The sports industry has had a significant role in cultures throughout time. Not only do sports provide an outlet for the citizens of the region as participants and observers, but sporting events and activities have translated in the modern day as a means to generate income, increase tourism and support development of state-of-the-art facilities in communities throughout the world.
The interest in hosting the modern-day Olympic Games has shown that, when planned well, the Games can bring significant value to a host community including the immediate economic impact of athletes and fans at the event and in longer term benefits to the community by the addition of facilities that continue to benefit the area residents. In the 1960’s the Olympic Games began being televised, and that increased visibility and corporate support changed the future for host communities by significantly raising the economic stakes.
Events such as Championships in professional men’s sports (football, baseball, basketball, etc.) have drawn millions of fans to their venues and created significant impact on the host communities. College sports championships in a number of sports have grown to such an extent that they also create a significant impact – as witnessed by events such as the football Bowl games, NCAA basketball championships and other sport championships and tournaments.
Traditionally men’s events have led the way with attracting fans, but women’s events continue to grow on many levels. The NCAA Women’s Basketball Final Four has sold out in recent years, women’s soccer is growing in leaps and bounds, and opportunities for television coverage of women’s events have improved.
Since the passage of Title IX legislation in 1972, participation levels in women’s sports have increased more than 900%. In that same time, participation levels for men’s sports have increased as well. Today’s young athletes have significantly more opportunity to be involved in sport, and most likely have better facilities and support than they had 36 years ago.
Sports have become a lifestyle with parents taking their children to practices, games and tournaments for both schools and youth leagues. Related sport services (clothing, media, equipment, training facilities, etc.) have grown along with the population, making the sports industry one of the strongest in potential for growth and opportunity.
Magic Sports is poised to take advantage of this thriving industry.