Sports industry leaders are fearing “sector’s growth rates to slow down” from 8% at present to 6.4% per annum over the next 3-5 years.
PwC Sports Survey 2017 – Sports: the most disrupted of all industries? indicates the fears of the industry growth rate to slow down “by an average that exceeds 20%” over the next three to five years”.
“The message is loud and clear: sports leaders no longer have sky-high confidence in the industry’s continued growth,” the report states. Broadcasters and Media face the worst slowdown from 8.1% to 5.5% @ -32% over the next three to five years. Leagues and clubs, though rated to have best prospects, too will have to encounter a decline in the growth – from a 9.1% at present to 8.1%. Sports’ tech companies and investors are the best placed at present with an annual growth rate of 12.3%. The sector is feared to slow down at the rate of -26% to slide to 9.1%, the report states.
The survey has analysed the growth prospects of broadcaster/media companies, tech companies and investors, other organisations and consultancies, international federations, sports marketing agencies and brands and leagues and clubs.
However, in spite of an expected decline in the growth, the respondents remain optimist that the industry will grow by a healthy 6.4% on an average over the next 3-5 years.
The majority of the respondents expect football and basketball to maintain their domination in global sports market. eSports is headed for a bright future. However, Olympic Games – summer and winter alike – face greater uncertainties.
PwC has conducted the online survey between May and June 2017. The sample group of the survey comprised professionals in senior/C-level position within their respective organisations. Respondents across the board expected growth rates to slow down by an average that exceeds 20%.