all over the world Football is the most lucrative sport. With global rotation d47 billion dollars, It represents 28% of the trading volume generated by sports In the world. Europe is the richest stage at the international level, but in the seasons 2019-2020 and 2020-2021, clubs in the top European divisions recorded a total loss of -7 billion euros in terms of revenue. However, according to the authors of the research, the numbers will rise again: until 2025, the average annual increase in the number of European spectators will be +8% (+ 37.7% if we consider the calculations by 2030).
Football is the most lucrative sport
This is what the research showed “Sports commerce in Italy. The World Cup in Qatar and new horizons between esports, cryptography, NFT and the metaverse” Posted by Rome Business School To analyze the football market on a global level with a special focus on the Italian reality, critical issues for the football industry, the impact of the pandemic, reducing the number of spectators, members and players especially among the youth,The absence of the Azzurri from the Qatar World Cup 2022. Role highlighted Cryptocurrencies, NFTs, eSports platforms and the metaverseused today by sports clubs small and large, to highlight best practices and techniques that can get them going.and the sports industry in Italy.
Research shows that football It is undoubtedly the most watched and practiced sport in the world Italia: It is preferred by 31% of Italians, the European average is 27% (FICG, 2021). Here, football generated €78.8 billion in revenue, a figure equivalent to 3% of Italian GDP (Sport System Observatory, 2022). Despite this, it is an industry that suffers: in the 2020-2021 season, 92.4% fewer matches were played than in 2018-19, resulting in a €7 billion decrease in revenue, of which tickets (4.4) and sponsorship and commercial activities (1.7) TV rights and UEFA revenue (0.9).
Regardless of the pandemic, Italian football still exists today critical issues Not really addressed such as excessive debts by most clubs (€5.4 billion, +3.5% compared to 2019-20 according to FIGC, 2021), aging infrastructure, match-day marketing strategies, and a dearth of inclination to innovate and experiment with virtuous foreign practices such as Naming rights, the inability to establish and nurture direct contact with new generations, who are increasingly fascinated and engaged in the use of new immersive technologies.
The absence of the Qatari team from Qatar
The absence of the Azzurri is considered to have disastrous consequences for the economy and for Italian football, considering that the victory in Germany 2006 caused +1.9% growth in GDP and that the World Cup in Qatar could have resulted in the Italian Federation, if a winner, gross revenues not less than $45 million. And with the calculation that the value of the national team today is estimated at about 93 million annually and that from 2023 it will increase to 102, its value could have been higher in the event of qualification for the Qatar Championship. Not only that, Italy will see a decline in revenues from commerce, television broadcasting rights and the consumer and sports betting sectors: on the occasion of the World Cup in Qatar, the estimate of the related activities generated was close to 300 million euros in bets, of which 45 million were only in the matches played by the Italian national team, which His audience has historically been more than 10 million viewers.
World Cup numbers
This would also be the richest release ever at an approx cost 467 million euros Spending by the Qatari government on a weekly basis in preparation for the World Cup has reached a record $220 billion spent, higher than the sum of all World Cups held up to 2018. Ranking ($15 billion), ruthless: spending in Qatar It is approximately 15 times higher. To cover these expenses, not only sovereign wealth funds take over the field, but also sponsors, such as Emirates Airlines, Etihad Airways and Qatar Airways, They all have major deals with European football clubs worth millions of dollars. Alessio Postiglione concludes, “The Qatar World Cup is a typical case of the role of football as a tool of soft power and of global football competitions as a tool of increasing visibility.” Prices for attending matches are also growing, especially for those who are going to watch the final: they rise from 995 euros in Russia to 1400 euros for Qatar, about 40% more.
Crypto, NFT, and Metaverse: the winning ingredients
The value of sports sponsorships by companies associated with the cryptocurrency sector exceeded $1.5 billion worldwide between January 2021 and June 2022 alone (Bankless Times, 2022). From Juventus with Bitget to Lazio with Binance, comp exchange An ever-increasing role in Italian football sponsorship: In the 2021-2022 season, the cryptocurrency sponsorship market for Serie A match shirts reached €335 million. A market dominated by commercial sponsors (brands such as airlines), which account for 69%, which equates to 230 million euros, and technical sponsors (clothing brands) with the remaining 31%, which amounts to 105 million euros. The growth compared to the 2020-2021 season – which recorded 170 million – was + 35.3%.
Among the tools encryption sector, The digital assets that enjoy the greatest success are Fan codes Specific cryptocurrencies thanks to clubs from various sports disciplines that can interact with their supporters. I 156 litersand sports organizations in the world that have launched a fan token or signed agreements with companies in this sector, and the most traded tokens are those of Manchester City (13.4 euros), Paris Saint-Germain (12.9 euros), and Inter (7.6 euros). A leader in the sports sponsorship industry, Crypto.com remains the official sponsor of the 2022 FIFA World Cup.
According to Tommaso Marazzi, one of the authors of the research, If the key to success in marketing is customer loyalty, In the current sports panorama, the secret lies “Token” fansurging them to buy fan tokens in order to enjoy the right to actively participate in the life of the club.” Thus, the reason for the cooperation between cryptocurrency clubs and companies is the direct result of a trend that has its roots – in part – in the economic crisis generated by the pandemic. “On the one hand, I club They have a strong need for liquidity and economic / financial resources, on the other hand, companies in the crypto sector must find a way to make themselves known and the world of sports, especially football, is an offer that guarantees space and visibility on a global scale,” says Marazzi.