The results of PwC’s recent survey show that the global sports industry is recovering well from the COVID-19 pandemic. Respondents are confident and optimistic about the industry’s growth, particularly in the Australasian region, which is expected to experience strong growth in the next 3-5 years. This growth is likely to be supercharged with the upcoming decade of major sporting events, including the FIFA Women’s World Cup, the 2026 Commonwealth Games, Men’s and Women’s Rugby World Cups, and the 2032 Olympics and Paralympics in Brisbane.
Experts expect women’s sports revenues to grow by more than 15% in the next 3-5 years, and 83% of executives believe that institutional investment will continue to grow during this period. The report also identifies the key initiatives contributing to the growth of women’s sport, with media coverage playing an important role. The media coverage of the 2021 Women’s Rugby World Cup in New Zealand broke ticketing records and saw unprecedented levels of media coverage, and this is expected to be exceeded in 2023 when the FIFA Women’s World Cup comes to Australia and New Zealand. Early ticket demand has been strong, with the Australia’s Matildas opening game against Ireland moved to the 83,500 seater Stadium Australia due to high ticket demand. The interest is expected to translate into record levels of viewers worldwide, driven by an increase in the number of teams competing and an increase in programming and viewership of women’s sport.
Environmental, social, and governance (ESG) considerations are receiving increasing attention as sporting authorities seek to make major events more sustainable and inclusive. With a spotlight on Australasia as the host of several major sporting events in the next decade, local sporting executives will need to pay particular attention to the environmental and social impacts and opportunities that these events will involve. This includes carbon-positive sporting events, recognition of First Nations lands and their peoples, and equity of access and inclusion to participate in these cultural touchpoints.
Read the full article here.
Courtesy PwC