ALMOST HALF OF ALL 2020 SPORTING EVENTS 'UNLIKELY TO BE HELD'

Source:China Sport ShowRelease time:27-Apr-2020Clicks:

Article From：Sportsindustry.biz

Almost half of the sporting events scheduled for 2020 are unlikely to take place this calendar year, according to projections from sports marketing and technology agency Two Circles.

As of 20th April, Two Circles models – which update each day based on changes in the rate of coronavirus infections and confirmed scheduling alterations – show that 26,424 events are now due to be held by the end of 2020. This is just 53% of the 49,803 events anticipated, meaning 47% are now unlikely to take place.

As a result of the postponements and cancellations, the agency estimates that the global sport industry will generate $73.7bn in revenue in 2020 – down $61.6bn from the $135.3bn projected before the pandemic.

That would also represent a downturn from the 2019 figures, when the global industry generated $129bn in revenue. Two Circles says it had anticipated the industry would grow by 4.9% year-on-year before the pandemic hit.

Gareth Balch, Two Circles CEO, said: “Sports properties are keen to return as soon as possible as the longer the sports calendar is on hiatus, the worse the financial impact will be. However, sport should – and will – only return when it is deemed safe to do so, and with the support of all relevant government and medical authorities. Even hosting sport without crowds poses a complex challenge.

“Compared to most other industries, in recent times of economic adversity sport has proven to be recession-resilient. Whilst live sport is halted, every corner of the sports industry will continue to feel this significant financial pain, but we are certain that it returns, whether that’s behind-closed-doors or with full houses, sport’s economy will thrive once again.”

According to Two Circles’ modelling, a staggered return of live sport in 2020 will see a spike of events in September (5,467) as leagues and event organisers adjust their fixture schedules.