The Business of Sports

For activities considered non-essential to society, the sports industry is a thriving and lucrative business. At an estimated worth of $422 billion, the sports industry is a significant sector of the American economy. Sports marketing and advertising spending alone is estimated at $28 billion. The NBA, NFL, MLB, and NHL together bring in $23 billion a year in revenue, which is much more than any state’s operating budget.

Team owners, managers, and sports players are not the only people who net the income in the sports industry. There are three million people employed in the sports industry in some fashion. There are a wide range of positions that need staffing in order for the industry to work well, such as fitness trainers, marketers, PR specialists, and even the entry-level interns. In addition, sports retailers, stores, and website owners also are a vital part of the industry. When analyzed in-depth, the sports industry is a wealthy business with no end in sight.

Source: The Business of Sports [INFOGRAPHIC] | inspirationfeed.com