Many a predictions have been made regarding the sports and its future in the past years, in 2007 it was estimated that sports industry would generate a staggering $50 billion revenue with an increase of almost 2 two folds by the year 2017. As 2017 is almost over and those predictions almost coming true, here are some more predictions regarding the future of the sports.
- Virtual Reality:
Everyone has been hearing about the gradual rise of virtual reality in tech and sports now and if you haven’t then my friend you’ve been living under a rock.
Virtual Reality has already paved its way into the sporting arenas and by 2027 it definitely will be the talk of the town. Just imagine all of those Super Bowls you will get to watch in high definition from the sidelines just by sitting at your couch. Mesmerizing, isn’t it?
Not only this but VR will also facilitate players’ performance, their training, preventing them from injuries and helping them with rehabilitation.
eSports and gaming are new and emerging but with its increasing market demand and interactive fan experience it will have a separate section of its own. By 2016 VR was generating a huge amount of $1.6 billion dollars out of which $300M revenue was generated from software services only. With its increasing demand and market value, sports and VR have a long road of success ahead.
2. Channel Packages:
For long cable service providers and channels like ESPN which tried to hold sports monopoly of NBA or NFL by investing millions of dollars in it. With the evolution of nearly everything, customized channel packages are becoming a thing of today. Customized channel packages will allow users to only subscribe and pay for the channels they want to watch. In this way the sport maniacs rather than paying $200 for every channel will only pay for the ones they want to watch.
This changing of powers if business has produced a trickle down effect and has impacted the economics of viewership greatly.
3. Future of Soccer in USA:
No matter what anyone says soccer in the USA is deemed to stay. After 2009 there has been a mega increase of 16 million US soccer players and it will keep on rising. A game depending on the combination of home grown talented individuals with the rise in the viewership and enhancing the experience through virtual reality, soccer will pave its way as the major sporting event of the USA by the year 2027.
4. Medicinal Marijuana:
Players’ process of recovering from fatal injuries has been painstakingly long leading to their addiction to the opioids and painkillers prescribed to them which has had some serious negative impact on their lives as well as their families’ too. An alarming percentage of NFL players admitted to have been addicted to opioids.
With the new researches on medicinal marijuana and many of the states legalizing it independently and its helpful impact on the player’s health by 2021 the use of legalized marijuana will be a part of CBA negotiations in the NFL players’ union case. Hopefully there will be a decline in the suspension of players using medicinal marijuana by that time.
5. Professional Franchise Ownership:
With the advent of professional sports the model of sports franchise ownership has gone through a little bit of changes.
As the financial technology advances you can expect many franchises willing to sell their interests to sports fans.
6. Brands and Players:
Professional athletes are becoming icons and inspirational figures revolutionizing and influencing the generations. They have become the face of the brands.
Athletes who work professionally, if opt for becoming a corporate entity, can enhance their operational options. This eventually reduces their limitations and the risks involved in being an individual entity. When they sell ownership interests to their fans in their brands, they expand their arena of possibilities