Sports and Money

Today's sports industry and the media collaborate in many events to earn big amounts. Sports marketing is an element of sports promotion, which includes a wide variety of sectors of the sports industry like broadcasting, advertising, social media digital platform, tickets sales, and community relations. Social media is used as a tool for global communication and interaction channel, which changes the traditional business-customer relationship. Media will also help athletes and sports federations to earn a lot of money through the media. 

Today the sports people are earning a lot of money in many ways, media is one of the ways to earn money. Social media is the biggest way to earn money through different social applications like Facebook, Instagram, Twitter, and YouTube. Professional athletes have millions of fans on social media so athletes use to post their videos, their pictures, and other professional things which are liked by their huge number of fans. The very famous footballer Cristiano Ronaldo command $303,900 per tweet. The reason he can get this money is because of his 21 million followers on his social media for Twitter only. If he earns this much from Twitter he definitely will earn from other social accounts. YouTube is a very commercial app for professional athletes to make money when they will create Vlogs. 

Another way to earn money from media is the advertisements. Many brands collaborate with the top athletes to promote their new arrivals like Nike, Adidas, Polo, etc. The brands will then pay a handsome amount to the athletes for their promotions. We use to watch the advertisements for different items. Shahid Afridi used to advertise different energy drinks and other players have other ads. 

Athletes earn more money when they will play in the leagues. As we know the fans love to watch their favorite players so media companies will give more money for athletes to participate in different leagues. 

Many professional players have their brands, they earn a lot from that as well. There are many several ways through which athletes will earn money. 

TV channels will invite players for talk shows, sports programs, and other fitness-related programs. They pay the athletes for the programs according to the time they spent in the program. 

Sponsorships are probably the most common way that athletes envision themselves making money outside of their sport. The ability to promote a company’s product and get paid to do it frankly seems easy. Though there are a lot of things that go into sponsorships and endorsements, especially on the creative side, athletes can use their relevance and awareness to partner with brands that align with what they believe in. In turn, athletes can receive revenue through social media posts and other forms of content creation.

Athletes are highly respected in the communities that they play and live in. People want to see athletes getting involved in the community and giving back. Speaking and making special appearances are great ways to do both of those things. Organizations and companies will pay athletes to come out and speak about their experiences or athletes can give keynotes at a charity event or school. Athletes can even organize their events and meet & greets to have people come out to get autographs, and pictures.

On the other hand, sports federations like FIFA, ICC, and other sorts of federations, its governing bodies earn a lot of money from the media. When the media companies will buy the broadcasting rights from the federations they pay a big amount for concerned sports federations. 

Another way to earn money is again the social media applications. Sports federations have social media accounts like Facebook, Instagram, and tweeter. They then post on their social accounts and their followers will help them to earn a massive amount. The sports federations also have youtube channels where they show live events, which will attract the fans to their youtube channel. This is how media helps to earn money by the sports federation in today's developing world. 

Sponsorships are another ways to earn money. The top brands will collaborate with different sports organizations to work with them.