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Sports & Entertainment Overview

With the growing connectivity between industries thanks to the advancement of technologies, the sports industry and entertainment industry have become inseparable. While the traditional sports industry was limited to the sporting games and teams, sports entertainment in today’s world encompasses the extravagant presentation event hosting aspect that aims to entertain the audience. Sports already account for a major portion of the overall entertainment industry landscape, where the traditional media and entertainment industry of television, film, print, and radio has transformed and incorporated into the realm of social media.

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Sports and entertainment industry encompasses a wide variety of sectors such as marketing and engagement, team performance, sales and commerce, strategic demand management, and digital asset management. As audiences look for the entertainment aspects before and after sporting events, the two industries have become increasingly intertwined into businesses and become a lifestyle. The commercial dynamics between sports and entertainment are made through sponsorships, featuring artists, advertisements, and more, and the consumers’ expectations are shifting as fast as ever. With the global spread of Covid-19, this growth in the sports & entertainment industry has shifted towards eSports and digital entertainment. While all the sports leagues and the 2020 Olympics have cancelled or postponed their seasons and all the cinemas closed under lockdown, eSports leagues and movie streaming services have experienced exponential growth during the pandemic. Adaptability and resilience, especially with understanding the new technology and the digital generation, thus will be crucial in determining the future of the sports and entertainment industry.

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