Bain & Company Highlights Innovations Transforming KSA’s Sports Sector at the 2nd Annual Stadiums and Sports Innovation Summit

Bain & Company participated in the second annual Stadiums and Sports Innovation Summit KSA, held from May 20 to 21 in Riyadh. The event explored the future of sports and stadiums, highlighting Saudi Arabia’s strategic positioning as a global hub for sports innovation.

The summit focused on revolutionizing the sports and stadiums industry, emphasizing the transformative goals of Vision 2030, which includes diversifying the economy, promoting a healthy lifestyle, and fostering a vibrant entertainment culture.

Bain & Company was thrilled to participate as a keynote speaker. Jürg Kronenberg, Middle East Partner and Head of the EMEA Sports practice at Bain & Company, delivered a presentation on “Global Innovations in Sports and Implications for KSA’s Sports Sector”, highlighting nine main trends shaping global sports:

1. New Sports Formats: Innovative sports formats are becoming mainstream.
2. Direct Investment: Increased direct investment in sports teams and leagues.
3. Athletes as Brands: Athletes are evolving into global brands.
4. Digital Media: Digital media is disrupting traditional linear broadcasters.
5. 360° Fandom: Fan engagement extends “from matchday to everyday.”
6. Health & Wellness: Growing emphasis on health and wellness and sports.
7. Location-Based Experiences: Rise of advanced facilities and location-based experiences.
8. Data & Tech 2.0: Emergence of advanced data and technology solutions.
9. New Business Models: Innovative business models to monetize sports assets.

Kronenberg also discussed the implications and opportunities these trends present for KSA’s sports sector:

• Global trends will fuel the growth of the KSA sports sector.
• Fan engagement in KSA needs a radical transformation.
• Privatization and investment are essential to accelerate growth.
• A commercial focus is crucial for driving sustainability.
• KSA has a unique opportunity to leapfrog and innovate in the sports sector.

“As we embrace these global trends, there is a tremendous opportunity for Saudi Arabia to lead in sports innovation, leveraging Vision 2030’s goals to create a vibrant, sustainable sports ecosystem,” noted Jürg Kronenberg. “Investing in transformative business models and innovative solutions will not only support economic growth but also enhance fan engagement, commercialization potential and operational efficiency.”

Bain & Company continues to support the development and professionalization of sports in the Kingdom. The sports sector presents a significant opportunity for Saudi Arabia to diversify and grow its economy, but will require substantial transformation, investment, and innovation.