Kieran Maguire: Liverpool have discovered the 'new oil' as 'lucrative' income stream revealed
Data mining is the “new oil” and is a “lucrative” revenue stream for global clubs like Liverpool.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about the Merseysiders’ power in the internet age.
Senior vice president of digital affairs Drew Crisp explained the significance of data collection at Liverpool to Sport Business last Wednesday (4 May).
The club have used first-party ownership of fan data to boost sponsorship revenue and become a “targeted marketing powerhouse.”
Liverpool earned £217million in commercial income in 2020-21 alone.
And Maguire insists that the Reds are on the right track with this innovative new revenue generating scheme.
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“Data is the new oil,” he told Football Insider‘s Adam Williams.
“Drilling for it and being able to get data on individual demographics and volume of numbers can be lucrative.
“Liverpool are a global football club with very passionate fans. If you log onto the app, that allows them to monitor what you’re doing.
“They can package and sell on that information to interested parties. That is the way forwards.
“The biggest challenge for clubs is to convert interest into cash.
“They are hoping data will be pandora’s box to create a viable and lucrative income stream.“
Maguire told this site last Sunday (8 May) that Liverpool are on course to break their shirt sales record next year.
As revealed by Football Insider last month (22 April), the Merseysiders are also in talks with a number of firms over a new front-of-shirt sponsor deal.