Recently, the sports management MBA has started to become more and more popular. Not only is it a growing industry, but it is also a unique subset that fascinates many MBAs. The DeGroote School of Business at McMaster University understands this growing fascination and recently moderated a lively panel at Toronto’s Real Sports Bar & Grill to talk about the top three trends in Sports Management. The results were shared on the DeGroote Blog.
The panel included:
- Jonathan Carrigan, senior director of business intelligence & platforms at Maple Leaf Sports & Entertainment.
- John Levy, chairman and CEO of theScore.
- Glen Grunwald, director of athletics & recreation at McMaster and a former MBA executive.
Trend 1: Predictive Analytics in Sports
A few years ago, predictive analytics were brand new to sports. However, now, it’s become commonplace and today’s professional sports teams are taking it to a whole new level. And, it’s definitely having an impact. Predictive analytics:
- Maximizes ticket revenue by analyzing fan preferences and behaviors.
- Reduces recovery time and injuries for athletes.
- Provides detailed video analysis of athlete technique for refinement and improvement.
Trend 2: Smart Arenas
A new way to watch sports live is the smart arena. While it’s great to be able to watch your team in person, today’s fans want more with their live in-game experience. At smart arenas, fans have access to instant video replays, food and beverage ordering options, location-based advice, live statistics on player performance and crowd-sourced tactical advice from fans.
Trend 3: eSports
As of recent, sports fans aren’t regulated only to watching the game; they can join their own team through e-games like League of Legends. Massive tournaments with these popular games have been hosted at sold-out stadiums across the U.S. and Canada, and the atmosphere is electric. In fact, these events have become so popular that, before long, it wouldn’t be surprising if, one day, eSports scholarships were offered to incoming students at universities.
Even professional sports organizations across North America are beginning to jump on the eSports bandwagon. In late September, the Philadelphia 76ers became the first professional team to accrue ownership of an eSports team, purchasing Team Dignitas and Team Apex. The organization will be merging both teams, according to CNN Money, which plays League of Legends, Counter-Strike: Global Offensive, Overwatch, Heroes of the Storm and Smite.
The revenue of eSports has exploded in just a few years, sparking the organization’s purchase. Current estimated revenue value of eSports is around $500 million USD.