What is the value of an idea in a market where similar products or services exist?
I am old enough to remember that at the inception of googles search engine there were at least 5-10 major search engines (Netscape, Internet explorer, Yahoo, Dogpile, Altavista, etc) and if the creators of google had thought that the market was saturated would they have created the search engine?
Has YouTube matured enough for new independent specialist\niche versions of YouTube. Dedicated to sports, If I wanted to start a dedicated tube channel dedicated to sports similar to YouTube. What are YouTubes strength, weaknesses and what are the opportunities or threats. How this can be integrated and improved in the new service. What will the new service provide for the creators and users of sports related content. and what role technology and social media can play in the creation, marketing and adoption of the new service.
This is not the direct value of the sports media\ reportage\YouTube monetisation, but the ecosystem that drives its value and engagement is outlined below. I can see a derived weak valuation of $.5-10 billion at the lower end for monetisation in this ecosystem. It should be noted apart from YouTube there are other services; Rumble, Vimeo, DTube, Internet Archives Video Section, Metacafe, 9GAG TV, Dailymotion, Vevo, Twitch, including popular spots blogs or mainstream sports media. The focus on YouTube is due to its size and influence.
- The global value of sports media rights expected to eclipse $60 billion by 2024, and the overall North American sports market projected to surpass $83 billion in value next year, America’s love affair with top-tier athletic competition is showing little sign of slowing down. pro.morningconsult.com
- The global value of sports media rights – $52.1bn in 2021 – has risen by about $7.2bn since last year, an increase of just under 16 per cent on last year’s Covid affected total. It is also about $1.1bn more than 2019’s total of $50.9bn, underlining the industry’s resurgence. sportbusiness.com.
- The global eSports market is projected to grow from $1.72 billion in 2023 to $6.75 billion by 2030, exhibiting a CAGR of 21.5% during the forecast period. fortunebusinessinsights.com
- “I=DEM” An abbreviation often helps to remember a formula: In this case “I=DEM”. I = D * E * M= The “I” stands for income and is of course our target value. The “D” stands for Demand and is simply the number of users of an offer. The “E” stands for engagement, is the “M” for monetization. partnersforsports
Can creating a specialized sports-focused video platform, “Sports Tube,” be a viable idea, it addresses the strengths, weaknesses, opportunities, and threats (SWOT) of such a venture in comparison the YouTube. Here’s an analysis of those factors and how they can be integrated and improved in the new service:
Strengths of YouTube:
1. Massive User Base: YouTube has over 2 billion logged-in monthly users, making it one of the largest online platforms globally.
2. Content Variety: It hosts a diverse range of content, including sports-related videos.
3. Monetization: Creators can earn revenue through ads, memberships, and merchandise.
Weaknesses of YouTube:
1. Content Overload: There’s so much content that discovering niche or specific sports-related content can be challenging.
2. Monetization Challenges: It’s competitive and often challenging to make substantial revenue, especially for smaller creators.
3. Copyright Issues: YouTube has strict copyright policies, which can be problematic for sports content that includes copyrighted material.
1. Niche Focus: Sports Tube can carve a niche by providing a platform exclusively for sports enthusiasts.
2. Better Monetization: Offer a more creator-friendly revenue-sharing model.
3. Interactive Features: Implement interactive features like live chats and sports-related quizzes.
1. Competition: Facing competition from established platforms like YouTube and sports-centric platforms like ESPN+.
2. Monetization Costs: Offering better monetization may reduce profit margins.
3. Legal Issues: Managing rights, licenses, and copyright infringement issues can be challenging.
Integration and Improvement:
1. Niche Curation: Focus on curating high-quality sports content for various sports, from mainstream to niche.
2. Creator Partnerships: Collaborate with sports influencers and content creators to attract talent to your platform.
3. Improved Monetization: Implement a revenue-sharing model that offers better returns to content creators.
4. Community Building: Develop a strong sports-focused community by enabling live discussions, forums, and fan engagement.
