Because of COVID-19, the world is at a crossroads today. The sports business, too, is concerned about the future of numerous athletic events throughout the world. There is no way of knowing when the crisis will end, but sports will never be the same. The sports industry was one of the most seriously damaged industries which affected the educational section of the field like Sports Management courses as well.
The entire halt of athletic activities has a wide-ranging impact on the global economy. The bright side of this is that technology is poised to become a huge disruptor. This is also presenting enormous potential in the sports realm that would otherwise have taken time for this industry to adjust to.
Even though the present crisis has had a significant influence on the sports community, it may yet try to get back on track.
E-Sports and sports sponsorships
E-Sports is growing at a lightning speed. Even major sports leagues have begun to transform their games into virtual games. The advent of platforms like YouTube and Facebook Gaming, among others, has ensured that the E-sports ecosystem is expanding at an exponential rate.
According to Deloitte's latest Digital Media Trends Survey, the global e-sports sector is predicted to produce $1.5 billion in yearly income from an estimated 600 million spectators, mostly through advertising and sponsorships. Streaming and broadcast sponsorships, including sites like YouTube Gaming, Facebook Gaming, and Mixer, will rise dramatically as the e-sports ecosystem evolves.
New branding and sponsorship possibilities will develop as well, particularly for businesses that naturally connect with conventional gaming behaviours, such as energy drinks and fitness centres. Best sports marketing colleges will ensure educating students on this trend.
Year after year, the number of fantasy sports firms grows. The use of data analytics has given the fantasy sports sector a much-needed boost. Furthermore, fantasy sports have allowed fans to interact with athletic events in novel ways. For example, leveraging data to observe user interaction patterns and recommend customised tournaments has increased engagement.
With each passing day, fantasy sports get more competitive. The popularity of fantasy games has surged after the introduction of applications such as Dream11 and My11circle. The Indian fantasy sports sector is expected to reach $2.5 billion in 2022, according to a Ficci-EY analysis. The sector is estimated to be worth $3.7 billion by 2024, increasing at a CAGR of 32%.
While the fantasy sports business was already thriving, the pandemic merely accelerated its growth by forcing numerous individuals to stay indoors and seek amusement on the internet. Several dozen prominent Indian fantasy sports operators took advantage of this chance to significantly expand their player bases.
Creating a sports fantasy platform with a fantastic user experience is no longer enough. The engagement of the audience is crucial. The public may now interact with their favourite athletic events thanks to OTT platforms. Many athletic leagues throughout the world have granted such sites exclusive rights and are exclusively streaming.
With social separation entirely enforced, the internet has become a common platform for communicating with consumers. This emphasises the significance of providing interesting content on online sports platforms. An online sports platform's content bucket should ideally comprise prediction pieces, preview articles, viral material, and match reports.
As a result, students appearing for post-graduation in sports management must prepare for technological literacy, internet marketing, and cultural understanding to tackle the challenges posed by this epidemic.
Because of the high frequency of competitive events, players had to recuperate rapidly. Big Data technology has evolved over the last two decades to give important information for monitoring and controlling internal and external issues. Wearable gadgets and video analytics, for example, are being utilised to collect data from players and events to assist teams in strategizing.
Sensors in sports are also taking the globe by storm. Sensor data will not only give helpful information for athletes, but will also be beneficial in areas like health, fan interaction, analytics, venues, media, textiles, and wearables. It is currently a multibillion-dollar market that will only grow in size. Sensors are the future, and athletes will need them if they want to get that one per cent advantage.
Data is translated into live real-time analysis with the assistance of sensors! By combining these data points with artificial intelligence, tailor-made new tactics and applications in a variety of industries may be generated. The possibilities are endless due to emerging technology.
To be effective with your post-graduation in sports management, you must always be aware of what is going on around you. Not all of the new options are becoming mainstream. Keeping up with the trends and understanding it will give you an edge over your competition when you step out in the field.
If you are graduating from some of the best sports marketing colleges like SSSS, then you will be at an advantage in understanding and keeping up with the latest in the market. You will also get the opportunity to attend masterclasses from international sports professionals. The masterclasses provide students with a greater awareness of global market circumstances and enable them to lead the industry with professional knowledge.
So, choose the right college when choosing from the best Sports Management courses and make sure you keep up with the latest trends in the market to lead with confidence!