The sports industry is a market where the businesses and products offered fall into almost any category that is sports-related: goods, services, people, places, or ideas.
The highest-grossing subset of the sports industry is, without a doubt, professional sports. Among the NFL, NBA, NHL, MLB, and MLS, there’s a nearly $200 billion net worth.
But the sports industry isn’t confined to simply watching professional sports. Consider the apparel market, recently legalized gambling, stadium and travel costs, supplements, sports medicine, memorabilia, and marketing. In 2017, the estimated sized of the global sports industry topped a whopping $1.3 trillion.
The sports industry is diverse and permeates every space we enter into. Whether you’re scrolling social media, enjoying dinner out, or simply watching TV, you’re almost certain to see apparel, a sports drink ad, or even a clip from a sports network.