The one thing I wonder is if sports are beginning to cannibalise their own cultural relevance with all the imposed expense on the people who are supposed to be key supporters of the product. Baseball did this. One third of Americans used to love baseball. Now it's less than one tenth, which means the overall number of baseball fans in America has stayed about the same (30M or so), and the NFL also hasn't gained any relative popularity since the 1970s. Anecdotally, it also feels like sports are less culturally relevant than they've ever been in my life right now. Even ten years ago, it was much easier to walk up to a human on the street and have a conversation about sports than it is now.
Sports are evidently going with the notion that a small audience with tons of money per head is the right way to go. The only American sport gaining in relative popularity right now is the NBA, and even its viewership is looking fairly stagnant. The argument I often get in return is that you don't (directly) make money from cultural relevance, and I get that, but if baseball had somehow maintained its loyal viewing audience of one third of the entire country imagine how much money they'd be making right now.
I also don't expect any negative monetary outcomes for the players involved in any sports league, but if we allow these processes to continue to completion I think you were on the right track with analysing advertiser suitability. If something is truly not culturally relevant, how much money will there be in the industry?
This is very good Austin!
The one thing I wonder is if sports are beginning to cannibalise their own cultural relevance with all the imposed expense on the people who are supposed to be key supporters of the product. Baseball did this. One third of Americans used to love baseball. Now it's less than one tenth, which means the overall number of baseball fans in America has stayed about the same (30M or so), and the NFL also hasn't gained any relative popularity since the 1970s. Anecdotally, it also feels like sports are less culturally relevant than they've ever been in my life right now. Even ten years ago, it was much easier to walk up to a human on the street and have a conversation about sports than it is now.
Sports are evidently going with the notion that a small audience with tons of money per head is the right way to go. The only American sport gaining in relative popularity right now is the NBA, and even its viewership is looking fairly stagnant. The argument I often get in return is that you don't (directly) make money from cultural relevance, and I get that, but if baseball had somehow maintained its loyal viewing audience of one third of the entire country imagine how much money they'd be making right now.
I also don't expect any negative monetary outcomes for the players involved in any sports league, but if we allow these processes to continue to completion I think you were on the right track with analysing advertiser suitability. If something is truly not culturally relevant, how much money will there be in the industry?
Good read Austin!
Really I mean really great research!! Thanks for the knowledge and insights!
Thanks!