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Morgan Stanley Research looks at how changes in demographics, ownership, and distribution can boost tech adoption to revolutionize the global sports industry. Read more insights from Morgan Stanley.----- Transcript -----Cesar Medina: Welcome to Thoughts on the Market. I'm Cesar Medina, Morgan Stanley's Latin America Technology, Media, and Telecom Analyst. Today – we discuss what's driving the digital revolution in global sports. And what it means for fans as well as investors. It's Monday, August 11th, at 10am in New York.These days, watching a sporting event at home usually means streaming the big game on a large 4K HDR screen. Maybe even 8K for premium events. You might access real time stats from a supporting app or social media on a secondary device. Maybe even have a group chat with friends. But imagine a game with real-time personalized stats. Immersive alternate camera angles. Or even experiencing the match from a player's perspective—all powered by AI. These innovations are already being tested and rolled out in select leagues. Global sports generates half a trillion dollars in annual revenues. Despite all that cash, until very recently the industry was slow to embrace digital technology, lagging behind movies and music. Now that's changing – and fast.So, what's driving this transformation? Three powerful forces are closing this digital gap. One – younger, tech-savvy audiences demanding more immersive and personalized experiences. Two – new distribution models, with digital platforms stepping into the arena. And three – institutional investment, bringing capital and a push for modernization. You might ask – what does this all mean for fans, investors, and the future of entertainment? Let's start with fans. Today's sports fans aren't just watching—they're interacting, betting, gaming, and sharing. And younger fans are leading the charge. They are spending more time online and expect hyper-personalized content. They're more interested in individual athletes than teams, and they engage through social media, fantasy sports, and interactive platforms. Surveys show that fans under 35 are significantly more likely to spend money on sports if the experience is digital-first. Some leagues have seen viewership jump by 40 percent after introducing interactive features. Others are using AI to personalize content, boosting engagement and revenue. Digital transformation isn't just about watching games though—it's about reimagining the entire ecosystem. When it comes to live events, smart venues are using AI to adjust ticket prices based on weather, opposing team, and demand. Some are even using facial recognition for faster entry and purchases. Streaming platforms are making broadcasts more interactive, while combating piracy with predictive tech. As for engagement, fantasy sports, esports, and betting are booming. AI-driven platforms are helping fans make smarter picks—and spend more. Altogether, these innovations could boost global sports revenues by over 25 percent, adding more than $130 billion in value. While North America leads in monetization, Emerging Markets are catching up fast. In India, Brazil, and the Middle East, for example, sports franchises are seeing double-digit growth in value—sometimes outpacing traditional media. And here's the kicker: many of these regions have younger populations and faster-growing digital adoption. That's a recipe for serious growth. Meanwhile, niche sports and women's leagues are also gaining global traction, expanding the definition of mainstream entertainment. Of course, this transformation of the sports industry faces real hurdles—technical expertise, budget constraints, and cultural resistance among coaches and athletes. But the incentives are clear. And as more capital flows into sports—from private equity to sovereign wealth funds—digital transformation is becoming a strategic priority. So, what's the biggest takeaway? Global sports is no longer just about what happens on the field. It's about how fans experience it—on their phones, in their homes, and in the stadiums of the future. So whether you're an investor, a fan, or just someone who loves a good underdog story, this is a game worth watching. Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.
This week on Perf Damage, we're going behind the mask of the new 4K HDR release of Danger: Diabolik (1968) — coming soon from Kino Lorber!Charlotte walks us through the work behind the new transfer from the original 35mm camera negative—what was done, what wasn't, and why it looks better than ever. She shares behind-the-scenes stories of how some of the original opticals were updated, how a long-missing outro was rediscovered, and why this version is the most faithful to the original Italian release we've ever seen on U.S. home video.Meanwhile, Adam dives into the wild world of production drama—from casting clashes to Dino De Laurentiis being... well, Dino. Expect pulp, politics, and plenty of behind-the-scenes chaos.If you're a fan of Mario Bava, deep cuts in film restoration, or just want to know how Diabolik got his groove back in 4K, this episode is for you.Subscribe for more deep dives, restorations, and film nerdery.The new 4K HDR disc is coming soon from Kino Lorber!Note: This episode is not affiliated with or sponsored by Kino Lorber. We're just excited to talk about the work that went into this release and share what went on behind the scenes and we recommend that you pre-order a copy of the disc!Contact Us At:www.perfdamage.comEmail : perfdamagepodcast@gmail.comTwitter (X) : @perfdamageInstagram : @perf_damageLetterboxd : Perf DamageCheck Out our Youtube Channel:https://www.youtube.com/@PerfDamagePodcast
