Tuesday, December 15, 2020

New York Times: "2020: The Year in Sports When Everybody Lost"

The New York Times article is highly interactive but the research on professional sports is detailed. One could easily translate the impact from Wisconsin to Massachusetts. While the Red Sox, Patriots and others are and/or were playing, the economic impact is staggering beyond the field/court/rink.
"In 2020, the sports industry in North America was projected to generate $75.7 billion, according to PwC, the accounting firm. Instead, it lost more than a third of its value as leagues suspended play before returning with stripped-down seasons.

Television ratings have tumbled for many top sporting events, and advertising, printing and revenue streams connected to the sports business, like concessions, have practically vanished.

While the coming vaccine in the United States raises hope that fans will be able to return to stadiums by late spring or early summer, the spread of the virus this winter will only deepen an already cratered sports economy. The modern sports industry has never faced such a prolonged, devastating interruption, and it is premature to gauge when sports will return fully to their pre-pandemic state, or if they ever will."
Continue reading the article online (subscription may be required)

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