Is ‘Career in Sports Management is the future’ just another “career cliché” or is there any truth in it? We find out…
Sports is THE next big thing in India. Few rival the kind of growth that the sports industry has witnessed in the recent while. Factually speaking, the domain saw an overall growth of 15% in 2018, according to Power Sportz. This is significantly higher than the global average of 5%. The rise of private sports leagues, elevated FDI spend, increased Union budget for sports and an array of other factors have led to this epic resurgence of sports in the country. According to Sanjay Gupta, MD of Star India, India’s sports economy would reach the $10 billion mark by 2024.
What is the outcome of a booming economy? JOBS, of course! And who would manage this vast amount of human resources? Sports Managers, indeed! Already excited? This is just the start. Here we explain why a career in sports management can be so rewarding as India ushers into a massive Sports Revolution…
The Indian Premier League Effect
In 2007 something special happened. A dozen of India’s most high-profile personalities assembled to discuss a financially attractive proposition: bank on the country’s never-ending thirst of cricket action and glamorise it with a toss of Bollywood action. The idea was to have a private, 8-team league affair where the best of the world talent rub shoulders with domestic stars. Little did they know that this league they were discussing would turn out to be a multi-billion dollar entity only a decade later.
The numbers are baffling here. 1.02+ billion impressions. $2.55 billion in broadcasting deals. A brand worth over $6.3 billion (according to Duff & Phelps). That is what IPL was all about in 2019.
However, cricket is not the only domain that IPL revolutionised. It basically changed the entire ecosystem of sports in the country. The winning formula of regionally divided, limited teams’ league was copy-pasted in a slew of sports such as hockey, badminton, tennis, football, and even table tennis. While some, like the Indian Hockey League, couldn’t generate the same traction, others like the Pro Kabaddi League and Pro Volleyball League were roaring success.
Not only they brought the hitherto unknown sports to the fore, but also revitalised them altogether. For example, the sixth season of PKL received some 872 million impressions, while PVL was able to generate the highest Time Spent per Viewer (TSV) count of 12.1 minutes.
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The ‘Jio-effect’ (or the cheapening of the mobile data) has further boosted viewership among the younger audience.
More viewers and TSV directly translate into more money being pumped into the sports. In 2014, Star India committed to investing ₹ 20,000 crores in the sports broadcast rights.
Over the past few years, the private leagues have not only experienced enormous success, but they have also scaled up in size and reach. For example, the PBL grew from 6 teams to 9, PVL from 6 to 8, and PKL from 8 to 12.
Long story short: As more and more people are turning towards sports, money being pumped in the industry is going drastically up, translating into more job opportunities.
Other Growth Drivers
While the IPL and Jio did wonders for the economy of popular sports, the government did its part in developing other games.
The launch of the flagship ‘Khelo Games’ is a testimony of the same. With an allocation of around ₹ 1,756 crores for the year 2018-20, the program intends to provide an annual scholarship of ₹ 5,00,000 each for eight years to 1,000 selected athletes. Moreover, the government also promised to promote 20 universities across India as hubs for sporting excellence.
Here are some of the other schemes launched by the Indian government:
The flagship program attempts at assisting India’s top athletes and give them a competitive edge in the Olympics. Under the Scheme, the athletes get recommended for financial disbursements, provide world-class training, and a fixed allowance of ₹ 50,000 amongst several other benefits. TOPS witnessed success at the Commonwealth Games, where 47 out of 70 athletes were supported under the Scheme.
The Central Government formed the National Sports Development Fund (NSDF) to mobilise resources from the Government and non-governmental sources such as the private or corporate sector and non-resident Indians, for the promotion of sports. The scheme aims at attracting funds under CSR activities through a 100% exemption from income tax on all contributions.
In the first-ever budget of its second term, the government announced a separate National Sports Education Board to expand the scope of the Khelo India scheme. The 2019 budget also saw the Sports and Youth Affairs Ministry get a substantial raise of ₹ 214.2 crores from 2018’s ₹ 2002.72 to ₹ 2216.92 crores in the allocation of funds.
The Million Dollar Question: Why is it the Best Time for a Career in Sports Management?
From whatever has been said above, one thing is for sure: Sports is becoming more popular by the passing day with more money being pumped in the sector.
As a result of this, the whole approach towards managing the industry is becoming more mature and organised. As against the traditional practice, organisations today are relying on qualified professionals who know the domain of sports in and out to oversee operations. These operations may be in the fields of administration, media, communication, team/league management, sales and marketing, or sports analytics. Leagues not only need a considerable workforce to manage the fan engagement but also to enhance it.
Moreover, the athletes themselves are realising the need of having a certified expert to manage their career.
This is why Sports Managers are in demand today. Sub-sectors such as sports events, sports marketing and PR, manufacturing and retail, sports grass-root development, need skilled human resources such as managers, consultants, administrators, psychologists, lawyers, planners, economists, coaches, etc.
And who will manage these? Sports Managers, of course!
In short, Sports and sportspersons are increasingly getting dependent on sports managers for daily operations.
It is, thus, unsurprising that the sports industry will need human resources to the tune of 4 million by 2022, according to FICCI Vision Document 2014.
Want to have a rewarding career in Sports Management?
LJ Institute of Sports Management is the place to be in! It has a practical knowledge-based approach towards teaching helps assimilation easy for students. Moreover, its rigorous internship programs make students industry-ready even before they graduate. To know more about LJISM, you can contact on 90990 78640 or visit their website.