Snapchat is currently in the process of working out a deal with sports organizations and broadcasting stations to start broadcasting live major sporting events. According to Digiday, Snapchat will start this new trend with the NCAA men’s basketball final four and plans on eventually expanding it to more NCAA events in the future.
We got a preview of what Snapchat might have in store during the NCAA Football season this past fall where Snapchat had a “College Game Day” section on their account for all users to view. Having this function available will allow Snapchat users to submit their own experiences from the day and Snapchat can post in their event feed for users all across the world to view. Having this gives a sense of closeness to consumers and makes them feel like they are a part of the event even from thousands of miles away.
If the live sports event coverage goes through Snapchat can begin post actual game footage instead of just user and player experiences. They can show actual moments from the games as well as fan and player reactions to really get viewers excited and engaged.
According to Digiday:
Snapchat is looking to sell brand sponsorships for these stories and plans to split ad revenue among the sports leagues, the broadcasters and itself, according to one executive involved in negotiations. Turner is said to be close to finalizing sponsorship deals for the Final Four Stories, according to the executives.
While the Final Four deal involves both the NCAA and Turner, it’s an exception. In almost all other instances, Snapchat is looking to create media-rights deals with just the sports leagues.