Thanks to technology, sports have become more accurate and enjoyable than ever for athletes and spectators over the years. Let’s dig deeper to understand the impact of modern-world technology on shaping the sports industry.
In the early 1900s, professional sports were rare. In addition, not everyone had the opportunity to play sports professionally – despite their talents.
However, fast-forwarding to more than 100 years, the sports market is a €450-billion industry now. From sponsors to broadcasters and advertising, there are dozens of ways sports teams earn.
Apart from that, athletes have their own contracts. For example, football sensation Lionel Messi, one of the richest sportsmen, has already made around $1.2 billion so far in his career. Each year, the star Argentine footballer makes $33 million in endorsement deals with top brands like Adidas, Pepsi, Gatorade, etc.
But, the fate of sports didn’t change overnight. Instead, it was a slow and steady process that took a long time to become one of the richest industries. Below are four ways the sports industry has changed over time:
Outfit and Equipment
Sports apparel and equipment are more comfortable, flexible, and high-functioning than ever. From clothes to gloves, helmets, and safety accessories, almost all kinds of sports equipment have become more useful and safer for athletes over the years.
Rather than selling t-shirts, shoes, or sweatshirts, many renowned sports brands have been rolling out equipment that enables athletes and wearers to quantify their activities using apps. For example, Nike’s Nike+ app enables users to track their running distance and speed.
Several years ago, people had only radios or televisions to watch live games, that too only international-level matches.
However, things have changed in the last few years. With the advancement in technology and the introduction of high-speed Internet connections, people can connect with sports and athletes in more than one manner. In fact, they get multiple ways to become a part of a game.
Today, through various digital media sources, netizens can watch matches online, connect with other fans, and reach out to their favourite athletes.
The world has over 4.66 billion Internet users, which make up more than 50% of the world’s population. It means lots of people have access to the Internet. Thanks to the high-speed Internet connection, there are different types of broadcasting channels where viewers can watch a match live.
eSports and Fantasy Sports
eSports is a branch of the sports industry that has been growing rapidly in today’s technology-friendly world. As per a Statista report, the eSports market was valued at $1.08 billion in 2021. And, it is expected to reach $1.62 billion in 2024.
Fantasy sports is a way of making predictions about a match. How? Let’s assume there’s an IPL match between Chennai Super Kings and Mumbai Indians. You can consider players from both teams to create a virtual team that you believe will perform well during the actual match. During a fantasy game, you compete against other people. The better your chosen players perform, the higher your points will be.
From smart helmets to digital broadcasting, sports have changed a lot and become better over the years. Apart from athletes, advancements in the industry make a sporting event enjoyable and entertaining for viewers.
What do you think about the changes in the sports industry? Which is the best thing about this revolution? Please share with us!