Trends in Professional Sport Organisations and Sport Management and Their Market Impact
The sport industry is a unique segment of economic activity which spans across the public, private and voluntary sectors like no other industry. The fastest growing sector is undoubtedly professional sport where sport is commercialised for profit; nations, cities, businesses and individuals reap economic rewards. This growth is primarily due to the manipulation of sport by the media, producing the televised sport product and realising increased values from media rights (Forbes 2016). Most recently the rise of e-gaming (Hamari and Sjoblom 2017) is a new and innovative manipulation of sport and technology to create a product highly sought after by Millennial markets. Nielsen has recently launched a new e-sport business to help define and quantify value for the competitive gaming market, thought to be worth over 900 million USD (Beck 2016). And so, the world of professional and e-sports represents considerable opportunity for entrepreneurs, new business models and innovative products. Yet the commercialisation of professional sport as a form of manipulation has been happening to sport in general for hundreds of years and may also create negative impacts on society and on the world of sport management.
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