Olympics CTV Ad Performance Data From Keynes Digital Shows Lift in Streaming Sports Viewership
New Olympics and live streaming sports CTV ad performance data from Keynes Digital has revealed notable lifts in viewership metrics that are particularly relevant as Netflix moves into live sports, such as the Christmas NFL games and WWE Raw.
A snapshot of the Olympics results revealed:
- CVR: Up by 65%
- Transactions: Increased by 35%
- Revenue: Rose by 40%
- M-o-M Revenue: 26% increase in August
Additionally, metrics for live sports across various channels, particularly paid search, have shown notable lifts in new users and revenue, at 3% and 39%, respectively.
Dan Larkman, CEO and Founder of Keynes Digital, discussed these insights and what they mean for the future of live sports streaming with Streaming Media’s Tyler Nesler.
Tyler Nesler: Regarding the Olympics data, are there any specific demographic breakdowns (i.e., how Zoomers watched vs. older demographics, on what devices [mobile vs. CTV], and conversions based on demographics)?
Dan Larkman: We’ve observed some fascinating trends during the Paris 2024 Olympics. Nearly one in three viewers consumed the Olympics on mobile, tablet, or PC. By comparison, regular TV viewing typically sees around 18% of consumption on non-TV screens. Over the past five years, we’ve noticed a shift where younger consumers, many of whom don’t own TVs, instead opting to watch content on personal devices. This increase reflects a growing interest in the Olympics across all age groups.
This was further highlighted by the sports with the largest viewership, such as the continued success of Team USA’s Women, winning gold again. Women’s gymnastics, soccer, track, and water polo claimed the top spots in viewership. While male viewers traditionally dominate most mainstream sports, the Olympics saw a shift, with 60% of the audience being female. Even more interesting was the surge in consumer engagement with advertisements during the Olympic campaign, where we saw a 65% increase in conversion rates on-site.
How do you think a major platform like Netflix’s entry into live sports will impact paid search and viewership of live sports across various channels – will Netflix help to uplift lesser-known platforms featuring sports programming as well, or is there a risk of it dominating the market and drowning out other providers?
Live sports are clearly a significant focus for streaming services, marking a shift away from traditional media companies. Major players like NBCU, Fox, and Warner Bros. are not only competing against each other but also facing off against big tech companies. Recently, we've seen the planned launch of Venu Sports, which, in my opinion, represents an attempt by traditional media to stop competing with one another and instead join forces to challenge big tech. So, it’s no surprise that a judge has blocked that move.
We've known for a while that live sports are the primary reason people resist binge-watching shows and avoid unsubscribing from streaming services. Netflix’s move into live sports is both intriguing and expected. In 2015, Yahoo saw the value of live sports by streaming the first NFL game online, though that venture didn’t go so well for them. Netflix faced challenges at the end of 2023, with declining subscriptions, stricter measures on login sharing, higher prices, and the introduction of an ad-supported tier. Entering the live sports arena is a strong step in the right direction for Netflix, giving them a chance to both attract and retain their user base.
Personally, I’m not thrilled about Netflix only broadcasting one NFL game. It feels like they’re just dipping their toes in the water, and missing out on a single game may not matter much for most fans. However, die-hard fans might opt to watch it at a friend’s house or, worse for Netflix’s long-term stock performance, they could subscribe, watch, and then cancel afterward.
Increased exposure to live sports offers a great opportunity for smaller streaming services. Lesser-known sports are getting more airtime, which is excellent for the growth of these services and the sports themselves. The biggest challenge for these platforms is that advertisers prefer to run campaigns on mainstream services. Despite a hyper-targeted audience, advertising on Netflix, Hulu, or ESPN carries a different cachet than on a local sports network. As a result, these networks can charge a premium, and in the future, they'll likely have even more buying power as emerging sports gain traction.
Has any research or data been found regarding a specific increase in viewership for particular types of sports, i.e., a noticeable uptick in coverage/interest in a sport that was previously not as represented in traditional linear broadcasting?
Streaming services have enabled smaller sports to grow, allowing athletes to make a living by competing in their disciplines. Take Flo Grappling, for example, and their role in promoting Brazilian Jiu-Jitsu. The ADCC, the largest grappling tournament in the world, saw a significant increase in viewership. In 2011, YouTube clips from the event had around 46,000 views, whereas in 2024, Flo Grappling attracted over 150,000 live streamers for the tournament. By making content easily accessible, fans worldwide can enjoy, support, and help grow sports that were once considered purely recreational.
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