Will Football Ever Fully Recover?
The true impact of the world health crisis may not be fully understood for years to come. As we sit in the midst of the chaos, it is difficult to get a proper understanding of what is really happening around the world. But needless to say, the impact has been devastating to virtually every industry in the world. The world of football is, of course, no exception.
In fact, many consider that the football industry has been one of the hardest hit. Due to social distancing measures, virtually every stadium in the world has been temporarily closed. However, there are now signs that some football leagues are gearing up to get back on track, and even apostas esportivas no Brasil is once again showing signs of life.
The questions many are now asking are how long will it be until things are back on track, and what has the real impact been?
The Downward Spiral
Prior to the world health crisis, the global sports industry was valued at around $471 billion. This was a stunning increase of 45% since 2011. More so, the trajectory showed that this increase in value was only increasing, suggesting that by 2020 the value could easily enter into the $500 billion territory.
Now, that goal seems very unlikely. It will likely be a case of once again working up to the value seen in 2011, which could take many years. There are no estimates of the losses felt at this point, but given that the Summer Olympics was postponed, the downturn is likely staggering.
Understanding Sports Business
When it comes to monetizing sporting events, there are 3 major streams of income. Broadcasting rights, advertising, and ticket sales. It need not be said that the vast majority of income is in the broadcasting, with the ticket sales almost being negligible.
But either way, the trick of all 3 streams of income is that they rely 100% on eyes seeing the events. If there are no matches, there are no broadcasts, and so virtually all income comes to a screeching halt.
It could, very literally, mean the collapse of the sporting world, including football, if things don’t get back on track soon.
What Is Being Done?
Of course, the only possible thing to do while the world health crisis remains a barrier is to try and keep fans engaged in any way possible. The NFL has been rapidly making every match since 2009 available to stream online. ESPN and Fox have likewise been making classic games available, as well as broadcasting documentaries, eSports, and various other competitions. The NBA, meanwhile, have been putting major focus on the NBA 2K video game, encouraging players to broadcast their matches to others.
It is, no doubt, a major challenge, but word is that broadcasters are being understanding, and working with leagues to try and find solutions to the problems.
In the long run, however, most leagues are suggesting that things should remain unchanged. But when exactly it is that things will return to normal is a matter of speculation. But games are being scheduled for the end of the year.
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