilot new technologies in controlled environments, assessing their actual impact on operations and fan engagement before making larger commitments.
Be rewarded appropriately through various possibilities: Engaging with startups and innovative companies can offer more than just immediate solutions. Organizations can negotiate commercial agreements, secure equity at favorable rates, or form strategic alliances that provide long-term benefits and mutual growth opportunities.
Provide significant added value with strong assets: Established organizations like Decathlon bring invaluable resources to the table, such as industry expertise, extensive retail networks, and robust consumer feedback mechanisms. These assets can significantly boost a startup’s growth and development, creating a symbiotic relationship where both parties thrive.
Preserve and maximize returns on critical business areas: Critical aspects of the business, such as customer engagement and operational efficiency, can benefit from strategic mergers, acquisitions, and joint ventures. By integrating innovative companies into their ecosystem, organizations can enhance these areas while also driving innovation and staying ahead of competitors.
To maximise the upside and ensure fair value from startup engagements, organizations must have the proper schemes in place and get involved on a daily basis. With Pulse, Decathlon seems to be willing to venture into that direction.
Snapchat to provide Paris 2024 content in Europe through extended WBD deal
Global media giant Warner Bros. Discovery (WBD) has expanded its partnership with social media platform Snapchat for another two years, covering multiple regions and centered around the upcoming Paris 2024 Olympic Games.
🔎 Our Take:
Among the numerous sports news around the Olympics, of the summer, the collaboration between WBD and Snap. Inc caught our attention.
This move is strategic and timely, aiming to capitalize on the momentum of one of the most premium events in WBD's portfolio.
The goal is clear: to rejuvenate and expand the Olympics audience, especially among younger demographics. Snapchat’s user base is predominantly in the 18-to-24 age range, accounting for 38.5% of its users.
This is significant when considering that only 31% of engaged sports fans in this demographic watch sports live (YouGov).
Moreover, this collaboration aligns perfectly with the new generation's consumption habits and preferences, which crave athlete-focused content. The planned highlights and daily behind-the-scenes content on Snapchat will resonate well with users who already use the platform to follow celebrities and athletes.
This strategy taps into the existing behaviour of Snapchat users, enhancing their connection to the Olympic Games through digital and social experiences.
In our piece about Tech Innovations at Olympics featured in this month's newsletter, we also underlined the development of a video game "Olympics GO!", another initiative to foster deeper fan engagement with the younger generations. On top of this mobile game, the IOC teamed up with Roblox to engage with fans in a virtual world, clearly demonstrating the Olympics' wish to initiate the fan acquisition process as early as possible.
To go back to Snapchat, it's important to note that this isn't their first foray into the sports world. The app has previously partnered with UEFA to deliver augmented reality experiences for the EURO and Champions League finals. These past initiatives have set a precedent, demonstrating Snapchat's capability to engage sports fans through innovative content.In summary, the WBD-Snapchat partnership for Paris 2024 is a well-calculated move to engage a younger, tech-savvy audience.
By leveraging Snapchat's platform and its user base, WBD aims to make the Olympics more accessible and appealing to a demographic that consumes content in a dynamic and interactive way.Innovation in broadcasting and content delivery is essential for keeping major sporting events like the Olympics relevant and exciting, especially since Warner Bros. Discovery and the IOC have maintained a successful relationship and will remain partners in Europe until 2032 at least.
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