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Sports Industry; current status and opportunities
Even the answer to the question of what is the Sports Industry can be the subject of a separate article.
Because when we say Sports, today’s professional field, individual or team sports activities, the carrying out of these activities, the promotion of these activities, the delivery of these activities to the masses, the participation of the masses in these sports as spectators, the earnings of the individual athletes or clubs from these advertisements, the purchases of the fans. We are talking about a very wide ecosystem from tickets to jerseys, shoes, etc., transfer fees received by professional athletes, advertising and sponsorship agreements, broadcasting rights, products sold in applications that have become widespread due to e-sports, and #NFT products.
For such a large area, it is almost impossible to even detect the real figures in this economy. To give a few examples, the value of the American national football league alone was estimated at approximately $78.8 billion. Again, for example, for 2021, the value of the Dallas Cowboys team was calculated to be 6.5 billion dollars with an increase of 14%. The New England Patriots team has again reached a value of $5 billion, up 14%. These teams are followed by the New York Giants with $4.85 billion, the Los Angeles Rams with $4.8 billion, and the Washington Football Team with $4.2 billion, respectively. (https://www.forbes.com/sites/forbespr/2018/09/20/forbes-releases-21st-annual-nfl-team-valuations/?sh=6a313e297af4 , https://www.forbes.com/nfl-valuations/list/ )
Sports
Again, according to Forbes data, the top 5 most valuable American basketball teams and their values were calculated as follows: New York Knicks 5.8 billion dollars, Golden State Warriors 5.6 billion dollars, Los Angeles Lakers 5.5 billion dollars, Chicago Bulls 3.65 billion dollars, Boston Celtics $3.55 billion. The Memphis Grizzlies, 30th on the list, are valued at $1.5 billion.
The direct and indirect contribution of these activities to the economy is much greater and contributes to the creation of direct or indirect employment for many more people. For example, the impact of Snowmobiling on the economy is calculated as $26 billion for the United States, $9.3 billion for Canada, and $5 billion for Europe and Russia, and it has been revealed that the industry creates full-time employment for more than 100,000 people in North America alone. ( https://www.snowmobile.org/docs/isma-snowmobiling-fact-book.pdf )
While examining all the figures, it does not give us the right perspective to define only the value of the teams or the annual earnings of the athletes. Athletes and teams cannot stand on their own without “audiences”, no matter how professional and strong economies they have. In a sense, if there is a Sports Industry today, it is the people who watch these games, follow these games, spend time with these games, have fun and even bet on these games. Today’s sports industry can turn into a ghost of empty stadiums and arenas without an audience.
A small example of what a sports industry can become without an audience took place in the world during the “Covid19” epidemic. However, the world witnessed a new trend that accelerated during the same epidemic period: disconnecting the audience from physical ties as much as possible and bringing sports games together with virtual reality!
The spectators, the most important component of the sports industry, do not only contribute to the economy of their teams or individual athletes with the tickets they buy by filling the stadiums or arenas, purchasing club official products, or by posting support messages on social media.
One of the most important building blocks of the sports economy in the world today is undoubtedly broadcasting rights. There is no doubt that matches and sports activities broadcast by national channels or global platforms can reach millions of people at the same time. However, this has a cost for viewers, an income for clubs and individual athletes, and additional income for broadcasters.
In 2019, while the #American basketball league earned $2.6 billion in local broadcasting rights, it also generated $450 million in revenue from overseas broadcasts. In the same year, #Tencet paid $1.5 billion for five years to continue its exclusive digital partnership in #China alone. On the other hand, we know that 500 million fans followed the #NBA programs through Tencet in the 2018–2019 period. Of course, it is not difficult to guess how big the advertising revenues Tencet has achieved from here! We know that in 2021, Tencet’s revenues reached $22.27 billion.
Another important source of income for clubs and contracted companies are sports products, and we see that the biggest shareholder in this is officially licensed jerseys and sports shoes. The same source of income applies to individual athletes. The market size of the #Global Sportswear industry in 2019 was calculated as 181 billion dollars. According to the same research, it is estimated that the market will reach approximately 208 billion dollars in 2025.
In 2021, sports footwear giant #Nike reached a total revenue of 17.2 billion dollars in North America alone. We see that Nike reached a revenue of approximately 44.54 billion dollars in 2021 worldwide.
Again, while the value of the global sporting goods market is approximately 126.23 billion USD, it is estimated that the market will reach approximately 148.2 billion USD by 2023.
Looking at the overall market value of the current Sports industry, according to a recent study by Kearney on sports teams, leagues and federations, the value of today’s global sports industry has been estimated at approximately $480–620 billion. This figure includes infrastructure construction, sporting goods, licensed products, and live sporting events.
Words and figures to be said for this industry, which has hundreds of billions of dollars, are not limited to these. However, it is a fact that when we say Sports Industry today, we can talk about hundreds of thousands of people working in this industry, and hundreds of billions of dollars revolving in this industry.
E-sport, on the other hand, has started to take its place in the ecosystem as a relatively new market. A study by #Newzoo in 2021 reveals that esports revenues have exceeded $1 billion.
It should also be noted that these figures are much higher in some years due to periodic and global organizations. Especially #WorldCup organizations, continental cup organizations such as Asia, Europe, and Africa make an additional contribution to the local and global sports economy.
New Perspectives, New Opportunities!
HEPTAGON METAVERSE
Sport is a common language in which all people can understand each other.
The more active involvement of the fans in all this sports industry, the greater the benefit from this economy, and the more solid the sports industry will mean. In addition, sharing the revenues of the current sports industry with new technologies and perspectives with a more democratic distribution will be a new target.
Moving the sports industry to a virtual area and establishing a decentralized structure in this area can be considered a new approach to the sports industry.
#HEPTAGON; WORLD’S LARGEST ARENA!
HEPTAGON
Heptagon aims to carry sports to the metaverse area (#HEPTAGON) and to bring sports events together with the audience with the possibilities of XR technology in #HEPTAGON. In this area, which is integrated with the blockchain, fans will be able to swap fan tokens, create #NFTs, and sell their products on the #HEPTAGON #NFT market.
In this #Metaverse, People can play games, shop, and follow their work from home or any other environment, play various games with their friends, and more…
While building the metaverse universe of sports, we tokenize this universe.
We are building #HEPTAGON to move this large sector to the Metaverse area, and while doing this, we are establishing the Heptagon in such a way that all shopping in this area is made with crypto money by the philosophy of Blockchain.
So, users of the #HEPTAGON metaverse will have the opportunity to earn up to 70% of the #HEPTAGON net income by staking the #HEPTA TOKEN, which is the main transaction unit of this area, on the Heptagon Stake platform.
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Watch, Fun, Trade&STAKE!
