Two Circles Report: Global Sports Industry to Hit $260 Billion by 2033
Report focuses on multiple areas of key growth
Posted On: March 12, 2024 By :The sports consultancy firm Two Circles has released a report saying the global sports industry will grow to $260 billion by 2033, a dramatic increase on the current $159 billion in revenue generated by sports intellecutal property owners.
The Two Circles report — available as a downloadable magazine — comes in part from its work with more than 400 sports properties around the world.
“Sports fans are consuming more sport, the experiences are becoming more varied, and the economic models are becoming more sophisticated,” the report reads in part. “We believe that any growth in the popularity and consumption of sport is a positive. At a micro-level this means sports IP owners can invest in fan experiences. While at a macro level it means that sports become more central to the media industry, sports sponsorship becomes a greater priority for brands, and sports become more of an asset to governments and NGO’s in stimulating positive societal change.”
The publication says three primary levers would drive growth. The first would be the value of sports IP as global fan bases expand and consumption patterns deepen, with the second being evolving offerings that present varied experiences to broader demographics. The last would be sports leagues and properties leveraging relationships with their fan bases and business partners.
Three silos that the firm also sees expanding in the coming years is evolving opportunities in media rights; increased awareness in college and women’s sports and NIL’s influence.
“By knowing fans best, sports organizations will build better sports products, experiences and opportunities, creating better value for everyone,” said Gareth Balch, chief executive officer and co-founder at Two Circles. “Ultimately, the fans will be the real winners of this exciting growth in years to come.”
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