Report: Loss of sports revenue due to
coronavirus could exceed $12 billion
Breitbart,
by
Dylann Gwinn
Original Article
Posted By: EQKimball,
5/6/2020 5:37:28 PM
The loss of television and ad revenue from the suspension of sports due to the coronavirus, will end up costing at least $12 billion, according to a recent analysis conducted for ESPN. Those numbers, however, could become even dramatically worse if the college football and NFL seasons are seriously impacted by the virus. “As an economist, you stand back, you look at the carnage that’s taking place — dumbfounded, awestruck, mind-numbing,” said Patrick Rishe, who heads-up the sports business program at Washington University.
Reply 1 - Posted by:
DVC 5/6/2020 5:57:28 PM (No. 403037)
My wife and I had tickets to England and reservations in hotels, rental car, and tickets to a racing event and some track time driving ourselves over there.....all cancelled now. We'll try again next year. It is a pretty good chunk of change that the airlines, hotels, restaurants, race track and driving school won't see this year.
7 people like this.
Reply 2 - Posted by:
LeeBertie 5/6/2020 6:12:52 PM (No. 403050)
Sorry, sports fans, it's just anther form of entertainment. Pretty rich dudes, who may have precious few other marketable skills, playing games to entertain not so rich guys.
And, DON'T EVEN get me started on ESPN!
11 people like this.
Reply 3 - Posted by:
MainelySane 5/6/2020 6:17:51 PM (No. 403054)
Play for free .. without being paid.
5 people like this.
Reply 4 - Posted by:
bad-hair 5/6/2020 6:46:04 PM (No. 403082)
Cry me a big BOOHOO river.
Go throw balls at each other.
You've got your 40 million dollar signing bonuses to entertain your newly UNEMPLOYED fans.
KMA
10 people like this.
If twelve billion will not be spent on sports, where will that twelve billion be spent?
6 people like this.
Reply 6 - Posted by:
Italiano 5/6/2020 7:00:13 PM (No. 403107)
No surprise. There's nothing for me to bet on.
3 people like this.
Some may perhaps be missing the larger point. Those players under contract are going to get their millions anyways. But not the beer guy, the usher, the parking attendant, the soda supplier, the popcorn popper, and so on down the line. Some players have contributed significantly to funds to help defray the losses these people will suffer. Teams have also stepped up. But let's not forget, sports and entertainment is much, much more economically than the players or show folks on stage.
5 people like this.
Reply 8 - Posted by:
EQKimball 5/6/2020 8:43:52 PM (No. 403207)
The Washington Post reports that there are as many as five MLB teams contemplating bankruptcy. Meanwhile, the McClatchy newspaper empire has filed for bankruptcy. McClatchy owns the Miami Herald, the Kansas City Star, the Sacramento Bee, the Charlotte Observer and 25 other daily papers in 14 states.
6 people like this.
Reply 9 - Posted by:
proactus 5/6/2020 9:10:36 PM (No. 403225)
My cable fees have not gone down with the lack of live sports content. It was my understanding that most cable networks are funded by these fees. If the sports networks aren’t paying the rights fees, why should I?
6 people like this.
Reply 10 - Posted by:
stablemoney 5/6/2020 10:34:01 PM (No. 403284)
I am still trying to get over the 4 year $80 million dollar contracts. I am not sure I can summon any concern about the sport's industry's revenue loss with that kind of money to spend.
6 people like this.
Reply 11 - Posted by:
JL80863 5/7/2020 1:04:36 AM (No. 403376)
Something about every cloud having silver lining.
2 people like this.
Somehow in the list of importance, I will bet getting a haircut tops watching sports. Not into sports and still don't understand why they are paid more than a brain surgeon.
3 people like this.
Reply 13 - Posted by:
Trigger2 5/7/2020 2:18:32 AM (No. 403409)
Are the demonrats designating them for a massive bailout too? Where's all this money coming from?
1 person likes this.
Reply 14 - Posted by:
Strike3 5/7/2020 3:25:02 AM (No. 403420)
My little violin has been getting a real workout for a couple of months. I might even get good at it.
2 people like this.
Reply 15 - Posted by:
paral04 5/7/2020 9:10:06 AM (No. 403645)
I would rather have access to my doctor than watch some idiots throw a ball around.
1 person likes this.
Reply 16 - Posted by:
jacksin5 5/7/2020 9:33:44 AM (No. 403668)
But the PBR continues! Ride 'em Cowboys!
0 people like this.
Reply 17 - Posted by:
or gate 5/7/2020 2:11:35 PM (No. 404000)
Quit crying NFL.
You did it by yourself allowing no respect for anyone or anything.
1 person likes this.
Reply 18 - Posted by:
JimBob 5/7/2020 11:21:20 PM (No. 404485)
I'm with Miss Ann Thrope (#5).
Just think of all those people still having all that money in their pockets, money that they did NOT spend on 'sports' entertainment.
0 people like this.
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Comments:
Transportation, travel and entertainment sponsors will not come back until social distancing ends. Ditto for truck and auto sponsors. How do you sell most new cars without sitting in the backseat to answer questions while the customer takes a test drive?