All You Need to Know About Covid’s Impact on the Sports & Recreation Industry
Plunkett Research now provides complete coverage of the Coronavirus’s effects on specific industries, via both our industry almanacs and our Plunkett Research Online system.
The eight-week lockdown of public spaces with gatherings of 50 or more people during the Coronavirus pandemic of 2020 crippled sports teams around the world. In the U.S., Forbes magazine estimated the professional sports leagues lost a collective $5 billion in lost ticket sales, concessions, sponsorships and TV rights fees. Individually, Major League Baseball (MLB) lost an estimated $2 billion, the National Basketball Association (NBA) $1.2 billion, and the National Collegiate Athletic Association (NCAA) $1 billion with the cancellation of the March Madness basketball tournament. NASCAR, the National Hockey League (NHL) and Major League Soccer (MLS) lost a combined $900 million.
On a broader scale, virus effects include:
- Professional sports leagues and college teams forced to hold games with fewer to no fans in stadiums, leading to lost revenues from ticket sales and a vastly different game experience.
- Significant health implications for teams of all types as they are forced to deal with risks to players from teammates who might carry the Coronavirus.
- Amateur and leisure sports forced to adapt to health risks. U.S. baseball’s Little League, for example, encouraged local teams to follow their city/state laws and health requirements while The 2020 Little League World Series were cancelled.
- Summer Tokyo Olympic Games postponed from 2020 to 2021 at the earliest.
- Recreation equipment, such as bicycle and exercise equipment, see immense sales boom as people spend more time at home.
- Huge boom in RV and camping equipment sales, as consumers turned to self-contained vacations rather than hotels and airlines.
Plunkett Research, Ltd. is the leading provider of industry sector analysis and research, industry trends and industry statistics. Both our Plunkett Research Online and our 2021 Industry Almanacs feature coverage of the Coronavirus’s effects on specific industries. Our research reports and online subscription service are used by the world’s top corporations, consultants, universities, libraries and government agencies.
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For everything you need to know about the global Sports & Recreation sector, see:
Plunkett’s Sports & Recreation Industry Almanac 2021
Available to Plunkett Research Online subscribers
See more information about the online edition here.
Also available in Almanac Editions.
Publication Date: July 2020 | Price: $379.99
Printed ISBN: 978-1-62831-576-9
eBook ISBN: 978-1-62831-882-1
See the complete listings of book contents and details here.