How Covid is affecting the world of sports
29 February 2020
s the title of the article suggests, we will be discussing how the world of sports has also been overwhelmed by the Coronavirus emergency. Many changes have affected sports all over the world: let’s have a closer look with the help of an article published on weforum.org.
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As the title of the article suggests, we will be discussing how the world of sports has also been overwhelmed by the Coronavirus emergency. Many changes have affected sports all over the world: let’s have a closer look with the help of an article published on weforum.org.
It is hard to imagine a sporting event without an audience in the stands. Unfortunately, this is exactly what is happening all over the world: competitions have been suspended, events cancelled. Athletes and professionals in the field - as well as the media - are all affected by the sad events related to Coronavirus.
The business revolving around sports has also been severely damaged, considering that the majority of profits associated with it have to do with broadcasting, meaning the sale of rights, advertising and the sale of event tickets. Sports revenues reach extraordinary numbers: in 2018, the sports industry is estimated to have reached a value of $471 billion. And again, the NBA's television deal alone is worth $24 billion over 9 years; that of the English Premier League is $12 billion over 3 years. With the sports standstill, earnings and all financial movements around the world of sports have practically stopped.
And so, how to remedy it? The major international channels have arranged to make the most beloved and requested content available to viewers and fans. Legendary channels such as Fox Sports and ESPN are broadcasting matches that are considered "great classics", documentaries, file content and videos, and niche sports matches. The NFL, on the other hand, is making every game since 2009 to the last championship played available to fans in streaming. In general, pay sports streaming is trying to meet users halfway, offering content for free or with flexible payments.
In essence, this health emergency has once again shown how sports constitute a large part of the world economy.
The world of sports is one that brings people together and is based on social relationships and, right now, we miss this form of entertainment. New strategies and tools to keep it alive must be found, despite the serious global economic crisis that we are going to be experiencing - that we are actually already experiencing.
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