The Sports Industry Growth Accelerates Job Opportunities
Sports are deeply ingrained in the culture of our country. From college sports to the ‘Big 4’ professional sports leagues, and from the Olympic Games to the football World Cup, there’s something about this sweat-inducing, adrenalin-pumping activity that captures the collective imagination of the nation.
But what we sometimes forget is that sport is also a big business in our country much like it is across the world.
The Big 4
According to Plunkett Research, Ltd., the leading provider of industry sector analysis and research, the combined annual revenue of the ‘Big 4’ leagues in America – National Football League (NFL), National Basketball Association (NBA), National Hockey League (NHL), and Major League Baseball (MLB) – is a whopping $23 billion!
Billion Dollar Baby
Include the revenue that comes from selling sporting equipment, licensed merchandise, sporting goods, ticket sales, sports-related advertising and endorsements, and you have the ingredients that add up to create a multi-billion dollar industry.
Given how huge this industry is and the variety of sectors it encompasses, it should hardly come as a surprise that a significant portion of the workforce in countries like ours derive their livelihood from sports-related professions.
It’s not just the athletes, officials, coaches and scouts, umpires and referees, and those working in sports equipment stores and sporting and recreational facilities we’re talking about. The burgeoning growth of the sports industry has accelerated job opportunities in fields like ‘sports administration’ or management, too.
Sports Administration – The new career on the block
While there is a tendency to mix up sports administrators with agents and managers who represent professional athletes, the truth is far from it.
The truth is that with the sports industry growing at the pace that it is, a plethora of new opportunities have opened up in the realm of ‘sports management’. There are a whole lot of career paths that sports administrators can choose from (depending on their individual interests and skill sets).
Sports Management Education
Universities and colleges across the U.S. have been quick to latch on to the immense opportunity presented by the growth in the sports industry by offering both undergraduate and graduate-level courses as well as MBA degrees – with concentration in sports management– to interested candidates.
According to this article appearing in Chicago Tribune, the number of sports management programs rose from 20 in 1980 to 300 in 2010 in the U.S. alone (with 25 to 35 being available at the Master’s level).
The aim of these degrees is to arm students interested in making a career in sports administration with industry-specific knowledge that gives them a competitive advantage over those who have a more generic educational background.
The M.Ed. in Sports Administration offered by Concordia University Texas is an effective tool for students to turn their passion for sports into a lucrative career. By focusing on various facets of the sports industry (including human resource management and sports law), the online M.Ed in Sports Administration program provides graduates the skills needed to succeed in the sports industry.
According to a report published by PwC, the global sports industry could reach $145 billion in terms of revenue by 2015. Another PwC report that looks specifically at the North American sports market predicts that the industry will grow from $56.9 billion in 2013 to an unprecedented $70.7 billion by 2018.
It’s time to ask yourself if you’re ready to be part of this electrifying and promising industry on a continuous growth trajectory!