International Journal of Social Science & Economic Research
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Title:
ECONOMIC ASPECTS OF SPORTS AND ENTERTAINMENT

Authors:
Adhyan Kapoor

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Adhyan Kapoor
Jayshree Periwal International School

MLA 8
Kapoor, Adhyan. "ECONOMIC ASPECTS OF SPORTS AND ENTERTAINMENT." Int. j. of Social Science and Economic Research, vol. 8, no. 10, Oct. 2023, pp. 3282-3294, doi.org/10.46609/IJSSER.2023.v08i10.019. Accessed Oct. 2023.
APA 6
Kapoor, A. (2023, October). ECONOMIC ASPECTS OF SPORTS AND ENTERTAINMENT. Int. j. of Social Science and Economic Research, 8(10), 3282-3294. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i10.019
Chicago
Kapoor, Adhyan. "ECONOMIC ASPECTS OF SPORTS AND ENTERTAINMENT." Int. j. of Social Science and Economic Research 8, no. 10 (October 2023), 3282-3294. Accessed October, 2023. https://doi.org/10.46609/IJSSER.2023.v08i10.019.

References

[1]. MLB: 1909: Baseball-Reference.com 2023: Spotrac.com NFL: 1940: Pro Football Hall of Fame 2023: OverTheCap.com According to Spotrac, Stephen Curry earned $45.8 million in the 2022-23 season. He is the highest-paid player in the NBA.
[2]. The minimum salary for a player with no NBA experience in the 2022-23 season is $953,000. the average salary for an actress in 2023 was $46,900 and the average salary for an actor in 2023 was $63,400 is ZipRecruiter.com.
[3]. Coates, D., & Humphreys, B. R. (2007). The elasticity of demand for professional sports tickets: Evidence from Major League Baseball and the National Basketball Association. Journal of Sports Economics, 8(3), 235-254.
[4]. The Atlantic: "How Streaming Giants Are Changing the Entertainment Industry"
[5]. Forbes: "The NFL's International Growth Strategy" According to Fortune Business Insights, the global VR market is expected to reach $50.1 billion by 2028. This represents a CAGR of 27.5% from 2023 to 2028.
[6]. US Bureau of Labor Statistics, "Occupational Outlook Handbook: Sound Engineering Technicians and Radio Operators" (2022)
[7]. NFL: SportsPro, "NFL viewership increases 10% in 2022, thanks to streaming" NBA: Sports Business Journal, "NBA regular-season viewership up 15% in 2022"
[8]. Human Rights Watch, "Sochi Olympics: A Cover for Repression and Abuse" (2014 Oxford Economics, "The Economic Impact of the London 2012 Olympic and Paralympic Games" (2017) Grand View Research, "Sports Sponsorship Market Size, Share & Trends Analysis Report By Sponsorship Type (Broadcast, Digital, Stadium/Arena, Other), By Region, And Segment Forecasts, 2023 - 2030" (2023).

ABSTRACT:
The sports and entertainment industries, economic powerhouses, wield substantial global and regional influence. This study delves into the economic dimensions of the sports and entertainment industries, focusing on player salaries, ticket pricing, and the impact of major events like the Olympics or World Cup. Despite the complexities and evolution of these industries, the paper highlights their enduring relevance within economic analysis. It explores three fundamental aspects of these industries: player salaries, ticket pricing, and major events. It considers the historical context, industry-specific pricing strategies, and the economic implications of hosting major events. The paper emphasizes the interconnectedness of these elements in shaping the economic landscape of sports and entertainment, underscoring their pivotal role in influencing global and regional economies.

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