Sports Industry Reboot Post COVID-19: Five Trends Sports Management Students Can Expect
The sports industry is one of the most severely affected sectors that has come to a complete halt with no sports operations.
Sports industry, being fast-paced, exciting and full of opportunities attract many young talents. Whether an athlete or a non - athlete, the passion for sports is alive in many young hearts. A career in the sports industry can be quite enthralling as well as fulfilling for sports enthusiasts, not just by being on the field, but also off the field.
The COVID-19 pandemic has affected businesses, economies, academia, sports sectors like never before. The sports industry is one of the most severely affected sectors that has come to a complete halt with no sports operations. The complete shutdown of sporting events had created numerous effects on the global economy. The positive outlook of this being, technology becoming a major disruptor. This is also creating tremendous opportunities in the sports domain that otherwise would have taken time to be adapted by this sector.
Digital innovations, technological advancements have orchestrated creative ways of video production. To cope with the Covid-19 crisis remote production is the need of the hour since 200-300 people cannot gather to work on the production. Similarly, with the economy reopening there are many other trends that upcoming sports management students can expect, which can open up a plethora of career opportunities for them.
Advent of E-Sports
E-Sports is rising at a phenomenal pace. Even the large sports organizations have started to convert their games into virtual games. The rise of Youtube and Facebook Gaming, among others, has made sure that E-sports ecosystem grows exponentially. According to a recent report released by Deloitte, the global E-sports industry is estimated to generate a revenue of $1.5 Billion. Along with it, the report further states that this revenue will be generated from 600 million fans worldwide.
The sports industry is now getting infiltrated by data intelligence and big data analytics. The last two decades have witnessed research and endeavours to develop big data technology that could meet the demands of high-performance sports. This would help in providing analytics and insights to control and monitor the internal as well as external factors. To collect data from players and athletes, wearable devices are being used, especially in situations where they cannot be physically present.
Rise Of Fantasy Sports
Fantasy sports companies are rising year by year. The adoption of data analytics has given a needed boost to the fantasy sports industry. Moreover, fantasy sports have opened the door for the viewers to engage with sporting events in a new way. For instance, observing user interaction patterns using data and suggesting personalized tournaments has boosted engagement. Fantasy sports is becoming more competitive with each passing day.
Demand for Online Content
Online content is causing a stir in the sports industry. OTT platforms have enabled the audience to engage with their favourite sporting events. There are many sporting leagues around the world that have given exclusive rights to such platforms and are streaming exclusively. With social distancing being completely enforced, online content has become a mainstream way of engaging with audiences.
Women in Sports
2019 witnessed a successful women’s soccer world cup event. It has inspired various sporting organizations to start more women-oriented sporting events. This continued growth in women sports has opened new opportunities for the development of new professional franchises, and leagues. This will ultimately result in corporate sponsorship and would increase ticket sales.
The post-COVID world is going to be different. Technology is going to play a dominating role in the sports industry. Therefore, considering the trends, sports management students should be ready to embrace technological advancements. They would need to enhance their technical skills, and know more about online marketing, technological advances, content marketing in sports to shape a successful career ahead in the sports industry.
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house
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