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1、2023 sports industry outlook2The virtualization of sports:From novelty to utility 4Tackling risks in a maturing sports betting market 5Private equity and sports:Teaming for the long term 6The next win for womens professional sports 7New possibilities from the professionalization of college athletics
2、 8Signposts for the future 9 Contents2023 sports industry outlookAbout Deloittes outlooks Deloittes 2023 outlook for the sports industry seeks to identify the strategic issues sports organizations should consider in the coming year and their impacts,as well as critical questions to ask and key actio
3、ns to take.The goal is to equip sports organizations with the information they need to help position themselves for a strong,resilient future.3In this global golden age of sports,2023 is expected to bring organizations and athletes more chances than ever to deeply connect with their fans.This includ
4、es engaging through some important international events like the Cricket World Cup(India),Rugby World Cup(France),and the FIFA Womens World Cup(Australia and New Zealand).This year will also see new media deals and more innovations from streaming providers as their influence grows.In a challenging e
5、conomic environment,sports will likely still be seen as an attractive option for investment,with investors endeavoring to take a responsible and sustainable approach.Technology will continue to infuse every aspect of sports,empowering athletes and creating a more immersive experience for fans at liv
6、e events and at home.In general,2023 will be about making the most of these near-term opportunities while managing associated risks with the longer term in mind.Here is our 2023 outlook in brief:The blending of physical and digital experiences will move from proving concepts to creating new function
7、ality and better experiences.With the possibility of new sports betting restrictions emerging around the world,there will be a greater emphasis on risk management and responsibility as the industry seeks more growth and profitability.Interest and involvement by private equity investment in sports wi
8、ll continue to grow.How will sports organizations respond to new types of investors and their expectations?How will investors act during a potential economic downturn?After a breakthrough year,womens professional sports are in a strong position to further advance in 2023,but additional work is neces
9、sary to improve awareness,expand sponsorship,and grow media rights valuations and investment.College athletics in the United States are undergoing unparalleled change.It will be a challenge to balance the extraordinary opportunity with responsibility to student-athletes,schools,fans,partners,and alu
10、mni.2023 sports industry outlookExecutive summary 4The use of digital assets such as non-fungible tokens(NFTs),fan tokens,and blockchain-enabled tickets are evolving for sports.Many major sports organizations across the world are working with partners to build markets in these areas.Simple digital c
11、ollectibles,originally seen as curiosities,are becoming advanced digital assets that can be used to improve fan engagement and loyalty and create new business models and even more new revenue streams.In the coming year,expect to see major strides for these assets.The broader NFT market has softened,
12、with overall sales and activity seeing a significant decline in 2022.1 However,the sports market naturally lends itself to the“collectors mindset”and athletes,teams,and leagues are continuing to look at how to best leverage these assets to drive fan engagement.Many leagues and organizations have for
13、med partnerships in this space,some with multiple technology and entertainment companies,for different products.Sorare has partnered with the National Basketball Association(NBA),Major League Baseball(MLB),Major League Soccer(MLS),Bundesliga,LaLiga,and other football(soccer)leagues for their NFT-bas
14、ed fantasy games.2 FIFA launched FIFA+Collect with partner Algorand to provide a platform for World Cuprelated digital collectibles.3 The National Football League(NFL)is working with Mythical Games on NFL Rivals,a blockchain-based mobile game;Ticketmaster on commemorative NFT tickets;DraftKings on R
15、eignmakers,an NFT-based fantasy sports game;and Dapper Labs on NFL All Day,an NFT marketplace.4 Digital collectibles,and their potential as an investment,are not likely to drive this market alone in the long term.The shift toward NFTs that can provide additional utility,functionality,or redeemabilit
16、y to the owner will be imperative.This could include NFT ticketing,which is beginning to see use for music concerts and is being discussed for international sporting events.5 NFT ticketing can reduce fraud,increase transferability,and establish a live and eternal link between issuer and owner.It als
17、o has the potential to drive new sources of revenue for sports organizations through secondary sales.The key is to not just replace something physical with something digital,but to connect and leverage the two to create new value.NFT tickets could unlock unique benefits for fans,like access to real
