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Can digital video and social media save baseball?

If you use Snapchat on any given Wednesday, you'll see MLB Wednesdays featured on its story page. The social app's first regularly scheduled sports program, which officially launched on May 13, collects photos and clips from users who post content during baseball games.

"There's no platform that aims at millennials almost exclusively," said Bob Bowman, Major League Baseball's president of business and media. "Snapchat and Instagram: They are millennial magnets."

Despite record revenues, some have sounded a death knell for baseball, whose games are often criticized for being long and plodding. What's more, Nielsen ratings show that half of baseball TV viewers are over 55, while declining interest in the World Series has been widely noted, with 2014 viewership down 64 percent from its peak between 1978 and 1982.