Connect with us

Hi, what are you looking for?

Economy

[B-SIDE Podcast] The sports industry: down but not out

Follow us on Spotify BusinessWorld B-Side

Everybody loves a comeback story, where the underdog—beaten and bruised—wins it all despite the odds. The sports industry has to recover from a year that saw tournaments canceled and stadiums silent and empty. In this B-Side episode, Rely San Agustin, a sports marketing professional who has been in the industry for more than 20 years, tells BusinessWorld reporter Michael Angelo S. Murillo how sports stakeholders are dealing with the harsh reality that getting fans back into the stands will take time. “A bubble setup makes sense,” said Mr. San Agustin. “Seclusion is needed. You really have to control movement in and out of the venues.”

TAKEAWAYS

Last year—2020—is a lost year for sports.

The effects of the coronavirus hit the revenues of various sports leagues, which were forced to shut down to comply with government quarantine, as well as budgets reserved for sports activities and programs.

“We were taken by surprise by the pandemic, leaving stakeholders scrambling for what’s next to be done to move forward,” said Mr. San Agustin.

To survive, sports leagues are replicating the “NBA Bubble.”

Sports leagues, such as the Philippine Basketball Association and Philippines Football League went the “bubble” way for their activities—a setup where they had all tournament participants holed up in a specific area for a duration of time to guard against the spread of the coronavirus.

It is proving to be a viable option but requires utmost commitment across all levels to succeed. 

It’s going to be a long trek back, requiring patience and the ability to adapt.

The sports industry will be among the last to return to normal, which is why stakeholders must use the time they have right now to carefully chart the path they are going to take.

But all is not lost for the sector as there are avenues to take in its return push, including bringing sports entertainment and brands to consumers through a digital approach—going online and exploring the potential of e-sports. The role of social media is now valuable more than ever.

It is still wait-and-see for sports but it will recover gradually.   

This B-Side episode was recorded remotely in December 2020. Produced by Nina M. Diaz, Paolo L. Lopez, and Sam L. Marcelo.

Follow us on Spotify BusinessWorld B-Side

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Investing

The number of businesses going bust in England and Wales jumped last month to its highest level since the start of the pandemic, as...

Economy

Co-engineered with ZEISS, new vivo X70 highlights state-of-the-art mobile photography technology Global brand vivo remains top of mind when one thinks of premium imaging...

Investing

Half of the UK’s working mothers do not get the flexibility they ask for, while those that do work flexibly face discrimination, according to...

Economy

By Jenina P. Ibañez, Reporter   Money sent home by overseas Filipino workers (OFWs) increased for the seventh straight month as more host economies with...

Economy

The Bureau of Internal Revenue (BIR) clarified that only medicines and medical devices for the treatment of coronavirus disease 2019 (COVID-19) included in an updated government list...

Economy

Typhoon Kompasu has resulted in the worst container shipping traffic jam in months, one that now stretches throughout Southeast Asia and may take weeks to unravel. ...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

US President Joseph R. Biden, Jr., will rely on ally countries to supply the bulk of the metals needed to build electric vehicles and focus on...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!