Sports Industry OVERVIEW
To business people, sports provide a lucrative and continually growing marketplace worthy of immense investment.
To athletes, sports may lead to high levels of personal achievement, and to professionals, sports can bring fame and fortune.
To facilities developers and local governments, sports are a way to build revenue from tourists and local fans.
Sports are deeply ingrained in education, from elementary through university levels.
Perhaps we cannot state with confidence that sports enrich the lives of all of us, but they certainly entertain a huge swath of the world's population.
In addition to economic impact, the largest single effect that sports create is that of gripping entertainment: hundreds of millions of fans around the globe follow sports daily, whether via radio, television, printed publications, online or in person, as spectators or participants. Sports are big business.
Combined, the “Big 4” leagues in America, the National Football League (NFL), National Basketball Association (NBA), the National Hockey League (NHL) and Major League Baseball (MLB), bring in about $39 billion in revenue during a typical year, but that's just the tip of the iceberg.
On a very broad basis, including related services, a reasonable estimate of the total U.S.
sports and recreation market would be $552.8 billion yearly (and $1.5 trillion for the entire world).
Also, the sports industry is so complex,