As I write this column, it's Major League Baseball's Opening Day. I have a friend who runs a marketing firm who closes his entire business operation today in recognition of fresh starts, new beginnings and hope springing eternal. And, of course, he takes his kids to the Orioles game if they're playing in Baltimore. (As a trade off, the business is open on President's Day.)
He even wrote a column in the Baltimore Business Journal a few days ago making the argument why MLB's Opening Day should replace New Year's Day as the time to make resolutions, and you know? I think he's onto something. Opening Day is hope, optimism and fresh starts, three things we're in need of right now.
But perhaps the bigger takeaway, for me at least, is the blending of sports and business these days. And it makes complete sense, since sports is such big business these days. In our Game On! cover story this month, business writer Eric Krell takes a good-hard look at consulting and sports. It's a topic we haven't covered all that much, but as professional sports has become big business, so has sports consulting. Franchises are turning to consulting firms—some with their own sports practices—to assist with everything from attendance and analytics to promotion and player evaluation. It's a whole new ballgame.
A 2016 PwC Sports Outlook report puts estimates the North American sports market at about $64 billion, and says it will reach some $76 billion by 2020. That's a home run and a slam dunk for consulting firms with the right playbook to capitalize on the opportunity before them.
Those consulting firms poised to capitalize—just like all 32 Major League Baseball teams on Opening Day—can be optimistic about the year ahead. The others? Well, it looks like they may have to just wait 'til next year.
Joseph Kornik Publisher & Editor-in-Chief jkornik@alm.com
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