18、and virtual events with athletes,privileges in venues,voting on team/club decisions,and exclusive access to unique merchandise.The virtualization of sports:From novelty to utility NFTs in sports will need to overcome some barriersand quicklyto progress rapidly.For many fans,the barriers to entry can
19、 seem high,mainly because of a general lack of understanding of what NFTs are and how they work.There are also worries about risks and immaturity in the market and the sustainability of the services.6 Sports organizations and their technology partners should consider making it as easy as possible fo
20、r the average fan to set up a wallet and purchase digital assets.These challenges will likely have to be addressed if sports organizations want new revenue sources,better fan engagement,and more knowledge of their audience.2023 sports industry outlook Should sports organizations base their NFT strat
21、egy on specific benefits,or broad utility for fans?Which approach is most likely to drive rapid growth for the market?How can these offerings drive fan loyalty in different ways than traditional activities?How can sports organizations encourage innovation and interoperability across disparate platfo
22、rms?How can existing service providers innovate fast enough to keep up,specifically in ticketing and loyalty?Strategic questions to consider:5Although sports betting has been legal in some countries for more than a decade,the United States is a relative newcomer,having only opened the door more broa
23、dly to legalization in 2018.In just a few short years,the US market has seen rapid growth,with some type of sports betting legal and active in 31 states and more than US$42 billion of bets placed in the first half of 2022.7 A lot of positive attention has been given to the increased economic opportu
24、nity and fan engagement that sports betting can bring.However,it is also important to reflect on related societal issues,including the potential for corruption,illegal betting,issues with addiction,and financial crime.8 As the US market matures and evolves,actively fostering a healthy customer base
25、and a responsible industry should be encouraged.How are other countries,where sports betting has been around much longer,dealing with these issues?Recent efforts have concentrated on advertising,especially ads targeted to minors and younger gamblers.Some countries are adding additional restrictions
26、to current laws and regulations that dictate when and where sports betting advertising can be seen.Italy banned all gambling ads in 2018 as part of its“Dignity Decree.”9 Belgium is working toward banning almost all gambling advertisements.10 In the United Kingdom,the Committee for Advertising Practi
27、ces has put forward new rules that prohibit any sports betting advertising with a“strong appeal”to young people,even if meant for adults.11 In Australia,as of 2023,all sports betting advertising will have to use a rotating list of seven very candid taglines to discourage problem gamblers.12 The Unit
28、ed States could potentially adopt some of these advertising practices in the future.Currently,states and the industry are driving a wide assortment of risk mitigation efforts around public education,employee training,advertising restriction,availability of problem-gambling resources,and collaboratio
29、n and research.13 Will even broader approaches be taken?For example,a microbetting operator recently banned the use of credit cards on its products and set a deposit limit for customers ages 21 to 25.14 Promotional inducements have been barred in some countries,and there is a proposal in Sweden to e
30、xpand data sharing to better identify problem gamblers.15 It is important to manage potential risks in this space,and the United States may be able to learn from countries with more experience.With concerns over an economic downturn in 2023 and a greater focus on profitability,betting operators shou
31、ld not lose sight of protecting and supporting their customers.How can betting operators work proactively to best ensure the long-term health of both people and the industry?Tackling risks in a maturing sports betting market Strategic questions to consider:2023 sports industry outlook5 What is the b
32、est model to deliver the right balance of economic opportunity and adequate consumer protection?How can operators best focus on customer acquisition and retention while facing the potential for tighter regulations around marketing and advertising?Will increased advertising curbs be effective in disc
33、ouraging underage and problem gamblers?Will there be an increase in collaboration between countries and the establishment of global standards to address societal issues?6Private equity(PE)has taken an increasingly active role in sports over the past few yearswith firms establishing funds and new ent
