SeatGeek is a search engine and mobile-focused ticket marketplace that allows fans to buy and sell tickets for live events. As of August 2018, SeatGeek has exited the Australian, New…read more
Global sports survey shows impact of COVID-19 pandemic
The Coronavirus pandemic is having a deep impact on the global sports industry, according to a new survey from business advisory group PricewaterhouseCoopers (PwC).
PwC’s Sports Industry: System Rebooting report projects that growth in the sector will fall by more than half over the next three-to-five years from an annual rate of 8% in recent times to just 3.3%.
The slowdown would be more abrupt but for the relatively buoyant sports betting segment which is benefiting from the recent opening of the potentially huge United States market.
Based on responses from several hundred executives around the world, the survey estimates that the present crisis will lead to revenue shortfalls of between 30 and 40%.
In addition, many executives think the pandemic, which has now claimed the lives of more than one million people, could lead to drastic and permanent changes, with the traditional pyramidal system of European sport widely judged to be under threat and fans expected by some to delay returning to mass events even once restrictions are lifted.
On a more positive note, esports are judged to have emerged as the "big winner" of the lockdown period.
Commenting on the report, David Dellea, Head of PwC's Sports Business Advisory, stated “in general, our study shows that the prevailing pessimism is cut by the many opportunities brought about by the crisis.
"This situation may favour the emergence of changes that have long been considered but never achieved to their full extent, whether it be hybrid sports, new revenue streams, drastic governance reforms or enhanced collaborative models."
Click here to view the report.
29th September 2020 - Expressions of interest sought for chairperson for Sport Australia
31st August 2020 - Sporting partnership launches New Zealand 2020 National Sport Club Survey
20th August 2020 - Monash University to support student eSports gaming
10th July 2020 - China bans international sporting events until 2021
3rd May 2020 - Five people charged in esports investigation
2nd August 2019 - Money In Esports Summit coming to Sydney
27th June 2019 - China esports market value to hit US$1.9 billion this year
31st May 2019 - New guide explores the future of esports venues
12th August 2018 - PwC report says Sydney is ‘no fun’ for residents
19th May 2018 - Consultants report reopens debate on new Auckland Stadium
16th November 2016 - Third Money In Sport Conference sees data as key to the future
28th July 2015 - Key Asian sport business event returns to Singapore
23rd June 2015 - UAE leisure sector to attract 45 million visitors by 2021
13th December 2011 - PwC predict global sports revenues to reach US$145.3 billion
29th May 2010 - PwC predicts strong recovery for sports industry
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