The sports industry, intended as the organization of sports events and related betting and licensing activities, is estimated to have lost between 30 and 40 percent of its revenues because of the Covid-19 pandemic, based on a study conducted by PriceWaterhouseCoopers (PWC), and its recovery will be slow. A survey attached to the study shows that the sector will likely post an average annual growth of 3.3 percent over the next three to five years, although 30 percent of the 780 respondents in more than 50 countries indicated that its revenues will be flat or trend down. Income from licensing and merchandising is projected to go up at an average annual rate of 3.4 percent, while the growth in sports sponsorships and advertising will be limited to 2.2 percent. Major growth is expected in athlete-generated content and sports documentaries. In particular, 90.5 percent of the respondents felt that the consumption of short-form content will grow in the next few years, especially through the social media. In any case, these and other new revenue streams, including enhanced collaborative models, will make up for lost revenues from live sports.
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