The sport industry encompasses individuals, activities, businesses, and organizations involved in producing, facilitating, promoting, or organizing any activity, experience, or enterprise centered around sports. It is the market in which the businesses or products offered to its buyers are sports-related. The industry saw extreme growth in the 2020s, achieving unprecedented revenues. Former University of Oregon professors Dennis Howard and Roger Best estimated industry earnings of $2.65 trillion across the globe in 2023.
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👉 Sport industry in the context of Sports in the United States
Sports in the United States are a significant aspect of the nation's culture. Historically, the most popular sport has been baseball. However since the mid 20th century American football has slowly become the most popular spectator sport. Additionally, Basketball and Ice Hockey saw a significant growth during this period due to the advent of television. As such, the sanctioning bodies of these sports (MLB, NFL, NBA, and NHL) comprise what broadcasters refer to as the "Big Four" of the sport industry. These sports, with the addition of soccer, are the most popular sports played at the youth level.
In the first half of the 20th century boxing, collegiate rowing, and collegiate football were among the most popular sports after baseball. Soccer(football) has emerged as the fourth most popular sport in the 21st century, surpassing ice hockey. Roughly 27% of United States-based sports fans show an interest in soccer, compared to a global average of 40%. By contrast, American football is the most popular sport in the United States with 52%. Basketball with 43% and baseball with 37% are further behind. Approximately 17% of the people in the United States follow ice hockey.