34、ities being created to invest solely in sports.They are buying shares of teams,leagues,and broadcast rights.Nearly US$60 billion in private equity was invested in sports in 2021 and more than US$30 billion in 2022 through August.16 In Europe,the rules are fairly relaxed for PE involvement.In the Uni
35、ted States,the NFL doesnt currently allow PE firms to invest,but the NBA,MLB,National Hockey League(NHL),and MLS have encouraged it,with guardrails.These can include setting minimum investment levels,controlling the individual and total percentages that PE firms and other institutional investors can
36、 own,and limiting the number of teams a single firm can invest in.17 So why all the interest?PE firms see growth through the increasing value of media rights,new sports betting markets,and for some leagues,possible global expansion.18 Finally,PE firms want reliable revenue streams and solid return o
37、n investmentand in the United States,major sports leagues generally have a higher rate of return than the S&P 500,with some leagues significantly higher.19 Notable recent deals in European football show just how deep PE involvement has become.Chelsea Football Club was acquired by a consortium,led by
38、 Todd Boehly,chairman and CEO of Eldridge,and Clearlake Capital,for US$5.3 billion.20 RedBird Capital Partners purchased AC Milan for 1.2 billion.21 In a distinctive deal,CVC Capital paid 2 billion for a share of the media rights revenue of LaLiga for the next 50 years.22 And the action isnt just in
39、 blockbuster deals:Some PE firms see more upside in smaller teams and leagues,like second-and third-division European football teams,Indian cricket teams,and rugby teams and competitions.23 PEs entrenchment in the sporting landscape brings potential issues to watch out for along with new areas of op
40、portunity.Some of these deals have sparked pushback.24 Fans may worry that investors could put profit above winning,and athletes may ask whether investors have their best interests at heart.If economic times get tough for teams and leagues,will investors try to exert more control to protect their in
41、vestment,to the detriment of competitiveness?There are also risks tying investment to on-field performance.For example,investors in second-tier European football clubs may count on reaping significant financial benefits from getting promoted to top leagues.For opportunities,expect to see more attent
42、ion paid to supporting areas for the sports industrydigital experiences,athlete performance,data and analytics,and sports betting.Also expect to see an even wider variety of institutional investors getting involved in sports,including sovereign wealth funds.25 Private equity and sports:Teaming for t
43、he long term Strategic questions to consider:2023 sports industry outlook What happens when the market becomes saturated and there are fewer“easy”deals to make?What are the consequences for sports organizations,players,and fans of a smaller pool of interconnected global owners?Will PE interest drive
44、 more leagues to look at expansion?How will organizations respond to the expectations that come with outside investment?7Womens professional sports had a record-breaking year in 2022.The levels of interest,attendance,viewership,media coverage,and investment have never been higher.Attendance records
45、were broken around the world.More than 90,000 attended a match between Barcelona and Real Madrid in the UEFA Womens Champions League.26 The Womens Rugby World Cup set a record in New Zealand,selling out Eden Park for its opener.27 The 2022 Womens European Championship reported more than 360 million
46、total viewers for its tournament.28 In the United States,the National Womens Soccer League(NWSL)had almost 1 million viewers for its first championship game in prime time,and the Womens National Basketball Association(WNBA)saw its regular-season viewership hit its highest point in 14 years.29 Womens
47、 professional sports are positioned to advance further in 2023.Ticket sales for the FIFA Womens World Cup,scheduled to play out in Australia and New Zealand in July and August,are already surpassing expectations.30 The launch of the new UEFA Womens Nations League after the World Cup will offer a cha
48、nce for even more exposure.31 Yet,despite all this laudable momentum,womens professional sports still get significantly less attention,investment,and sponsorship than mens sports.What will it take to drive womens leagues to the next level?How can the cycle of investment,promotion,excitement,and enga
49、gement get supercharged?Over the next few years,some critical areas can help catalyze further growth.The media rights deals for the NWSL and WNBA are expiring soonthe NWSL in 2023 and the WNBA in 2025.Both leagues are looking for significant increases and will look to a combination of linear and str
50、eaming providers to maximize their reach and discoverability.32 These deals should provide proper valuations,favorable broadcasting windows,strong production,and substantial marketing to help drive awareness.The leagues could learn from FIFAs recent challenges with media companies underbidding right