5. Legal Compliance: Ensure a robust legal framework for managing sports rights and copyright issues.
Creators and Users:
Creators could include athletes, sports commentators, trainers, coaches, and fans. Users would be sports enthusiasts, fans, amateur athletes, and anyone looking for high-quality sports content.
Role of Technology and social media:
1. AI and Recommendation Engines: Use AI to personalize content recommendations based on user preferences.
2. Live Streaming: Incorporate live streaming capabilities for sports events and discussions.
3. Augmented Reality (AR) and Virtual Reality (VR): Implement AR/VR features for immersive sports experiences.
4. Social Media Integration: Facilitate easy sharing of content on other social media platforms to increase the reach.
5. User Analytics: Utilize data analytics to understand user behaviour and preferences better.
In summary, while YouTube has its strengths and weaknesses, creating a specialized sports video platform like Sports Tube should be a viable idea. It should focus on providing a niche, high-quality sports content platform, fostering a supportive community, offering better monetization options for creators, and leveraging technology and social media to enhance the user experience. Success will depend on effective differentiation, strong legal management, and effective partnerships with sports influencers and content creators. The reader needs to look at the market size and alternative services to YouTube such as Rumble, Vimeo, DTube, Internet Archives Video Section, Metacafe, 9GAG TV, Dailymotion, Vevo, Twitch. even popular spots blogs or mainstream sports media etc. who are the players in the market and the services provided\ product features. Perform a market analysis and segmentation. Stakeholder analysis, financial analysis and every aspect of a business plan see the appendices.
The analysis and considerations above should be further developed,iterated and user research performed. Based on what we documented we can present this in a proposal format:
Proposal: Sports Tube – Your Ultimate Sports Content Destination
We propose the creation of “Sports Tube,” a dedicated platform for sports enthusiasts, content creators, and industry professionals. Sports Tube aims to provide a one-stop destination for a wide range of sports-related content, fostering community engagement, and offering various monetization opportunities.
Unique Selling Points (USPs):
Sports Tube will stand out by offering a unique combination of features and functionalities that cater to the diverse needs of sports content creators and consumers. Our USPs include:
1. Aggregation of Diverse Content: Sports Tube will aggregate blogs, videos, shorts, audio/video podcasts, sports broadcasting media, sports media training channels, sports training channels, industry newsletters, and bulletins, creating a comprehensive sports content hub.
2. Virtual Sports Events and Conferences: Introducing virtual sports events and conferences, leveraging Zoom-like functionality, to engage fans, professionals, and industry stakeholders on a global scale.
3. Sports Industry Jobs Portal: A dedicated job portal for sports industry careers, enabling employers and agencies to post job ads, conduct video interviews, and connect with potential candidates efficiently.
4. Sports Virtual Studio: Empowering content creators with a customizable virtual studio application, similar to Unreal Engine, for hosting podcasts, interviews, and commentary in immersive environments.
5. Group Creation and Messaging: Facilitating community-building with group creation and messaging features, fostering interaction and discussions among like-minded sports enthusiasts.
6. Sports Product Shopfronts: Enabling sports-related businesses to set up online shopfronts, expanding their reach and revenue streams.
7. Representation of all sports including E-Sports (see value above), New sports such as drone racing and Gaming.
8. Welcome content creators for all sport both pro and amateur: Independent creators, influencers, media personalities. Established media networks: Broadcast, Newspaper, Radio. Esports Gamer and personalities Sports federations. Sports by country. Sports by Type. Sports clubs: Current, historical team and timelines. Sports Player and alumni channel\ alumni groups. Sports media companies. Sports equipment companies. Sports Personality. Sport writer channels (this list is not exhaustive)
– Social Media Integration: Seamlessly integrate with popular social media platforms like Twitter, Facebook, and Instagram for wider content distribution.
– Alerts and Notifications: Keep users informed about new content, events, and interactions through timely alerts.
– Creator Control: Empower administrators with control over content management, statistics, user management, customization, and more.
– Viewer Support: Provide robust viewer support for a seamless user experience.
– Multi-Platform Accessibility: Ensure accessibility through mobile apps, websites, Smart TVs, and other devices.
