An illness known as the Novel Coronavirus has spread throughout the world becoming one of the most widespread pandemics. This creates a problem for today’s idea of normal life. While all life is affected, fewer markets were hit harder than the Sports & Entertainment Industry. Without Venue revenue due to lack of fans and seasons being postponed. The NFL is looking at a year of major losses in revenue. With that comes a big question, what do we do now? Sports and Entertainment team 7 of the TechPoint S.O.S Challenge has the answer. To help fans engage with their favorite teams and players, Team 7 has created NFL For You, an online service allowing fans to enter chat rooms with players, for now starting with the Colts as Indianapolis is our home base, see players workouts, check the teams schedule, get tickets for a drive in movie at Lucas Oil Stadium, and more. This will allow the Colts and more teams to gain revenue from their stadiums and other assets while engaging their fans in a fun and revolutionary way.
Harrison Maginn- Project Manager of NFL For You. Ivy Tech double major student in Business Administration and Entrepreneurship. Contributed Customer Persona, Revenue, Abstract, and Presentation.
Seth Soltz- Business Analyst of NFL For You. Indiana University - Bloomington double major student in Information Systems and Finance. Contributed to Environmental Analysis, Value Proposition, and Presentation.
Hanwen Gu- Developer of NFL For You. Purdue University senior in Statistics. Made the video feed part possible.
Elle Vuotto- Developer of NFL For You. Rose-Hulman Institute of Technology student majoring in Biomedical Engineering with a minor in Computer Science. Contributed to the drive-in, calendar, store, and settings sections of the website.
Sanskar Gupta- Marketer and Business Analyst. Indiana University - Bloomington majoring in Marketing and Business Analytics. Contributed Business Model Canvas, Presentation slides, Abstract.
Jonathan Buchanan - Developer of NFL For You. Data Science Class of 2023 at Purdue University with a primary interest in machine learning. Created and styled the intro , login, registration, home, and roster page.
How did you decide on this customer segment, problem, and solution?
While doing our initial research we found out that 9 months after a recession, which this global pandemic is, fan engagement dies and so does use of stadiums. Our app and drive in, will help overcome these problems. It will provide something for fans to engage with and show their favorite team that they are loyal. At the same time, the players can show their love for the fans.
The drive in and movie solution, will help us use the stadiums that are otherwise going empty. This will help generate revenue that would be otherwise lost. Moreover, since the guests do not have to leave their vehicle for the movie they will be safe and hangout with the family and friends.
How did your team build and iterate on the solution?
To come to a solution the team spent several zoom calls talking to first gain some understanding of each other than propose ideas for the solution. To come to the final product, our team used a build as you go model to constantly improve on a basic idea and come to a final working service as a solution by meeting 2-3 times a week and break out meetings. The Go squad got to work on all of the deliverables including the Abstract, Slide Deck, Environmental Analysis, Business Canvas Model, Value Proposition, and Customer Persona. The Pro squad worked on the product which was a website, creating an above average, standout service delivering a revenue solution for Sporting Venues in a time when fan attendance and engagement is wavering or not allowed. To ensure quality and gain insight, coaching meetings happened 1-2 times a week. In these meetings, the coaches provided insights and helped foster creative insights to the project.
The biggest key metrics are from the revenue generation numbers. Starting with numbers generated in the NFL section, to get the subscription numbers the total amount of fans is 400 million. We assumed that around 260 million would be our addressable audience as 65% of fans follow social media for sports updates. Assuiming .005% or 1,300,000 fans would pay for 29.99 and .001% or 260,000 would pay for the 49.99 we see revenue per quarter as $50,688,300 from subscriptions. With just the colts alone we assumed .07% of fans would pay for 29.99 and .025% of fans would pay 49.99 for quarterly revenue of $2,421,262. For the advertisement revenue we assumed using the national average of .58 cents per click through that .05 percent of fans would click through the ad.