Research Papers

Alexopoulos, Konstantinos; Mochla, Vagia; Tsourvakas, George

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Virtual Advertising, first introduced in the mid-1990s in the USA (Sander & Altobelli, 2011; Porter, 2022; Leadsom, 2023a; Goldman,2023), has been significantly advanced by companies such as Supponor, Vizrt, HEGO, Broadcast Virtual, UniqFEED and AE Live, which are at the forefront of its development. This technology allows for the real-time replacement of physical perimeter boards with virtual ones, presenting targeted ads to local broadcast audiences (Supponor, 2020; Turner & Cusumano, 2000; Burgi, 1997). In-person spectators do not see these virtual advertisements, as they are overlaid only on the broadcasted version of the event (Cianfrone et al., 2006). The 2006 FIFA World Cup in Germany marked a pivotal moment in the evolution of virtual advertising, enabling advertisers to deliver region-specific advertisements tailored to diverse global audiences. As a result, viewers in different parts of the world, such as America and Germany, were presented with different advertisements displayed on the stadium boards (Goldman,2023). Similarly, the 2024 UEFA European Championship highlighted virtual advertising's success, with Coca-Cola tailoring region-specific ads to appeal seamlessly to local preferences in Europe and Asia (PTF Blog, 2024). From then until today, numerous prestigious sports organizations, leagues, and teams across various disciplines, including Football (e.g., UEFA, La Liga, Serie A), Hockey (NHL, IIHF), Rugby (World Rugby, NRL), Cricket (Cricket Australia, New Zealand Cricket), and others, have adopted virtual advertising. Virtual advertising has since expanded its possibilities, offering dynamic, region-specific content delivery, innovative solutions like virtual billboards, seat covers, and on-field graphics, and enabling advertisers to optimize revenue while enhancing viewer engagement and broadcast quality (Broadcast Virtual, Website).

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