On this week's show we look at how the strategies keep changing in the streaming wars. We spend your money and design a home theater system for less than $2000. And as usual we read your email and take a look at the week's news. News: Broadcast Schedule's New Paradigm 75% of Streamers Have Tried an Ad-Supported Plan Google TV users will soon be asked to rate apps Viewers can now add Apple TV+ to a DIRECTV subscription Top Streaming Services Change Up Strategies A Business Insider article suggests the streaming wars have shifted from competition to strategic alliances and distinct priorities. Netflix now prioritizes engagement over subscriber numbers, revamping its homepage with vertical video to rival YouTube and TikTok. Disney focuses on subscriber growth through bundles with Hulu and ESPN, aiming for profitable expansion. Warner Bros. Discovery's Max emphasizes profitability, leveraging high-quality content to retain subscribers rather than competing with Netflix's scale. Engagement is key as streamers build ad businesses. Netflix, with 8% of U.S. connected TV watch time, uses engagement to reduce churn and support its $2.2 billion ad business. Amazon's Prime Video scales ads by enabling them for all users unless they opt out, using shopping data to boost ad effectiveness. While Netflix and Amazon focus on engagement for ads, Disney, Paramount+ (79 million subscribers), and Peacock (41 million) prioritize subscriber growth, though neither is profitable yet. Profitability is critical for WBD, which has cut Max's content spending to focus on financial sustainability, leveraging HBO's legacy content. Its bundling with Disney+ and Hulu supports international growth. Apple TV+ faces high churn due to its limited library, leaving its strategy unclear. As streamers balance growth, engagement, and profitability, alliances and niche strategies redefine success in a crowded market. Home Theater System for under $2000 Ok so you bought a house and spent all your money but you already had a 70” TV from your previous home. And while that has been great you want something more out of your TV watching experience. Somehow you scrape together a $2000 budget and want to know what kind of “Home Theater” System you can cobble together to provide you with immersive surround sound. For this exercise we are assuming a typical living room (e.g., ~15x20 ft) and a focus on movies and general entertainment. We will emphasize value and performance while keeping the setup beginner-friendly. Key Considerations Room Size: Our medium-sized living room can benefit from a 5.1 or possibly a 5.1.2 (Dolby Atmos) setup for surround sound. We have chosen to stay with a 5.1 system for budget concerns. Priorities: Clear dialogue, deep bass, and immersive surround effects are key for movies and gaming. Music performance is secondary but still considered. Components: You'll need an AV receiver, speakers (front, center, surrounds), a subwoofer, and a streaming device. Setup: We opted for wired speakers for reliability and cost savings over wireless systems, which can eat into the budget. Recommended System AV Receiver: Denon AVR-S760H 2021 Model ($500 from Amazon) We are on a budget so a 2021 model that does everything you need for a small family room on a budget is absolutely the right call here. Don't overlook last year's models on your A/V equipment. No one will walk into your house and whisper about last years (or four years ago) model behind your back. This is a 7.2-channel receiver with 75W per channel, supporting 4K/120Hz, Dolby Atmos, DTS:X, and room calibration (Audyssey). It's versatile, beginner-friendly, and handles modern formats for movies and gaming. 6 HDMI inputs (3 with 8K support), Bluetooth, Wi-Fi, and HEOS for streaming. Refurbished units can save even more. Speaker System: RSL CG3M 5.1 home theater system ($850 Direct from RSL) We splurged a little on the speakers. The CG3Ms will not disappoint! We have been fans of RSL since we had Joe Rogers on the show about 15 years ago. He is a musician and understands what music is supposed to sound like and has designed speakers with that in mind. This compact speaker system will put you right in the middle of a concert or movie! You really can't get better at this price. The 300 watt 10” subwoofer is plenty for your small to medium sized family room. Speaker Wire and Cables: Monoprice ($50 Budget) Pretty much from day one we have been saying buy good cables but don't spend a lot of money doing so. $50 at Monoprice goes a long way for your Speaker and HDMI cables. Streaming Device: ($150 Budget) A streaming device enhances your home theater by providing access to all kinds of entertainment options, including Netflix, Hulu, and Disney+,and YouTube. These dedicated streaming devices offer faster performance, regular software updates, and broader app compatibility. They also support advanced features like 4K HDR, Dolby Atmos, and voice control, elevating your viewing experience with superior picture and sound quality. Additionally, devices like Roku, Amazon Fire TV, or Apple TV are portable, affordable, and easy to set up, making them a versatile upgrade for any home theater, regardless of your TV's age or brand. Sales Tax: $90 - $150 Unfortunately we can't forget the tax man. There are a few places in the US that do not have a sales tax and other areas range from 6% up to 10%. Total Cost: ~$1,640-$1,700 This leaves ~$300-$360 for a programmable remote, Atmos, or height speakers. Or a year of a new streaming service. This system balances cost, performance, and future expandability, delivering an elevated experience for your new home without breaking the bank.