The trade research firm’s analysis of the impact of

0

LONDON, 10 Dec. 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 stopped global operations. A significant impact of the virus has been observed on global sports market, as strict social distancing measures have been put in place to prevent the spread of the virus.

The global sports market reached a value of almost $388.3 billion in 2020, growing 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 decline is mainly due to the lockdown and social distancing standards imposed by various countries and the economic downturn in all 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 revenue for sport, including diffusion, commercial, and Ticketing, and hospitality income. Along with broadcasting and commercial activities losing income, many clubs, players and staff are losing income. For example, in a professional league, the organizing body pays all the income generated by the league to the participating clubs. This guarantees a minimum flow of revenue to the clubs. However, with the suspension of sports, it has become difficult for small and medium clubs to keep afloat.

During the lockdown and after the lockdown, there was an increase in media consumption. In the absence of live games, the sports industry tries to capitalize on the increase in media consumption through television broadcasting classic games, archived content and documentaries. Individual leagues follow the same. For example, the NFL has done every game played since 2009 available to stream on its Game Pass direct-to-consumer channel. This strategy resulted in a 500-fold increase in registrations.

The Business Research Company report titled Global Sports Market Opportunities and Strategies to 2030 Covers major Sports market companies, Sports market share by company, Sports market size and Sports market forecast.

The report also covers the global sports market and its segments. The global sports market is segmented by type into participatory sports and spectator sports and by revenue source into media rights, sponsorship, merchandising and tickets. the better opportunities in the sports market segmented by type will arise in the participatory sports segment, which earn $136.7 billion in global annual revenue Sales through 2025. The major opportunities in the sports market segmented by revenue source will arise in the sponsorship segment, which earn $71.1 billion in global annual sales by 2025.

Global Sports Market Opportunities and Strategies to 2030 is part of a series of new reports from The Business Research Company which provide market overviews, analyze and forecast Sports market size and growth for overall market, Sports market segments and geographies, Sports market trends, Sports market drivers , sports market constraints, revenue, profiles and market shares of the main sports market competitors in more than 1,000 industry reports, covering more than 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 up to 1.6% of the total market in 2019. Major actors in the market include Maruhan, Dallas Cowboys, New York Yankees, Manchester United Football Club and Futball Club Barcelona.

Here is a list of similar reports by The Business Research Company:

Online Gambling Market – By Game Type (Bets, Casino, Lottery, Poker, Online Bingo, Others), By Device (Desktop, Mobile, Others) and By Region, Opportunities, Trends and Strategies – Market Forecast world of online gambling until 2030

Global Spectator Sports Market Report 2020-30: Impact and Recovery of Covid 19

Global Participatory Sports Market Report 2020-30: Impact and Recovery from Covid 19

Gambling Market – By Type (Lotteries, Casino, Sportsbook, Others) Market Trends & Size, Opportunities & Strategies – Global Forecast to 2022

Want to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in business, market and consumer research. Located around the world, it has consultants specializing in a wide range of industries, including manufacturing, healthcare, financial services, chemicals and technology.

The most comprehensive database in the world
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and measures across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess gaps between supply and demand.


        
Share.

Comments are closed.