LONDON, December 10, 2020 (GLOBE NEWSWIRE) – Since the start of the pandemic, countries around the world have suffered from economic setbacks and supply chain disruptions. Strict quarantine measures taken by governments had interrupted global operations. A significant impact of the virus was observed on the world sports market, while strict social distancing measures have been implemented to prevent the spread of the virus.
The global sports market has reached a value of almost $ 388.3 billion in 2020, having grown at a compound annual growth rate (CAGR) of 3.4% since 2015. The market grew from $ 458.8 billion in 2019 to $ 388.3 billion in 2020 at a rate of -15.4%. The drop is mainly due to containment and social distancing standards imposed by various countries and the economic downturn in countries due to the COVID-19 outbreak and measures to contain it.
The COVID-19 pandemic is having a negative impact all major sources of income for sport, including diffusion, commercial, and Ticketing, and hospitality income. Besides broadcasting and commercial activity losing income, many clubs, players and staff are losing income. For example, in a professional league, the organizing body pays all of the income generated by the league to participating clubs. This guarantees a minimum flow of income to the clubs. However, with the suspension of sports, it has become difficult for small and medium-sized clubs to stay afloat.
During and after containment, there was an increase in media consumption. In the absence of live games, the sports industry is trying to capitalize on the soaring media consumption through television broadcasting classic games, archived content and documentaries. Individual leagues follow the same. For example, the NFL has done all games played since 2009 available for streaming on its Game Pass channel, which is aimed directly at consumers. This strategy resulted in a 500-fold increase in registrations.
The commercial research company report titled Opportunities and strategies of the global sports market until 2030 Covers major sports market companies, sports market share by company, sports market size and sports market forecast.
The report also covers global sports market and its segments. The global sports market is segmented by type into participatory sports and spectator sports and by revenue source in media rights, sponsorship, merchandising and tickets. The best opportunities in the sports market segmented by type will appear in the participatory sports segment, which earn $ 136.7 billion in annual global revenue Sales through 2025. The best opportunities in the sports market segmented by revenue source will arise in the sponsorship segment, which earn $ 71.1 billion in annual global sales by 2025.
Opportunities and strategies of the global sports market until 2030 is part of a series of new reports from The commercial research company which provide market overviews, analyze and forecast the size and growth of the sports market for the overall market, sports market segments and geographies, sports market trends, sports market drivers, Sports market constraints, revenues, profiles and market shares of major competitors in the sports market on over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market.
The the global sports market is highly fragmented, with a large number of players in the market. The top ten market competitors accounted for 1.6% of the total market in 2019. Major players in the market are Maruhan, the Dallas Cowboys, the New York Yankees, Manchester United Football Club and Futball Club Barcelona.
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