Sport industry is an
industry
Industry may refer to:
Economics
* Industry (economics), a generally categorized branch of economic activity
* Industry (manufacturing), a specific branch of economic activity, typically in factories with machinery
* The wider industrial sector ...
in which people, activities, business, and organizations are involved in producing, facilitating, promoting, or organizing any activity, experience, or business enterprise focused on
sports
Sport pertains to any form of competitive physical activity or game that aims to use, maintain, or improve physical ability and skills while providing enjoyment to participants and, in some cases, entertainment to spectators. Sports can, th ...
. It is the
market
Market is a term used to describe concepts such as:
*Market (economics), system in which parties engage in transactions according to supply and demand
*Market economy
*Marketplace, a physical marketplace or public market
Geography
*Märket, an ...
in which the businesses or products offered to its buyers are sports related and may be goods, services, people, places, or ideas.
Professional sports in the United States
The most major of industries related to sports are the professional leagues that most of the other industries in the sporting world revolve around. The major American sports leagues are the first five in the list following and include football, basketball, hockey, baseball and soccer. Most players in these leagues make money from the team they're on as well as sponsors but are among some of the top earners in the United States.
Examples
Sports apparel
Sports apparel includes a wide array of clothing articles from fan-based jerseys to actual equipment to play the different sports with. There are many retailers out there including online and in-person that offer a plethora of these products. Many of these businesses have professional athletes that endorse them, securing them fans and buyers alike.
Examples
Sports gambling
Sports gambling is something that just recently became legalized in the United States. It involves making wagers based on some outcome of a contest or some aspect within the contest. In prior instances of legality, there were multiple incidents of professional athletes/referees committing scandals to increase payouts. The people placing the bets always have worse odds than those hosting the bets and that is how this industry remains profitable.
Sports Betting although
PASPA (The Professional and Amateur Sports Protection Act of 1992 (Pub.L. 102–559) was overturned in May 2018, the individual states are still considering what methods (brick and mortar and online) of sports gambling to allow and where. For example, sports gambling, in certain US states and jurisdictions, may be allowed in established casinos or race tracks. Thus partnerships between bookmakers and gambling license holders will need to be in effect and active before taking any sports bets at venues.
Other considerations regarding legal sports betting remain clear: Offshore sportsbooks and bookmakers operating offshore cannot solicit or do business with American citizens. The 1961 Federal Wire Act - The Wire Act prohibits persons involved in the gambling business from transmitting several types of wagering-related communications over the wires. This basically means that online and telephone sports gambling is still not allowed in the United States. The memo issued by the DOJ in January 2019 can be downloade
here
Companies offering free sports gambling games known as freemium or F2P games remain unregulated. Fantasy Sports considered by experts as skill games are questionable in certain US jurisdictions. 32 states have either allowed or regulated fantasy sports during the past few years, before the PASPA overturning.
Examples
* MyBookie
* Betfun Entertainment (freemium - no cash branded sports gambling games)
* SportsBetting
* GTbets
* BetOnline
* Bovada
Sports stadium/travel
Sports are often played in giant arenas that people travel to from all over. People will cross the world to see their favorite team play and some signature arenas can get fans there even if the team isn't having the best season. The construction/ adaption of these stadiums is a huge business in its own as they're often multi-purpose places used for other things like music events as well. The transportation of the players themselves is also a crucial business as keeping them safe and getting them to where they need to be on time can be a hassle.
Examples
*Sports-Related Corporate Travel
*Team and sports event part. travel
*Adventure and sports fantasy travel
*Recreational transport
*Sport event travel
*
Huber, Hunt & Nichols (build arenas)
*Spectator Sports revenue
*Stadium Construction
*Sports sponsorship expenditure
Sports supplements/medicine
Athletes all over try to get an edge on the competition in any way possible. Over time companies have developed supplements that allows these athletes to train harder, stronger and longer. Combining these supplements with the right workout regime and diet can lead to better overall results for any athlete at any level of competition. While supplements are the former when it comes to sports training, sports medicine tends to be the latter. When an injury deals a great blow to an athlete they look to some of the world's best doctors who have a history of dealing with similar problems to help them overcome their damage.
Examples
*
Power Bar
*
Gatorade
Gatorade is an American brand of sports-themed beverage and food products, built around its signature line of sports drinks. Gatorade is currently manufactured by PepsiCo and is distributed in over 80 countries. The beverage was first develop ...
