How Technology Could Help Sports Survive the Pandemic

The COVID-19 pandemic is revolutionizing business, and some industries have been more prepared for the changes than others. The sports world falls in the latter camp. The sports industry has been mind-blowingly lucrative for decades, with teams earning big bucks from ticket sales, broadcast partnerships and licensing deals. These three revenue streams have only grown with technology’s rapidly changing evolutions. From 2011 to 2018, the global sports industry valuation grew 45%, to a whopping $471 billion in 2018, according to the World Economic Forum. Entering 2020, the year of the highly anticipated summer Olympics, life in the sports world looked brighter than ever.

Jason Neureiter, Corporate Account Manager - Broadcast & Sports, Adorama Business SolutionsJason Neureiter, Corporate Account Manager - Broadcast & Sports, Adorama Business SolutionsOf course, we know how this story ends. When March 2020 rolled around, the sports industry, as well as the world, catapulted into chaos overnight. The multi-billion-dollar Olympics were postponed. The money-maker that is March Madness was canceled. And, as the COVID-19 tale goes, other teams and leagues followed suit. This begged a terrifying question for those in sports:

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