Understanding COVID-19’s impact on the sports sector
Respond: Guidance for sports executives
With the pandemic likely to be with us for some time, the entire sports ecosystem will need new ways to deal with threats to financial and business continuity arising from disrupted cash flow, insurance challenges, and possible declines in long-term attendance and engagement.
The effects of COVID-19 continue to ripple through the world’s health, educational, financial, and commercial institutions, and the sports ecosystem is no different. The nonstop sports entertainment we’ve come to expect has come to a halt. This article discusses how owners, broadcasters, and advertisers are trying to figure out the various downstream impacts of the pandemic while also considering new technologies and channels to help engage fans during suspended or modified league operations.
Topics covered in this article:
- The potential long-term impact on the pro sports ecosystem
- Challenges for sports businesses
- Questions sports owners, executives, and boards should be asking now
- Practical next steps
- The role of sports in our shared recovery
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