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Outlook of American sports industry in 2021 From Deloitte Consulting

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The following is the Outlook of American sports industry in 2021 From Deloitte Consulting recommended by recordtrend.com. And this article belongs to the classification: Sports data, Deloitte Consulting , research report.

According to Deloitte’s analysis, three key issues should be considered in the sports industry in 2021

Reshape and expand the revenue generation model. As a result of the pandemic, many traditional income streams have disappeared almost overnight, and sports organizations are trying to fill the gaps. Forward looking organizations should consider a wide range of potential solutions, including monetization of data related to fans, player and team performance and sports gambling; innovative real estate solutions; and unique partnerships with technology companies to help enhance the fan experience. NBA ends its 2019 – 2020 regular season. Due to the COVID-19 pandemic, the playoffs were plunged into a “bubble” and the League lost about $500 million. Therefore, it is necessary to find ways to bring fans back to the arena and create other sources of revenue in 2021.

Rethinking the role of sports in society. Although the struggle for social justice goes beyond sports, leagues and athletes have a strong platform to promote major changes in the whole society. American sports organizations should consider social justice as the core component of their mission, culture and brand.

Redefine the relationship with fans. The hollow echo of the open or partially filled gymnasium highlights the urgent need to establish a year-round and two-way relationship with fans. As coping with the new coronavirus pandemic will remain a major challenge throughout 2021, sports organizations must invest in multi-channel digital solutions, ranging from streaming media platforms, augmented or virtual reality to artificial intelligence and “virtual fans.”. These solutions affect fans’ behavior and promote their participation throughout the year. Hosting a single application, website, or social media account may not be enough; they are all important and should be tightly integrated across channels.

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