Sports Industry Changes Rapidly as Spectator Tastes and Technologies Evolve 6-23-2008
While it may not seem like it to the casual observer, the sports sector is constantly evolving in terms of personal tastes, popular games and technologies. For example, the number of people playing golf is dropping, while lacrosse and paintball have seen significant growth. Also, evolving technologies and fashions have an immense impact on sales of sporting goods within specific sectors. Sporting goods makers are constantly trying to create reasons for consumers to buy new equipment. In this thrilling thrill-seeking industry, it is important to stay on top of the consumer and business trends affecting how the business will change next. According to a recent report from Plunkett Research, Ltd., some of the most exciting of these trends include:
1) Revenue Sharing Boosts Major League Baseball. Total attendance for MLB games in 2007 was 79.5 million, up from 76.0 million in 2006 and 74.4 million in 2005. Success for particular teams is spread across the entire league thanks to a revenue-sharing system by which all 30 teams in baseball must abide. Teams with revenue above the league average must make payments (worth the difference between the team’s actual revenue and the league average) that are split among teams with revenue lower than the average figure.
2) Lacrosse May Be the Fastest-Growing Team Sport in America. Until recently, few sports fans were familiar with lacrosse, although it is a game that originated hundreds of years ago among native North American tribes. It is considered by experts to be North America’s oldest sport. n the professional level, Major League Lacrosse had 10 teams as of mid-2008, in areas including Baltimore, Boston, Long Island, New Jersey, Rochester and Philadelphia.
3) Bowling Looms Large/The Least Expensive Sports and Recreation Activities Draw the Most Participants. Here’s another set of facts you might find surprising: Research conducted by American Sports Data, Inc., titled “Superstudy of Sports Participation,” ranked bowling number one in America in terms of the total number of annual participants, followed by treadmill exercise, tent camping, stretching, fitness walking and freshwater fishing (not including fly fishing).
To find out more about these exciting trends and others, check out Plunkett’s Sports Industry Almanac 2009, or go to www.plunkettresearch.com and sign up for a subscription to Plunkett’s completely up-to-date online database!
About Plunkett Research, Ltd.
Plunkett Research, Ltd. is a leading publisher of complete business research and analysis resources designed to enable professionals in marketing, research and finance to access complete trends analysis, statistics, technology analysis and financial analysis of the world’s most exciting industries. For more information, visit www.plunkettresearch.com, or call 713.932.0000.