Sport Business in the Next Decade: A General Overview of Expected Trends

Abstract

The purpose of this paper is to briefly look back at the sport industry in the 1990s and to make some predictions for the sport industry in the upcoming decade. The 1990s were particularly strong for the sport industry, exceeding the highly optimistic predictions made at the beginning of the decade (Rosner, 1989). However, the authors predict a general decline in the U.S. economy, which will certainly impact the sport industry. Because of a number of problems currently facing the sport industry, including increased competition, heavy debt, and poor relations with consumers, sport industry professionals will need to use some creative strategies in order to continue to thrive. Some of these strategies include taking advantage of new technology; exploiting the big events, rivalries, and stars; tapping new markets; improving targeting efforts; attempting to reconnect with traditional fans/consumers; using creative financing; cutting the budget more frequently; and increasing synergy.