The Remarkable Growth of the Sports Industry

Sports is one source of entertainment that can unite people worldwide, with a significant role in society that is hard to put into words. 

Strangers can become friends solely over supporting the same teams. Not only is it a social entertainment source, but it’s also a multi-billion dollar industry in the US. 

Not even taking into account the rest of the world, the sports industry in the US alone contributes to a major source of jobs and overall GDP. 

Though sports has always been a large part of society and a massive part of entertainment, the growth that it has seen in the last few decades is astounding. 

This article will address how the sports industry has grown in the last few decades and generally talk about the future of the sports market. With that said, let’s get into it. 

The Tremendous Growth of The Sports Industry

The rise in sports education

One of the best things about the sports industry is that coaches and trainers are registering for higher education degrees, courses, and certifications to ensure that the athletes get the best guidance they need. 

Now more than ever, the sports industry is seeing a rise in sheer raw talent because their coaches are better equipped with knowledge than they’ve ever been in the past. 

Not only do they have undergraduate degrees, but with remote learning, the chance to attain a master’s degree has become easier than ever. 

A Master’s Degree in Sport Administration is one of the most sought-after degrees in the sporting industry and is the usual go-to qualification for most coaches and known trainers. 

The more educated and well-equipped coaches are, the better the athletes will perform and the higher the revenue on any sports Sunday weekend. 

Other than that, it’s good to see that the industry values people who take care of the athletes. Experienced coaches and trainers can make a fortune in the sports industry because of their importance to athletes. 

Technological infrastructure and sports

Think back to the ’70s and ’80s; watching sports at that time was far different than it is today. Not only were there fewer TVs at the time, but the prevalence of streaming and PPV was nearly unheard of. 

Imagine watching the biggest boxing fights or the super bowl at someone’s house rather than the comfort of your bed.

The rise of cable TV and a diverse range of streaming platforms has led to more people worldwide consuming the content, and the ratings generally going higher than in the past. 

Moreover, with sports entertainment reaching the far corners of the world, it also becomes a globalizing social agent that helps people develop relationships with people they have never met, as we mentioned earlier. 

The technological boom helped several industries. However, few might have benefitted as profoundly and directly as sports.

Apparel and sports

Major clothing and apparel companies have made the sporting industry considerably more money than they would’ve made on their own. 

Companies like Nike and Adidas have endorsed entire teams and signed multi-million dollar contracts with star players. 

Therefore we see a mutually beneficial relationship in the form of merchandising. Teams get their promotion and clothing companies to generate revenue through sales. 

Take into account what a monumental win it was for the Chicago Bulls and Nike when the Air Jordan’s first came out. 

Publicity for the Bulls while Jordan and Nike made a fortune from the sales. The same applies to other large companies and star players. 

The sports industry and clothing apparel will also have a very close working relationship that benefits them equally. 

Celebrity culture 

Everyone wants to know what’s going on in the lives of their favorite stars. And ever since pop media and news agencies became fascinated with celebrity culture, sports stars and the industry, in general, have benefitted immensely. 

They say no publicity is bad publicity, and we couldn’t agree more. Regardless of what the sportsperson is in the limelight for, the fact that they are popular benefits the team and the industry.

Everyone wants to go and see the star that has all the rumors surrounding them. People will buy tickets or stream games only to see the latest talk of the town. 

Take the O.J Simpson case, for example. Though he was on trial for murder, more people were concerned about his personal life and delved back into his sports career. 

Main events

One-time-only events have taken the sports industry by storm. Especially with combat sports like boxing and MMA, the main event fights in Las Vegas bring in a record amount of money nearly every time. 

You might see stars coming out of retirement, celebrities learning to fight, and once-in-a-lifetime opportunities to see some of the best blends of entertainment and combat all rolled into one. 

Moreover, what gets the most money is the sheer hype of these events. They are mass-marketed as one-time-only fights; therefore, they aren’t streamed on cable and can only be seen Live or on PPV. 

The payouts from these fights can hover around the $50 million mark; imagine the total revenue if the fighters were paid this much. 

People flock from around the world to see the outcome of these bouts and be a part of sports-entertainment history. 

These events have contributed millions, if not, billions to the industry and left fans wanting more each time. Whether it’s two worlds’ strongest men going at it or a social media star taking on the greatest in the world, these are usually the most happening events of the year. 

Conclusion

See how the sports industry grew every year? In this piece, we’ve gone over various factors ranging from minor changes like the promotion of experienced coaches to the publicity stunts of celebrities and their implications for the sports industry. 

With that said, we hope that you’ve learned something new from this article and taken something positive away from the read. 

The sports industry is only going to grow. It would be wise for you to enter the field if you had the chance, whether that’s through investment or gaining access through potential career opportunities. Post pandemic sports is where it’s at. It’s time for you to get in on it.