|Last Quarterly Update:||11/18/2013|
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Organizations in this industry include professional and semiprofessional sports teams and clubs. Major organizations include the New York Yankees (US), Arsenal (UK), the Calgary Flames (Canada), Manchester United (UK), and Real Madrid (Spain).
Globally, professional sports generates about $120 billion in revenue. Football (known as soccer in the US) is the dominant sport around the world; other popular sports include rugby, cricket, and baseball. Given the intense global interest in sports, the industry could grow at a compound annual rate of 3.7 percent through 2015 (from 2011), according to PricewaterhouseCoopers.
The US professional sports teams industry includes about 1,500 organizations with combined annual revenue of more than $20 billion. Key demand drivers include consumer income and audience enthusiasm.
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. The professional sports teams industry does not include individual sports such as golf, tennis, and boxing.
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 ...
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