In: Finance
Explain how increased technology has aided sports organizations in minimizing expenses.
increased technology has aided sports organizations in minimizing expenses in the following ways.
1. There is a high media coverage- due to which there is more sponsorship available. A person sitting in India can watch sports in the US any time- anywhere through OTP platform. OTP platforms are paid a subscription and hence creating a steady revenue doe sports.
2. Buying Tickets has become hassle-free. Before it a headache for both Seller and buyer. Now a person can easily buy a ticket with few clicks on a phone. Bringing down expenses of selling tickets.
3. Due to technology, the advertisement expenses to promote a
league has come down. Bringing in more people at a comparatively
cheaper price than before.
Ex: pro kabaddi league of India. An advertisement was done by OTP
platforms, Internet etc.
4. Technology has decreased the medical and fitness expenditure on
the team/players.
Smart types of equipment like smart helmets are able to displace
the force on impact very much effectively, thus lowering the
chances of head injury.