47% Of Sports Events To Be Cancelled Worldwide Due To COVID-19 Spread
From laborers to big business tycoons, the novel Coronavirus has hit everyone that has anything to with the economy. Economists are expecting the hit to be more severe than the great world depression of the 1930s. Such is the impact of the pandemic that even non-economic sector like sports is facing the heat now.
A report published by a sports marketing agency cleared that forty-seven per cent of all the sports events that were supposed to be organized in 2020 will be cancelled due to Coronavirus.
Two Circles is a sports marketing agency based in the United States. Its work involves mainly heavy data mining in the sports sector. The agency published a report on Monday, 20 April 2020, in which it portrayed the impact of Coronavirus outbreak on the Sports sector in 2020.
According to the report, 49,803 events were supposed to be organized in the whole year, from January to December. But the virus took a heavy toll, and the number got reduced to 26,424 with a steep fall of 47%.
Given that the agency’s area of expertise is sports data analysis, it has published the sports data of the whole year, even month-wise and country-wise. The most affected period when the events will be cancelled is March to August.
In March month, 4,246 sports events were supposed to be organized. But out of these 4,246, only 1,800 could take place. The period of April to June was supposed to be filled with 16,000 events, out of which 15, 824 have already been cancelled.
Coming to the economic effect of these canceling on the sports sector, the total earning of the industry in the financial year 2020-21 was supposed to be $135.3 billion. But now that much of the events have already been cancelled; the industry will earn only revenue of $73.7 billion. In the last financial year of 2019-20, the sector earned $129 billion.
The leagues that will face the hardest repercussions are, of course, the usual suspects like MLB, NHL, NFL, MLS with NBA as the leading one. The sports sessions of the NBA and NHL have already been started, but they were shutter down with the government’s orders.
Coming back to India, the 13th edition of our cricket league- Indian Premier League (IPL)- was supposed to be organized in March this year. But, after the outbreak, it was postponed to 14 April. As the situation is not any better than March, it has again been delayed to October. But the insiders are speculating the IPL won’t be happening this year.
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