The Sports Advisors is a biweekly roundtable featuring experienced operators —across media, sponsorship, monetization, and technology— analyzing the properties, topics, and trends that matter, and the lessons they provide to the broader industry. 

In the latest episode, four JohnWallStreet Advisory advisors explain how the decline in local media rights values to nearly zero for many MLB, NBA and NHL teams —and shrinking spending on entertainment programming— seemingly offers a preview of what a highly consolidated, lower-margin video distribution business is most likely to yield for national sports rights in the years ahead. We then discuss a multitude of ways for challenger properties to replace the lost revenues.

The cast for the twelfth episode in a row includes:

As always, you can connect with any one of the JohnWallStreet Advisory advisors by sending a note to [email protected]. In fact, we encourage it!

Key insights and takeaways from the 55-minute conversation:

Create New Content Assets to Sell

Lower rights fees —or even smaller increases than anticipated— can leave a rights owner with a revenue gap. Sponsorship is an obvious place to turn to fill it. But don’t expect those dollars to come from existing partners without creating new inventory.

“The first alternate source of revenue for most people is to go to [existing brand partner executives, like] Nick Kelly, and ask them to pay more. That's the wrong place to go. Nick Kelly already believes in you, but he doesn't believe in you plus 20, 30, 40, 50% just because you lost some money elsewhere, Brody said. 

To capture more sponsor spending, rights owners must deliver more value.

“Creating other forms of content, shoulder programming, [is likely to be part of the solution. However, fans] don't want to see coaches' shows,” Brody said. “[They] want to get closer to the players. Mic the [athletes. Fans] want to know what's going on in the locker room...So, give them [more of] the things they want...That's how you'll [eventually] get there.”

AltCast Model Offers Path to Monetization and General Market

Offering multiple versions of a live game broadcast could create distinct sponsorship opportunities (think: a technology company might be inclined to advertise during an AI-generated cartoon broadcast, while a sports betting brand prefers a ManningCast-style alternative). Whether those feeds can attract audiences at scale remains a question. However, that is beside the point.

“Segmentation and alt-casts, that's the future,” Crakes said. “Because it opens [the rights owner] up the general market again…. By using your live events as content engines and then engaging [with clipping] on social, you open yourself up to people that don't have to watch your games; but the games still have to be played, [and those clips] can be monetized. [Engagement] with the players, the culture, the food, the stadium, anything that can be made a story about [could be the basis for an alt-cast].”

Rethink the Broadcast

Maximizing media rights revenues may require more than delivering eyeballs in the years ahead. Leagues may also be forced to rethink how their games are presented. 

“Are you willing to change the format of your broadcast, of your live games, to create new revenue opportunities for the broadcasters to justify the investment they're spending with you,” Kelly said.

Those that are must figure out what the new inventory could look like and how much extra advertisers would pay for it.

“It [is going to take] some behind-the-scenes work between the rights holders, [their] media partners, and even some of the biggest spenders [to find out what they would see value in] and at what [price point],” Kelly said. “This goes back to even 10 years ago, when [the networks] started doing the squeeze-ins on NFL [broadcasts] so [that] there's no break in the action; all of a sudden, [viewers see] this L bar with a commercial running over top of it. That was part of the [rights holders’] last rights deal with the league. But again, for them to pay what they pay now, they needed more incremental inventory because there's only so many 30-second spots they can sell.” 

Investing in Fan Identity Infrastructure Can Drive Revenue Growth

Rights owners seeking to reduce dependence on media rights revenue would be wise to invest in infrastructure that allows for a single fan profile across every touchpoint. Having it enables the organization to develop a more complete understanding of who their fans are, how they engage and ultimately spend.

“One login. Every fan, every door. Tickets, [team] app, [within a] mixed-use [district, at] concession [stands etc]. If you can have one profile that works not only in your walls but those that are associated with you, that's going to [be] the easiest way for everyone to be able to access the data, drive incremental spend, and create an ecosystem effect,” Shah said. “[Having a unified fan identity system] will allow [a rights owner] to generate more short-term revenue and long-term revenue because the data profiles will [provide] more fidelity when you're doing your media rights deal, which is a long-term play. But locally you'll have the ability to have a more robust secondary revenue stream [too].”

📺 Watch the full episode on JohnWallStreet’s YouTube page.
🎧 Listen on Apple Podcasts or Spotify.

Catch previous episodes of The Sports Advisors on JohnWallStreet’s YouTube channel, including discussions on the Saudi Public Investment Fund’s decision to stop funding LIV Golf, Vancouver Whitecaps FC potentially relocating to Las Vegas, the 2026 World Cup serving as a stress test for the modern sports business model, a sports betting reality check, challenger leagues as investments, premium sponsorship inventory, local sports media, making MLS Major League, the USTA and U.S. Open, LSU vs SEC, and what comes next for WNBA.

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The next episode will be released on Wednesday, November 4.

On the latest episode of JaneWallStreet Presents: At The Table, JaneWallStreet Executive Chair Deirdre Lester sits down with SPORT BEACH CEO Beth Sidhu. In this 55-minute conversation the two explore Cannes’ value as a deal-making hub, why athlete partnerships should go beyond name, image, and likeness, why the ongoing sports boom comes with a deadline to deliver, and more.

📺 Watch the full episode on JohnWallStreet’s YouTube page.
🎧 Listen on Apple Podcasts or Spotify.

Don’t forget to like and subscribe!