Sports leagues, franchises and businesses are deploying tech to improve outcomes and experiences.
Media and entertainment industry outlook key takeaways
Innovation has paved the way for advancements in sports betting, including in-game wagering.
AI has strengthened performance analysis while improving the fan experience.
Media and entertainment trend #1: Tech advancements in the sports industry
Outlook
Technological advancements in sports elevate fan engagement and team success
Technology is transforming many areas of the sports industry, with AI and analytics enhancing betting, performance insights and the fan experience.
The sports industry is undergoing a technological revolution driven by data analytics and artificial intelligence (AI). These technologies are improving team performance andreshaping the fan experience.
From driving growth in sports betting to enhancing coaching techniques and fan engagement, data analytics and AI are essential for sports organizations to remain competitive and foster growth.
Media and entertainment trend #2: Box office success
The box office, facing challenges like strikes and streaming shifts, shows resilience post-pandemic. Studios adapt, tech giants invest in theaters, prompting industry changes.
The landscape is dynamic, reflecting the adaptability and transformation of the industry in response to evolving consumer preferences and global events.
Outlook
The box office remains the linchpin of the media and entertainment industry
The influence of studios has spread beyond theaters into various mediums, creating a vast landscape of opportunities.
Media and entertainment trend #3: AI disruption
Outlook
Creative industries need to prepare for generative AI disruption or risk falling behind
Generative AI technologies have the potential to revolutionize many industries, including media and entertainment.
Though still far from perfect, generative AI technologies have the potential to revolutionize many industries, including media and entertainment. Already this industry has quickly adopted these technologies, deploying them in creative processes ranging from generating first drafts of TV scripts to helping customize digital content for individual users.
The new required tax treatment of R&D expenses is also affecting M&A by worsening the tax posture of targets. Transaction planning that includes R&D cost analyses may enable deals to proceed by reducing the cash tax rate. However, the utilization of favorable tax attributes, such as net operating losses, may be limited by a change in ownership, which must be taken into account.
RSM contributors
The Real Economy Livestream series
Middle market outlook: Key economic themes for 2024
Join RSM US Chief Economist Joe Brusuelas and U.S. Chamber of Commerce Executive Vice President Neil Bradley as they discuss the current economic climate, including rising U.S. productivity, and the outlook for inflation and hiring.
Recorded April 2, 2024
