Increasing Competition in the Process of Commercialization in the Sports Industry

Abstract

The article provides a preliminary analysis of the development of commercialization in the sports industry in the “pandemic period”. The entire global sports industry is going through difficult times, as many sports organizations (federations, professional leagues and clubs) have lost a certain part of their income. This became especially noticeable when there were serious restrictions on the presence of fans at sports events. Therefore, now many sports organizations have serious financial problems, including such as the IOC, international sports federations, professional leagues and clubs, both in America and in Europe. Although, some sports have only benefited from the global COVID-19 pandemic, for example, chess and cybersports. In the context of increasing competition in world sports for the attention, interests and money of the main consumers, the conditions for the development of different sports will change. Whoever adapts faster to the current factors of intersectoral competition will remain the winner. Although popular sports, such as football, basketball, tennis, boxing and some others, initially have the best starting opportunities for commercialization and increasing their income. It is important for the Russian sports industry to understand the future trends in the development of world sports and intersectoral competition in order to find the optimal balance between economic and sport results. The results of the 2020 Olympic Games in Tokyo allow us to hope that Russia’s sports potential can be developed and improved by competing with other leading sports countries.