(Web Desk) - Sport is a global phenomenon. Think about it for a moment. When it comes to team sports, for example, few things bring people together in the way supporting a team does.
The shared passion, the almost tribal devotion, a cross-generational love that can be local, regional, international, or even global. And then there are individual sports.
We love the commitment, we admire the talent, and we cheer on these devoted players and competitors who often show us the very limits of human physicality in their sporting pursuits. From soccer to cricket, athletics to tennis, golf to curling, basketball to lacrosse, the list of sports is almost endless.
Within this vast array of sporting options, there are common metrics: how popular the sport is, how accessible it is for audiences, how many people attend, how many viewers watch from around the globe, how big a business the sport or event may be - and so much more. From looking at Premier League Soccer results to being glued to the cricket World Cup Final, enjoying the Super Bowl as you hope one of your carefully selected NFL lines comes good, to enjoying the tennis grand slams from every corner of the globe, sport is something special, something for everyone and anyone.
One of the most noticeable things about sports over the years is the way in which the sporting landscape has evolved. For individual sports, for players, for owners of sporting organisations, for sports marketing companies, and for the billions of fans, sport is now bigger than ever.
So what changes have occurred in the sporting world over the past few decades, how have they impacted this global industry, and how are things likely to evolve in a way that will ensure global sports continue to grow bigger and bigger for everyone involved?
Let’s dive in and see if we can score some answers. Time to kick off the article properly.
Marketing, Money, Merchandising: The Business of Sport is Booming
Whether it is Manchester United or Barcelona, the Green Bay Packers or Miami Dolphins, the Indian Premier League Cricket teams’ franchises or the golfing majors played around the world, sport is booming. One of the main reasons any sport flourishes is investment. Taking Premier League soccer as a prime example: owners pumping billions into storied clubs have taken the league to another level. This has led to higher earnings, greater investment in club facilities for fans and, in many cases, more ways for fans to watch and interact with the clubs at many levels.
Another reason sports is growing and continuing to become more profitable is the online world. Far from reading the results in the morning papers and knowing very little about the inner workings of sporting organisations, the online world has revolutionised global sport.
We see real-time results, online streaming of global sporting events, and online sports websites dedicated to keeping sports fans’ fingers on the pulse, around the clock and around the world.
Whatever sport you may love, you can now buy merchandise or watch social media content that is bespoke and accessible. For sports marketing companies, the audience is now global.
With more money flowing into clubs, events, sports franchises and teams, the business side of sports is such that some sports clubs even float their stocks on the markets, with Manchester United being one such team.
Everywhere you look online, sports clubs with already devoted fans around the world are looking for new ways to engage with existing supporters and attract new ones, just like any other business. Inertia is not an option for any sports club or individual on the field of play or in the arena, and the same is true when it comes to the marketing and business that so often funds and creates sporting success.
Streaming Sports: Opening Global Markets Making Supporters Central To Success
At the risk of dating myself, when I was younger, watching a major sports event was a big deal. We would all gather for something like a soccer World Cup Final, watching it in our living room - a shared experience made all the more wonderful by the fact that it was not always easy to watch big games, or any games. How coverage has changed, how our ability to enjoy these shared sporting experiences has been transformed. Yes, we have always enjoyed sports matches together, and big events such as the Olympics, World Cup Soccer Finals, or Super Bowls have usually been available more widely, but these days, streaming has made almost every sporting contest available to everyone.
This is true from the dawn of cable television to the dedicated sports networks it helped create, and from the global television coverage to the now all-conquering streaming services that have made sports globally available to billions. Sports streaming in particular has brought supporters to the epicentre of events, allowing anyone with internet access to watch sporting events alongside millions more, sometimes billions. For sports lovers such as me, this has not only enabled me to watch more of the sports I already love, it has also introduced me to sports I may never have watched before.
Ultimately, this means that with new markets opening up, new leagues are being formed, new events inaugurated, and new investors are ensuring that clubs, franchises, leagues and sports organisations have a propitious long-term future. It doesn’t matter whether you love golf, soccer, cricket, the NFL, NBA, IPL, Aussie Rules, tennis, curling, lacrosse, badminton, athletics, equestrian, darts, snooker, pool, swimming, cycling, martial arts, or any of the many sports I have not listed here, one thing is certain: global sports are in great health, their goals are becoming even more ambitious, and with this, we can all expect great results.