North American sports is a $64-billion market with a track record of stable, consistent growth. While attractive, this market has been relatively closed off to direct investment. However, as is often the case, technology is proving to be the spoiler that will pry loose existing revenue streams while creating new ones for more investors to exploit. In particular, we highlight over-the-top video streaming, virtual reality, and Big Data as forces affecting the industry. The report takes a closer look into the market as well as companies in the ecosystem, M&A and private placement activity.