– The Creator forum \discussion board for improvement of the Apps and service. The User feedback forum improvement of the Apps and service
– Viewer channels, offering a platform for fan engagement where the user(viewer) can see their engagement, history, notification, responses, Lists, subscription and can create a profile and join groups etc.
-Blog tools creation and integration: provision of tools for blog\website creation and integration.
– Online sports radio aggregation.
– Additional considerations in conclusion.
Sports Tube will offer various monetization avenues, including:
– Advertising Income: Generate revenue through advertising partnerships and placements.
– Sponsorships: Content sponsorships and engagements
– Memberships: Offer premium memberships with access to exclusive content and features.
– Donations: Enable viewers to support their favourite creators through direct donations.
– Direct Sales: Allow businesses to sell their sports-related products directly on the platform.
– Partnerships: Attract sponsors for exclusive events and content
– Additional considerations in conclusion.
Sports Tube aims to revolutionize the way sports content is created, shared, and monetized. With its unique features, extensive content variety, and commitment to serving content creators and enthusiasts alike. The following consideration will need resolution:
1. Niche Focus- Explanation of the niche focus strategy. Identification of target audience and their needs. How Sports Tube intends to cater exclusively to sports enthusiasts.
2. Better Monetization – Description of the current revenue-sharing model on the platform. – Proposed changes for a more creator-friendly approach. Benefits of the new model for content creators.
3. Interactive Features – Introduction of interactive elements like live chats and sports-related quizzes. How these features enhance user engagement. Benefits for both creators and viewers.
1. Competition – Analysis of the competitive landscape. Identification of major competitors (e.g., YouTube, ESPN+). Strategies to differentiate Sports Tube from competitors.
2. Monetization Costs – Discussion of the potential impact of offering better monetization. Strategies to maintain or increase profit margins. Balancing creator incentives with financial sustainability.
3. Legal Issues – Discussion of the challenges related to rights, licenses, and copyright. Strategies to proactively address legal issues. Importance of a strong legal framework.
New Ideas and Innovations:
How to introduce new features with Agility
1. eCoupons – Introduction of eCoupons as a means to incentivize content creation and user engagement. How eCoupons can be integrated into the platform. Benefits for creators and users.
2. AI Integration – Implementation of AI for content recommendation and personalization. How AI can improve the user experience. Potential use of AI for content moderation and copyright infringement detection.
3. Sports Clubs and Athletics Directories – Introduction of directories for sports clubs and athletic organizations. How this feature can enhance user engagement and community building. Benefits for both users and organizations.
1.Business plan outline
Creating a business plan for Sports Tube involves outlining key aspects of the venture to ensure its success. Here’s an outline of a comprehensive business plan for Sports Tube:
1. Executive Summary:
– Brief overview of Sports Tube.
– Mission and vision statements.
– Summary of key goals and objectives.
2. Company Description:
– Detailed description of Sports Tube.
– Background and history of the project.
– Legal structure (e.g., LLC, corporation).
– Location and facilities (if applicable).
3. Market Analysis:
– Industry analysis of the online sports content market.
– Target audience and user demographics.
– Competitive landscape and SWOT analysis.
– Identification of market trends and opportunities.
4. Products and Services:
– Detailed description of Sports Tube’s offerings.
– Explanation of unique features and functionalities.
– Outline of content categories and formats.
– Introduction of new products and functionalities.
5. Marketing and Sales Strategy:
– Identification of the target market.
– Marketing strategies to acquire and retain users.
– Advertising and promotion plans.
– Sales strategy and revenue generation tactics.
6. Competitive Analysis:
– In-depth analysis of competitors.
– Differentiation strategies.
– SWOT analysis specific to competitors.
– Strategies for outperforming competitors.
7. Operations and Management:
– Team structure and roles.
– Key personnel profiles and expertise.
– Development and content management processes.
– Technology and infrastructure requirements.
8. Financial Plan:
– Revenue model (e.g., advertising, memberships, sponsorships).
