Sports Business Research Report

Question: Writeabout theSports Business Research Report. Answer: Introduction Sports can be used in different ways on the basis of the context it is using. The fields on which sports can be used are generally sociology, physical education, and recreation. Sport is used in management field also which is called the sports management. Now- a -days, the business field of the sports is also flourishing to a great extent (Gamble, Brennan McAdam, 2017). On the contrary to sports industry, the scope of music industry can be discussed. Music industry consists of different companies and individuals that can earn money by making new songs and albums and pieces and selling live concerts and shows in different places of the world (Hammond, 2014). Discussion The music industry consists of a range of professional people who includes singers as well as musicians who are very talented with their music careers. In this business several managers are also required who can monitor the different programes which occur in the different places. In this industry, several other people like music journalists, music critics, DJs and music educators are also present. Apart from this fact, the people who work in the music industry make huge profit and play an important role towards the development of the particular organization. Among the different individuals who work in this particular organization include the songwriters, composers who write and compose new songs (Lebler Weston, 2015). Apart from them various types of other individuals are also present who are the conductors, bandleaders, performers, who performs these songs at different concerts and music events to entertain people (Lee, Jang Hwang, 2015). Someone may think sports business may refer to sell items related to sports. It might include business which can contain so many other industries which can sell different kinds of other items as well as other services. The various types of business those are included in this field are marketing research, tourism business, ski packages, etc (Li Qian-hong, 2015). The sports industry mainly refers to a market which can provide various sports related products and services to its buyers. The products may be fitness, leisure, recreation related items. Here, are some of the examples can be given which are very apt for this industry and are discussed as follows: Sports can be a type of spectatorial product or can be a participation product as in case of womens recreational basketball league. Sometimes, different types of machines and apparels are needed as a part of a sports or fitness activity which needs to be used in a perfect manner (Parry, Vendrell?Herrero Bustinza, 2014). On the other hand, promotional merchandise can also be part of sports product which is mainly used for different types of promotional activities like sports league, sports events, etc (Sinnreich, 2013). Sport facilities are different types of sport products which are required for producing sports such as the making of a new sports stadium or remodeling the old stadiums or redesigning old basketball courts etc. Different types of sports industries offer different kinds of sports services like tennis racket stringing, golf course care , etc which are very necessary in day to days life (Stan Anton, 2016). Sometimes, recreational activities are also promoted with the hel p of participation products such as bicycling, hiking, camping, etc. Findings In this report, the two businesses and industries which are selected are sports industry and music industry. The sports industry is a huge industry and it covers an entire field of business where people not only sell goods or services related to sports but also several other developments which can be done in the infrastructure of the sports. It includes selecting new talents from various parts of the country and appoints them in the team and provides them the right kind of training such that they can play well (Weston, 2015). On the other hand, in the music industry there are several talented people who can compose songs and music for the entertainment of people. Not only are these people there other people who are also present to ensure the smooth operations of all the activities which are occurring in this field. Nonetheless, they make a huge income out of this entertainment industry as well. There are several studies have been conducted in order to place a dollar value or economic impact on the several businesses of the sports industry. Studies have proved that, the size of the organization plays a vital role on the different factors which are included in composing the industry (Wikstrom, 2016). It has also been found out from the year of 1986 to 1988 this industry has grown in size at an average rate of 6.8% which is quite good. In various other studies, it has shown the fact that in the year of 1995; this industry has grown up to a $152 billion dollar business which represents an increase of 242%. The music industry can work in different ways which are written as; publishing a music or track can be way in which a particular music company gained the income from different ways of sources. Publishing on television or movies can be another way from which income can be generated. Factors like publication, advertisement play vital role in case of operations of both the busin esses (Zhang, Yu Zhang, 2016). There are several factors in which both the business are different in different aspects. The basic requirements and strategies which are required for the growth of both these businesses are different from each other. The sports business differs from music industry in different aspects like sports industry is a recreational industry and music industry is an entertainment industry Conclusion There are different types of aspects which are discussed in this report which plays an important role in both the sports as well as in the music industry. Sports industry includes various other kinds of activities and businesses which are already been discussed. There are several factors of growth as well which are also discussed. The music industry differs from the sports industry in different aspects, those aspects are also been discussed in an elaborative manner. Reference List Gamble, J. R., Brennan, M., McAdam, R. (2017). A rewarding experience? Exploring how crowdfunding is affecting music industry business models.Journal of Business Research,70, 25-36. Hammond, R. G. (2014). 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