Professional Sports Teams & Organizations Industry Profile

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Excerpt from Professional Sports Teams & Organizations Industry Profile

Organizations in this industry include professional and semiprofessional sports teams and clubs. Major organizations include the Dallas Cowboys, Detroit Red Wings, Los Angeles Lakers, New England Patriots, and New York Yankees (all based in the US); as well as FC Barcelona and Real Madrid (Spain); FC Bayern Munich (Germany); and Manchester United (UK).

Globally, sports generate about $130 billion in annual revenue, according to Statista. However, revenue in the sports industry fell almost half of pre-COVID19 estimates to about $74 billion. Football (known as soccer in the US) is the dominant sport around the world; other popular sports include rugby, cricket, and baseball.

The US professional sports industry includes about 1,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $35 billion.

Professional sports teams generally operate as part of a league or professional sports association that sets rules, regulates franchise ownership, and negotiates league-wide broadcasting and marketing relationships.

COMPETITIVE LANDSCAPE

Demand is driven by consumer income and corporate entertainment spending. The profitability of individual teams depends on achieving high fan attendance and a large TV audience, both of which are enhanced by effective marketing and competitive play. Teams in large metropolitan areas have advantages in the population base and TV audience they can draw on, though they may face competition from other teams. Teams in smaller markets, along with less popular sports and minor league ...

 
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