New research indicates that global sports revenues will grow by an annual rate of 3.7% to reach $145.3 billion by 2015.
A new report from PricewaterhouseCoopers says the growth is due to an improved global economy, a rebound in television advertising, the on-going migration of sports to pay television and the return of financial and car companies to sponsorship.
PwC says that North America will remain the largest market for sports revenues, followed by Europe, Middle East and Africa and then the Asian market. Latin America will remain the smallest market.
The report says that gate revenues will remain the biggest component of the global sports market, accounting for 32.6% of the total market. They will remain a key source of income in the regions where live sports events are part of the culture.
Accounting for 28.8% of the total sports market, sponsorship will see a growth rate of about 5.3% in the years to 2015, generating global revenues of $43.3 billion.
PwC says that media rights is the third largest category and accounts for 24.1% of the total market and it predicts that revenues will rise from $29.2 billion in 2010 to $35.2 billion in 2015.
Merchandising is the smallest category of revenue, accounting for 14.5% of the total global amount. However, it accounts for just over a quarter of all revenue in North America.
PwC said that the sport and entertainment industries are seeing closer convergence as both sector rise to the challenges brought by digital technologies which are changing and shaping the way people spend their leisure time.
