An interesting study was published by Two Circles today that focused on the future of the sporting event world for the rest of 2020.
SOURCE-Only 53% of the sports events originally scheduled for 2020 are likely to take place this calendar year according to projections by Two Circles.
My first reaction to this number was "that seems a little high, no?" I would've guessed that number was closer to 25%. Encouraging, I guess?
As of April 20, Two Circles models – which update daily based on changes in the rate of infections and confirmed scheduling alterations – show that 26,424 events are due to be held by calendar-end. This is 53% of the events anticipated pre-Covid-19.
Like any model, I'm sure this changes by the day. This study was published today, but that 53% number could go higher/lower by week end. Still interesting to see where we are at.
As a result of the interruption to live sports, as of April 20, Two Circles estimates that the global sports industry will generate $73.7bn in revenue2 in 2020 – $61.6bn less than the $135.3bn projected before the Covid-19 outbreak. In 2019, the global sports industry generated $129bn in revenue and it had been anticipated the industry would grow by 4.9% year-on-year before Covid-19 struck.
Almost every industry across the world has been hit hard, but that $61 billion number? Sheesh. To put that number in perspective, the combined value of the 19 highest valued NFL teams is $62.3 billion.
Sports are slowly coming back across the world:
Properties such as German football’s Bundesliga plan to recommence from May, albeit with only 240 people – including players, coaching and medical staff, match officials and production staff – involved per game. Sports in countries where Covid-19 infections appear to have peaked, such as South Korea and New Zealand, are also eyeing behind-closed-doors returns.
We will see a spike in September. So, if you are wondering when sports will come back on a big scale, it's looking like September would be a good bet.
“Compared to most other industries, in recent times of economic adversity sports has proven to be recession-resilient. Whilst live sports is halted, every corner of the sports industry will continue to feel this significant financial pain, but we are certain that it returns, whether that’s behind-closed-doors or with full houses, sports’ economy will thrive once again,” he added.