Sports and entertainment are back
Thanks to the cable cutter trend that has erupted in recent years, people have drifted away from cable television to streaming services like Apple, Netflix, and Amazon Prime. While it’s nice to be able to watch your favorite show on-demand and with no ads, one area where these services aren’t enough is live sports. This has led to the creation of streaming services exclusively for sports.
These services were going well until COVID-19 hit in March 2020. When the NBA and NHL suspended their seasons, sports fans were unable to enjoy live games for the first time since World War II.
Live sports eventually returned a few months later, but it wasn’t the same – the teams played in arenas and baseball stadiums with empty or sparsely filled seats. This resulted in a huge hit for the bottom line of the sports leagues. Sure, they were still generating income from TV deals, but when fans weren’t around, they were damaging their finances. Some leagues, like the CFL, even had to cancel their season, while others, like the XFL, were completely canceled.
With the start of the NHL playoffs in May 2021, fans in Canada were finally able to attend games with partial occupancy. This created a huge demand for the limited edition cards that were made available. When the Toronto Blue Jays returned to the Rogers Center after an almost two-year absence in late July 2021, tickets quickly sold out. In addition, there has never been such a demand for Leafs and Raptors tickets for the preseason, as the seats sold out almost immediately.
Ticket sales are likely to increase as governments lift capacity limits on venues. Sports teams have also improved their game when it comes to digital content. This attracts more fans who buy more merchandise and generates more revenue for the sports companies.
The demand for concerts and other entertainment events is also increasing. Fans are grabbing seats like never before, trying to enjoy life as it was before the pandemic. Some event bookings have turned out to be premature – for example, several major musical acts canceled their shows this summer because they had concerns about the Delta variant – but concert promoters are already planning tours for 2022.
The rise of e-gaming
E-gaming has seen dramatic growth in COVID times, which makes perfect sense – at the start of the pandemic, everyone was told to stay home. Staying is only fun until you run out of things. (You can only watch so much Netflix.) This is where e-gaming comes in.
Before we go any further, let’s define what e-gaming is. E-gaming (or eSports, as it is often called) is the abbreviation for “electronic gaming”. At its core, it’s a video game competition.