– Sales projections and growth targets.
– Expense projections, including development, marketing, and operational costs.
– Budget allocation and financial projections (profit and loss statement, cash flow statement, balance sheet).
9. Funding Needs:
– Identification of capital requirements.
– Funding sources (e.g., investors, loans, grants).
– How funds will be utilized.
10. Risk Assessment:
– Identification of potential risks and challenges.
– Risk mitigation strategies.
– Contingency plans for unforeseen circumstances.
11. Timeline and Milestones:
– Project timeline with key milestones.
– Milestones for product development, marketing campaigns, and user acquisition.
12. Legal and Regulatory Compliance:
– Compliance with intellectual property, copyright, and licensing laws.
– Privacy and data protection measures.
– Contracts and agreements with content creators, advertisers, and partners.
13. Exit Strategy:
– Potential exit options (e.g., acquisition, IPO).
– Criteria for evaluating exit opportunities.
– Contingency plans for exit scenarios.
– Supporting documents, such as resumes, market research data, and legal agreements.
– Additional information relevant to the business plan.
– Summarize the overall business plan.
– Reiterate the vision and mission.
– Highlight key takeaways and the path forward.
A comprehensive business plan for Sports Tube should provide a clear roadmap for its development, growth, and long-term success. It serves as a valuable tool for securing funding, guiding operations, and ensuring that the venture aligns with its strategic goals.
2.An alternative view of the proposal
The blog post above in a barebones\ outline format without the narrative:
An aggregation of the following services:
- Audio \ video podcast
- Sports broadcasting media Training channels,
- Sport industry newsletter and Bulletins,
New products and functionality for consideration
- New product: Hosting Virtual sports events and conferences (see zoom functionality)
- New product: sports Industry jobs employment website, job adverts being placed on the site on behalf of employers and employment agencies. (also enables video interviews etc).
- New product: sports virtual studio this an application that enables content creators to host podcasts, interview or commentary choose and customise environment (similar to Unreal Engine).
- New product: Groups creation and messaging
- New products Sports products related shop fronts
- Integration with other functionalities applications social media: X known as twitter, Facebook, Instagram etc
- Alerts and notifications
- Creator control: Administrators of the account set up the Content Manager: statistics, and functionality, add user, customisation etc
- Viewer supports
- Mobile App, website, Smart TV and other implementations, etc
- Advertising income
- Others: direct sales
Contact creators are:
If you are a content creator you concerns are
Readership, Income, Coverage and advertisement and marketing, sales, integration with other social media, growth, The sports tube sales and marketing strategy, competition, copyright, etc
The definition of the spots tube content creators (this list is not exhaustive) are:
- Independent creators, influencers, media personalities
- Established media networks: Broadcast, Newspaper, Radio
- Sports federations
- Sports by country
- Sports by Type;
- Sports clubs: Current,
- Sports Player and alumni channel\ alumni groups,
- Sports media companies
- Sports equipment companies
- Sports Personality channels
- Viewer Channels
Here are some alternative names for the proposal “Sports Tube – Your Ultimate Sports Content Destination”:
1. Sports Hub: A New Era in Sports Content 2. GameChanger: Revolutionizing Sports Content
3. SportsSphere: Your Premier Sports Community 4. SportsStream: Where Passion Meets Content
5. Athlete’s Alley: Unleash Your Sporting Spirit 6. PlayBook Plus: Elevating the Sports Experience
7. Sports Pulse: Where Fans and Creators Unite 8. SportsFusion: Beyond Traditional Broadcasting
9. TeamTalk: Where Sports Stories Unfold 10. ProPlayground: Your Playground for Sports Content
11. SportSync: Synchronize Your Sports World 12. SportsVerse: Where Stories Are Written in Sports
13. GoalGetters: Achieving Sporting Dreams Together 14. Sports Nexus: Where Sports Collide
15. SportyScape: Dive into the World of Sports
These alternative names capture the essence of the proposal and the vision of the Sports Tube platform. Feel free to choose the one that resonates best with the project’s goals and branding or create a new one.