Impact of COVID-19 on Sports Industry

Abstract

Objectives: To find the impact of COVID-19 on the sports industry and how the industry will adapt to the changes. Methodology: Secondary data was collected from several websites related to various sports’ revenues, broadcasting, and sponsorships. Primary data was collected in the form of public opinion to analyze the change in the coming years. A qualitative method was used for the analysis. Findings: After analyzing the data following results are indicated concerning the changes in the sports industry: a) Sports industry is set to take a massive loss in terms of revenue, b) The public would not attend any sports event until early next year or until a vaccine is developed, whichever is the earliest. Limitations: The limitations of the research could be the revenue data which is likely to change with the resumption of sporting activities. Public opinion might vary as the situation improves, and the idea will differ from one country to another. Application: The study will be helpful for all sports enthusiasts as they would get to know the overall industry scenario and for students who would want to explore the sports industry from the outside.