The business around sports has the opportunity to evolve and demonstrate new forms of closeness with fans, but it must also face the sinking of the regional economy. Almost two months after sports shows stopped, the industry started to shrink and since it has recommenced, it is now time for it to reflect on the immediate future it will have for the next two years and whilst Coronavirus is still affecting lives.
The pandemic of coronavirus and social isolation measures to prevent its spread has put on the ropes to massive shows in baseball, football, soccer, and any other sport. But how can this occur? Already sports matches have gone ahead but without the crowd attached. A small number of people in terms of staff and players, as well as the media, and stadiums with cardboard human representations in the stands, are part of the images in the new normal of the show in the highest category of German football. However, the crisis around the sports field has also brought with it opportunities to promote new marketing channels for products that were just beginning to grow, such as electronic commerce, and web transmission channels with new ways of interacting with fans. You can look further into the way fans are reacting and responding over at chatsports.com. New forms of communication are now possible to sink new money into new ways to connect because there is less money being spent. The other side of the crisis is that even if sporting events are normalized, advertisers won’t be spending as much, so their spending is reduced. It is also believed that the broadcasters will seek to renegotiate the contracts for the coverage of sporting events. A market contraction will be observed and a new soccer in the future where the same concepts as the previous one will be included, less monetized and with lower operating expenses.
It’s creating new jobs!
The sports market has constantly been able to report on social causes in the midst of the health crisis. The Italian sports club AS Roma, for example, ran a campaign aimed at its subscribers over 75 years of age, to generate boxes with pantries and equipment items that were later delivered to their homes. This was giving other people new jobs in the sporting industry which is helping to keep it going. The clubs seek to negotiate salary reductions and deferred payments with the players to keep the sports structure afloat, which has seen its income reduced due to the impossibility of the public going to the stadiums while operating expenses are constant. This means that the industry is still able to operate at a good level without many job losses. It’s a new era for sport and the likelihood is that we will be watching it digitally for some weeks to come. It may give those who aren’t interested in sport, a chance to delve into the world, and to learn something new as well as gain knowledge into the industry.