A new infographic from Top Business Degree explores an element of the sports industry that so many have questioned throughout its years of success: the money. The American Sports industry is worth around $422 billion and creates more than 3 million jobs in the United States. Needless to say, it is key to our economy.
Each year, as a whole, the industry spends $27.8 billion on advertising. Four specific groups make up the bulk of this: NFL ($9 billion), MLB ($7.2 billion), NBA ($4.1 billion), and NHL ($3 billion). The NCAA and Nascar also make a huge splash coming in at fifth and sixth, contributing approximately $757 million, and $645.4 million. All other sports fall into an average of $31.4 billion. Sports associations, however are not the only groups bringing in the big bucks. We often forget about health clubs (which bring in around $20.3 billion), recreational sports, and sporting goods – these businesses consistently stimulate the economy by creating jobs and consumerism.
While the infographic does an excellent job of describing the sports professional, they do not discuss the salary possibilities of these folks or job titles. Another interesting element they leave out is how much an athlete makes a year, and their probable life-span in the industry – this is possibly intentional, since it tends to be a controversial issue. It does, however, describe four key areas of becoming a business professional: the type experience you will need, the biggest challenges to be aware of, how to reach goals (via networking, mentoring, social media, etc.), and the desired training needed if you expect to move up.
The American public is very loyal to their sports teams, which means that there is no end in sight when it comes to the success of these organizations and those surrounding them who are making things happen. There are also a lot of possibilities for the advertising, marketing, and PR professionals. Those who have a focus in sports may find themselves making a generous amount of money, but as the infographic shows: networking is everything. Knowing people in the industry, having solid mentors, and a positive on and offline image is key to succeeding – unless you are an impeccable athlete.