Staggering Growth in the Sports Marketing Industry The sports industry's core sources of revenue can be divided into three main categories: Broadcast and media rights, sponsorships (including licensing and merchandising), and ticketing and hospitality (such as entertainment and catering in sports venues). Today sports marketing, is the most lucrative and sought after industry with a total size of USD 38 billion. Corporate sponsorship is growing annually in sports at the rate of 12 per cent, faster than in any other field. Next year it is expected to complete 15 per cent growth. In India, which has seen an exponential growth in sports recently, the huge resources are simply waiting to be tapped! |
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A niche industry, sports marketing comprises a whole host of disciplines. Event marketing and management, media planning, selling sponsorships, celebrity management, merchandising and managing teams are just some of the activities comprising sports
management. Opportunities are seen in areas such as market research, providing administrative services for sports federations, getting sponsorships for events and new media (Internet, m-commerce) management, among others. In Asia Pacific, sports marketing business touched 15 per cent growth this year and would touch 22 per cent next year. It has been registering a world-wide growth of five to six per cent annually. New opportunities are coming up in sports marketing, not just in cricket but other sports as well. These need to be tapped. |
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