In other words, the trickledown effect works here as when famous sportspersons endorse brands, they are helping to promote such brands because they have the necessary visibility and fame along with Top of the Mind recall among the fans and viewers to be taken seriously. ![]() Brand Endorsements and Brand Ambassadorships, wherein famous sportspersons are signed up to endorse Brands and this leads to more such arrangements which are the collateral benefit. Indeed, the Olympics and Football World Cup, along with the Tennis Grand Slams and the Formula 1 series, and to some extent, the Cricket World Cup, as well as the bilateral series, are all events that bring out the moneybags.įurther, it is not only the TV ads that bring in the money. Thus, it is routinely the case that the TV rights for major sporting events are sold for Millions of Dollars. ![]() With TV, Millions and even Billions more could tune in thereby providing a humungous platform for advertisers and marketers to reap the benefits of this viewership. Until then, the money could be generated only from spectators paying to watch the games in stadia. To start with, the advent of Television can be said to have been the game changer as far as commercialization of the same is concerned. Let us now look at the economics of sports how sports have become a money spinner for all stakeholders. The Economics of Sports and How the Advent of TV was the Game Changer It is also the case that excessive commercialization tends to take the focus of the sports away from the action and instead, make the sideshows more relevant and essential. ![]() Of course, when spectators are willing to pay to watch or lap up the ads on TV, and when advertisers see big monies to be made in promoting their brands around the time of major sporting events, and when the players themselves benefit from these aspects, there is nothing inherently wrong in professionalizing and commercializing sports. It was not always like this and there was a time before the 1970s and 1980s when sports to be played for sports sake and not for the moneys sake. Indeed, the move to make even the least commercialized sports into money-spinning ones is indicative of the huge and tremendous interest in such disciplines for all stakeholders. Whether they are sportspersons, corporates, advertisers, or the sports bodies tasked with administering the game, all of them stand to gain from the infusion of Million Dollar deals that have become the norm rather than the exception. Nowadays, sports mean big bucks for all stakeholders.
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