Sports isn't just for fun, it does generate revenue to the economy... Read for more exposure
Every Industry has a goal and that is to generate income. The Sport Industry isn't left out in this goal. However, the aim of generating income in Sports Industry is to encourage sporting activities.
How Much does Sports Industry Generate
There are so many Sport in the world. There's Football, Volleyball, Basketball, Baseball, Athletics, Swinming, Golf,etc. These Sports generate a certain percentage yearly to the sports industry. We'll now take a look at some of these sports and their yearly income.
Football
Among all other sports, Football still remains the most played. It's the most popular sport in the world. It gathers a lot of sponsorships from various companies who would want to advertise their products or services.
For instance In the 2019/20 season, Manchester United had sponsorships on their home kits from Adidas, Chevrolet and Kohler. Per season, it gets around £75 million from Adidas, about £64 million from Chevrolet and £10 million from Kohler.
In the year 2019, the National Football League had a tournament consisting of 32 teams. At the end of 267 matches,the total revenue was 14,077 Million Euros, 439.9 million Euros per team and 52,723 thousand Euros per match.
This is the due to how popular the Football sports is. Even top players aren't left out. As of 2018, Juventus bought Cristiano Ronaldo for around £100 million from Real Madrid. This is how lucrative Football is.
Basketball
Just as Football is Popular, so is basketball. Statistics recorded as of 2019, just 68 of 351 Division in men’s basketball programs generated more revenue than expenses.
The players earn between $21,000 to $40,000 with top earners making $50,500 annually across the United States. Record has it that the National Basketball Association across America and Canada had 30 teams contest in the 2018-2019 season.
At the end of 1312 match per game, a total revenue of 7707 million Euros, 257 million Euros per team and 5,874 thousand Euros per match.
Golf
Golf isn't left out in the industry as it generates its own income in a peculiar way. Starting from playing golf costs around $84 per person. The industry generates nearly two million jobs and accounts for $1 billion in revenues.
In the society today, Golfers are mainly rich men and retirees. This is why Golf is tagged ‘Big man sport'. During the 2015 PGA sport, Jason Day, the winner, got $1.8 million in prize money. Not just him, even to the 50th person got tens of dollars, unlike other sports.
Baseball
The Major League Baseball includes 30 teams with 25 players each. It consists of a total of 750 active players and they play 162 games per season. According to a report by Forbes, the MLB grossed a record $10.7 billion in revenue for the 2019 season, an increase from the $10.3 billion the prior year.
As of May 27, 2022, the average yearly income of Baseball players in the United States is $42,752 a year. That is approximately $20.55 an hour, $822/week or $3,563/month.
We, therefore, see that every sport has its own way of generating income. No sport is therefore unimportant!.