*
Powerade
Powerade is a sports drink created, manufactured and marketed by The Coca-Cola Company. Its primary competitor is Gatorade, owned by PepsiCo.
History
In 1988, Powerade became the official sports drink of the Olympics, alongside Aquarius, anot ...
*
Whey protein
Whey protein is a mixture of proteins isolated from whey, the liquid material created as a by-product of cheese production. The proteins consist of α-lactalbumin, β-lactoglobulin, serum albumin and immunoglobulins. Glycomacropeptide also makes ...
*
Creatine
Creatine ( or ) is an organic compound with the nominal formula (H2N)(HN)CN(CH3)CH2CO2H. It exists in various modifications (tautomers) in solution. Creatine is found in vertebrates where it facilitates recycling of adenosine triphosphate ( ...
*
GNC
*
Physical therapy
Physical therapy (PT), also known as physiotherapy, is one of the allied health professions. It is provided by physical therapists who promote, maintain, or restore health through physical examination, diagnosis, management, prognosis, patient ...
*
Nutritionist A nutritionist is a person who advises others on matters of food and nutrition and their impacts on health. Some people specialize in particular areas, such as sports nutrition, public health, or animal nutrition, among other disciplines. In many c ...
s
Sports memorabilia
Sports memorabilia takes many forms from signed clothing to trading cards. Fans take much pride in owning something their favorite athlete once used or signed and there are a plethora of hole in the wall hobby shops that have items like these for sale. Many of these hobby shops also host meet and greets for fans to meet their favorite players.
Examples
* Topps Cards
* Steiner Sports
Sports marketing
Sports marketing is being highly influenced by changes in technology stirred in with
social media
Social media are interactive media technologies that facilitate the creation and sharing of information, ideas, interests, and other forms of expression through virtual communities and networks. While challenges to the definition of ''social medi ...
, according to a report entitled The Future of Sports, published by TheFuture.org. As sports clubs, franchises and professional athletes leverage on technology tied to social media networks and platforms to boost their marketing efforts and engage with fans the impact is felt in sports marketing economics. Digital
mobile game
A mobile game, or smartphone game, is a video game that is typically played on a mobile phone. The term also refers to all games that are played on any portable device, including from mobile phone (feature phone or smartphone), tablet, PDA to ...
s,
digital video
Digital video is an electronic representation of moving visual images (video) in the form of encoded digital data. This is in contrast to analog video, which represents moving visual images in the form of analog signals. Digital video comprises ...
contents, fan-created contents using league footage, fantasy sports games, and other sports-themed digital media is on the rise. Sports marketing in its digital format is almost presence everywhere in major sports brands from club to retailer. Compared to 1990, sports marketing has not only changed from static to digital but in terms of economic impact has seen exponential growth. The availability to use stats in almost real-time has also impacted sports marketing in the sports gambling industry.
Bookmaker
A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds.
History
The first bookmaker, Ogden, stood at Newmarket in 1795.
Range of events
Bookma ...
s are now able to market using an occurrence from a few minutes or even seconds ago.
Examples
*
Whistle Sports
Team Whistle (formerly known as Whistle or Whistle Sports) is an American digital media company focused on sports-related and entertainment content.
History
Since its launch in 2014, Whistle Sports has raised more than $56 million in funding t ...
*
Bleacher Report
Bleacher Report (often abbreviated as B/R) is a website that focuses on sport and sports culture. Its headquarters are in San Francisco, with offices in New York City and London.
Bleacher Report was acquired by Turner Broadcasting System in Aug ...
*
The Players' Tribune
''The Players' Tribune'' is a new media platform that produces daily sports conversation and publishes first-person stories from professional athletes. The platform was founded by former professional Major League Baseball player Derek Jeter in ...
*
Vice Sports
Vice Media Group LLC is an American-Canadian digital media and broadcasting company. , the Vice Media Group included five main business areas: VICE.com (digital content); VICE STUDIOS (film and TV production) VICE TV (also known as VICELAND); ...
* Sports Kitchen Entertainment Group
* NBA Playmakers TV
See also
*
List of outdoor industry parent companies
The following list is of outdoor brands that are owned by another entity. The brands listed are those specific to the outdoor sporting goods industry. Parent companies may own other brands that are not listed because those other brands are not m ...
Ultimate Sports Marketing Guide
References
{{Industries
Industries (economics)