The sports industry is worth $600 worldwide and the future of the industry is only expected to be impressive. Have a look at what the sports business forecast has to give.
There is never enough talk within the industry when eSports is thought to become the most popular sport of the 21st century. Who needs to go out when you can stay home and still able to connect with your friends through sports games at the comfort of your own home. It has taken video gaming to an entirely new level. No matter in which part of the world your friend is located in, you are still able to engage through a hobby.
If the team is well known and is a competitive team, it usually also reflect on the fans behavior on the competitiveness. Fans who invest their money into games will not pay to watch a losing team but will invest in teams that will have a shot at a championship. Fans also compete with each other based on who have more merchandise by wearing them to games which means that more revenue will be generated via merchandise. Die hard fans can also watch back games on demand which most of the time requires them to be subscribed with a monthly fee.
According to JWU Online, sports stadiums are better than they have ever been. Smart Stadiums now have Wi-Fi and 4G network access to guests. This helps to enhance the experience for fans through providing more services above the wireless and 4G connection by having a virtual escort to help locate seats and replay services during a live game. What’s better? You will also be able to order concessions for delivery to your seats or find the nearest restroom!
The rise of female fans
Thinking about sports, looking back in the past, it was male orientated. Successful female athletes who have received endorsements from brands to promote products has coincided with women’s interest in sports. This gives investors an opportunity to invest more in women within the sports business.
The data has given the audience much more details than ever before. It used to be from how many total points a player scores to measure of the player efficiency, productivity per touch, and defensive effectiveness. It was hard to track each player however now there are numerous cameras to capture from each angle to help do that rather than having to be extremely focused and try extra hard to not miss anything. This data can also identify how productive each player are and helps management build a team of effective and compatible players.
There you have it, a forecast from the sports business industry. To keep up to date with more articles like this, be sure to subscribe to Optimy newsletter to get the updates straight to your inbox and never miss an update from us!