Gaming Platform For Live Sports
Fanbeat is a live-action gaming platform. It enables those watching sports on television to answer team-sponsored predictive-play and trivia questions for the chance to win prizes.
Eight out of 10 sports viewers said they use a smartphone or computer while watching live sports to message other fans, watch related videos, or search for player stats.
While this may seem like a distraction, research shows that “second screen” usage actually enhances engagement for sports programming. As a result, teams and advertising companies have looked at ways to synch these two mediums to increase viewer engagement.
Fanbeat’s platform provides a chance to accomplish this goal, as well as target the projected $106 billion mobile gaming industry.
Users sign up for a specific game or event (for example, a basketball game between the New York Knicks and Boston Celtics) and answer various predictive-play and trivia questions about the game.
Typically, a handful of questions are posed to users during breaks in the live game action. Users gain points for correct answers, which they can use to redeem for prizes including signed memorabilia, event tickets, and sports equipment.
The platform is free for users. Fanbeat generates revenue from its partners who sponsor the games. These partners, which include sports teams and sports-related media companies, pay a fee to Fanbeat to sponsor either a team’s entire season or a specific event.
In exchange for sponsoring a game or event, teams are provided with a mobile asset they can use to create additional advertising opportunities. In addition, Fanbeat enables teams and companies to collect actionable data from fans and viewers.
Fanbeat’s partners include the Chicago Bulls, Atlanta Braves, and the Golf Channel. The company began generating revenue in 2016, and brought in $250,000 in 2018.
This year, Fanbeat will launch new video questions on its platform, and launch a live-action wagering version of its predictive-play and trivia-based game.
This version, in partnership with licensed gaming operators, will enable users to wager bets on sporting events and receive cash payouts.