Five Key Trends That Are Driving the Business of Sports
- Article Source
Mooney, L. (2014, April 28). Five Key Trends That Are Driving the Business of Sports. Retrieved September 21, 2015, from https://www.gsb.stanford.edu/insights/five-key-trends-are-driving-business-sports
- Article Topic
Business of sport
In summary, this article asks, “What’s the difference between a customer and a fan?” and attempts to answer this question throughout the piece. The article focuses on five key trends that seem to be driving the business of sports in the industry. These are:
- Big data is changing basketball management — and the game itself
- The rise of “smart arenas”
- Cracking the code of even deeper fan engagement
- Using tech for sponsorship and integration
- Globalization of the hometown team
These trends are changing the way in which we recognize sports as a business and use technology to further engage with people.
This article relates to some of the discussion topics we were presented with over the course of this semester because trying to define and grasp a fan relationship is difficult to do. However, organizations are hungry to deepen the fan engagement level and by using technology we are now flooded with ways to cast a wider net in support of the hometown team, which is now recognized on the global level. This was an interesting read because I believe it is in line with the direction that sports are going and how technology is aiding us in everyday in this process. I am a consumer of sports and I want the latest information on my team. As a lover of statistics, it excites me that teams are beginning to use analytics to enhance their game plans.
- World Impact (if applicable)
On the world scale, I think the direction we are headed is that if you are not technologically “with it”, you are going to get left behind in the dust of a movement where technology and integration is at the forefront of successful and used by all who wish to take advantage of the resources now readily available online.