The professional sports industry is a multi-billion dollar a year powerhouse, ranging from seasonal tickets to sports attire, media rights, and everything else under the sun for your favorite team and sport. In fact, Forbes Magazine predicted that by 2019, the sports industry as a whole will reach 73.5 billion dollars. In addition, Forbes cited Pricewaterhouse Coopers stance on the business of professional sports, stating, “[T]he segment should continue to recognize higher than indexed growth of existing rights deals through the end of the period as rights owners continue to carve out or reserve in-demand digital assets and further monetize this inventory under new deals or through in-house ventures. Related initiatives involving a la carte and streaming media are allowing consumers to purchase specific content (i.e. media rights for a single game or season package for a specific team), watch games in a condensed format shortly after completion, and watch replays on league platforms before they are available through general media.”
The Big 4
Americans have had a long history of sports starting off in various forms, the Big 4 have been a vital part of daily life for Americans from the 1920’s Baseball craze to the early days of Rugby, now adapted as American Football, to even the 1800’s where Basketball and Hockey began, today’s love for the sports arena has not diminished, and many are expecting a major year for the Big 4 in this year’s upcoming seasons.
Whether you are an avid basketball fan, a die hard football aficionado, tough hockey follower, or old school baseball supporter, sports are only going to get bigger and brighter than they already are. Combined with the famous status of star athletes, ongoing media coverage, billion dollar industry, it’s no wonder Friday Night Lights never seem to dim.
The Impact of Big 4
While it’s no secret, millions of fans spend copious amounts of time following their favorite team, analyzing statistics, picking out their fantasy roster, and, of course, watching every second during a game, it’s also no secret that sports is big business. One of the biggest impacts that the sports world has to offer is the ongoing contribution to the American economy, with thousands of jobs provided each season, from ticket box office sellers to club house maintenance, field maintenance, and so much more, having a favorite sports team is more than a way to cheer for your favorite city, it’s a way to cheer on the economic success of a country.
In Business magazine reported that in 2008, the Super Bowl brought in 500 million dollars to Phoenix, AZ. Brian Smith, Dean of Grand Canyon University, states, “No matter what’s going on with the economy, the appetite for sports doesn’t change. It’s almost recession-proof, and this has been hugely meaningful for Arizona, where the economy has been really up and down. If you take away the sports industry in Arizona, you’re looking at major losses — revenue, employment, morale. Sports is integral to the overall health of the state’s economy and landscape.”
For Americans, the big 4 offers a way to build communities, offer jobs, provide a sense of pride, and enjoy a pastime that has become ingrained in our society. Whether or not you are a sports fanatic, casual fan, or don’t follow sports at all, no one can deny the impact, ongoing influence, and bright future of this amazing sports story.