Social Media at the Olympics: Evan Spiegel & Alexis Ohanian 07/31/24
Jul 31, 2024
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Evan Spiegel, CEO of Snap, and Alexis Ohanian, Reddit co-founder and venture capitalist, dive into the dynamic intersection of social media and women's sports. Ohanian emphasizes the business potential in this arena, discussing his new women’s-only track meet with a huge prize purse. Spiegel showcases Snapchat's augmented reality features for the 2024 Olympics, predicting a shift from screens to lenses. They explore how tech enhances visibility and engagement in women’s athletics, presenting an exciting future for the Olympic Games.
Alexis Ohanian emphasizes the booming investment and visibility in women's sports, reflecting a cultural shift towards gender parity in athletics.
Evan Spiegel discusses the integration of augmented reality at the Olympics as a transformative tool for enhancing fan engagement and experience.
Deep dives
Investment in Women's Sports
Women's sports are gaining significant attention and investment, largely driven by the success and visibility of female athletes like Serena Williams. The recognition of women's sports as equal in potential to men's is underscored by comparing viewership numbers; events like the U.S. Open draw larger audiences for women's finals. Alexis Ohanian, a prominent venture capitalist, highlights how investments, such as in Angel City, illustrate the growing demand for women's sports, with franchise values increasing dramatically in recent years. This shift not only represents a financial opportunity but also reflects a cultural acknowledgment of the excellence within women's sports.
Social Media's Role in Sports Visibility
Social media has transformed how fans engage with sports, particularly women's sports, amplifying their visibility and compelling narratives. Ohanian points to rising social media follower counts among women athletes as evidence of their appeal, suggesting that individual influencers are capturing public interest more than traditional media. The attention economy sees social media as a battleground where competition for audience engagement drives opportunities for women in sports. Notable recent figures in women's sports, such as Caitlin Clark and Angel Reiss, have further demonstrated the influence of social media on athletic visibility, leading to increased public support.
Innovations in Fan Experience at the Olympics
The integration of augmented reality (AR) at the Olympics signifies a new era of fan engagement and interaction. Snap CEO Evan Spiegel explains how AR tools will enhance the spectator experience, offering unique features within the official Olympics app to create a fun and interactive environment for attendees. By enabling fans to experience events through AR lenses, the Olympics aim to bridge the gap between real-world experiences and digital engagement. This innovative approach underscores a broader trend in sports, prioritizing experiential interactions to meet evolving audience expectations and preferences.
This year, the Olympics have reached gender parity, according to the International Olympic Committee. Venture capitalist Alexis Ohanian, 776 founder and Reddit co-founder and former executive chairman, discusses his long-held belief in the business opportunity of women’s sports, as well as Athlos, his new womens-only track meet with the sport’s largest prize purse. He says, social media is an important ingredient in the rise of female athlete popularity. For Snap CEO Evan Spiegel, social media is key for the Olympics, too; Snap’s augmented reality lens is available through the official Olympics app, for fans in Paris for the Games. Spiegel discusses prospects for the LA 2028 Olympics, and his vision for a future of lenses, instead of screens. Tune into the Olympics on NBC for all the Games!