Professional sports have been greatly exploited for financial benefits in many nations. This essay will explain the driving reason on this trend and it will also discuss the effects on both players and audience.
There are several reasons why a recreational game was transformed into a multi-billion global entertainment industry. Firstly, media companies pay a massive fee to secure an exclusive live footage of a sport. Being a sole media for a specific sport coverage allows them to monopolize spectators to watch their channel. Avid sports fan often times pay channel subscriptions no matter the cost just to watch a live game. Secondly, a team of players are a brand name plastered for merchandising. Due to the sport broadcasted worldwide, it opened opportunities for advertisement. Professional teams generate high revenues through official clothes, gears and liscensing.
Sport marketing has been beneficial to professional players. One positive effect this brings is improved team funding. With the increased revenue, it offers professionl athletes life-changing salaries while further developing their facilities and upgrade technology. Yet this has an implication to small and starting teams where a wealthy franchise overshadows them with high-end facilities for training, making it difficult to compete. Furthermore, streaming of live sports crossed international borders, allowing citizens from various country to enjoy the game.
In conclusion, the marketing of sports was mainly due to broadcasting rights and opportunities for brand advertisement. While the monetization of sports became a great source for team funding, it became a challenge for lesser known team to compete against wealthy a team.
