In an average year, Apple, Inc. hosts three to four product events, including a Spring event in March and a September event dedicated to the iPhone and Apple Watch. At the end of 2021, as per the TechCrunch website, Apple blessed us with the news of the iPhone 13 Pro, Apple Watch Series 7, and a new iPad and iPad mini, and that was certainly enough excitement to last tech lovers until at least March.
However, Apple, being the pioneer that it is, had one more surprise before its first event of the new year: it is moving into live sports. At least, the company is trying to, and if it does, that would be huge news for the worldwide sports entertainment and technology industry.
Apple Eyes Live Sports
In January 2022, the New York Post reported that Apple is allegedly in “serious talks” with Major League Baseball (MLB) to broadcast games next season. The news comes on the back of Apple previously expressing interest in the “NFL Sunday Tickets” package, which could bring in $2.5 billion annually. While there is no guarantee that Apple will secure a deal with the MLB, we do know the organization is actively taking offers on national weekday games. If the MLB selects Apple over Amazon, which has created a name for itself in sports via Amazon Prime over the years, this might reflect a newfound optimism surrounding Apple and sports.
Entering into sports broadcasting is a milestone for Apple, but it is not the first time the technology company has shown interest in sports content and entertainment. For example, one of the most popular shows on its Apple TV+ platform is Ted Lasso, a comedy about an American football coach drafted to manage an English football team. Similarly, Apple has also reportedly developed a code for its tvOS and iOS operating systems called “SportsKit,” which will provide real-time updates on sports teams.
Apple Is Always Looking To Grow
Over the years, it has become clear that Apple, the largest public company by market cap in the world, has close eyes on the economy, including new trends, consumer interests, and emerging industries. The company does not believe established success should stunt growth, which is why Apple is constantly releasing updates and new products, such as its upcoming foldable phone, which, as we covered on IGeekphone, will be released next year.
Realizing there has been an increase in competition is also one of the reasons why Apple has started to break into mainstream industries on its own and in new ways. For example, the 5G technology industry has grown significantly in the past couple of years. As a result, and according to Allied Market Research, the global 5G market is now expected to reach nearly $700 billion by 2026. That marks a CAGR of over 115% from 2021 to 2026. In light of this, and as we reported here on IGeekphone, reports have suggested that after 2023, Apple will utilize self-developed 5G products rather than rely entirely on Qualcomm, its current baseband supplier to the iPhone.
Knowing this, it is no surprise to hear that Apple is also planning on moving into live sports entertainment, considering this sector is soaring just as high as the 5G market. For example, in North America, the sports market is expected to increase to over $80 billion by 2023. According to Statista, much of this growth is projected to come from segments like media rights, sponsorships, and merchandising.
Of course, Apple does not just cater to North American audiences, nor do sports. Elsewhere around the world, sports entertainment is growing in other ways, such as online sports betting. For instance, top clubs in leagues like the Premier League have partnered with casino operators, such as Betway Casino, the principal partner of West Ham United FC. Other websites also offer football-themed slot games and mobile sports wagering, which is a fast-growing trend in UK sports entertainment, as well as North American. For example, SP Global recorded that in 2021, 86% of sports wagers were placed online or through mobile devices. This reality is something Apple could benefit immensely from, considering many casino operators have their mobile apps available for download on the iOS App Store.
Apple is one of the largest technology companies in the world for a good reason. It continues to grow by catering to consumer interests and releasing updates and new products like the iPhone Pro 13, which, as covered here on IGeekphone, has a faster GPU than the iPhone 12 Pro. However, Apple is also branching out into other emerging industries, such as 5G technology and, now, live sports entertainment. Even if Apple does not secure the MLB deal, it is not a missed opportunity as it seems likely that Apple will find ways to get more involved in North American and UK sports throughout the year.