Sports organizers and race organizers are implementing mobile ticketing to provide hassle free ticket purchase experience. Mobile ticketing is the process where customers can buy and validate the tickets using mobile phones. Event organizers production and distribution costs associated with traditional paper-based ticketing channels is eliminated with the implementation of mobile ticketing. Apart from this, the data exchanged digitally through ticket transactions enables sports organizers to learn more about fans and generate insights to formulate marketing strategies from the database. For example, Barcelona implemented mobile ticketing and eliminated paper tickets by introducing a new system that allows fans to scan a bar-code on their phones gain access to matches. Pocono Raceway launched a mobile ticket delivery system that allows fans to have their ticket delivered to their mobile device and have their ticket scanned at the gate directly from their mobile device.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL SPORTS MARKET TO GROW TO $662 BILLION BY 2021
North America was the largest region in the global sports market in 2017, accounting for one-third of the market share. This was mainly due to developed sports infrastructure, high disposable income, increase in number of foreign tourists and huge popularity of auto and horseracing in the country.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, sports organizers have started implementing virtual reality technology to improve the spectator experience in a sporting event. Virtual reality technology generates images, sounds and other sensations that simulate a physical presence in an imaginary environment. Clubs and teams are experimenting with simulated and 360-degree environments to enhance the match viewing experience of the fans by allowing them to have a virtual walkthrough of the stadium or the race track and view the match at different angles. For instance, NBA game between the Sacramento Kings and San Antonio Spurs was broadcasted in VR. The viewers could watch the action from a myriad of angles, including underneath the basket. NASCAR has created an interactive fan area at the race tracks with the implementation of virtual reality.
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Dallas Cowboys Football Club, Ltd. was the largest player in the sports market, with revenues of $0.8 billion in 2017. Dallas Cowboys’ growth strategy aims to increase its revenue sources by investing in infrastructure for training and other recreational purposes. Dallas Cowboys invested around $1 billion to construct a mixed use facility named The Star in Frisco, Texas which includes a training center, shopping, dining, athletic, fitness, and hotel facilities.
The sports market includes establishments offering spectator sports and participatory sports. Spectator sports include teams or clubs and independent athletes primarily involved in presenting sporting events before a paying audience. The owners of racing participants primarily involved in entering the participants into racing events or other spectator sports events and the sports trainers who are involved in providing specialized services to support participants in sports events or competitions are part of this industry. The establishments involved in operating race tracks are also included in this industry.
Sports Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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