Chapter 2. Sports and Entertainment Economics. Sites. Top revenue producing movies The cost of making Spiderman. Profit Makers. What is Profit ? the amount of $ remaining from revenues after all expenses are paid. Revenue: $ a business receives from the sale of goods and services.
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Sports and Entertainment Economics
Home video and international box-office sales are sometimes larger sources of income than US ticket sales.
Studios seek out partnerships with rival studios to help produce, promote & distribute films.
Movie studios, sports teams, sports venues, and the various media companies are ALL in the business to make $$$$.
Use for Sports Marketing discussion about risk...
http://abcnews.go.com/US/texas-rangers-lower-flags-create-fund-fan-fell/story?id=14025751 (Texas Ranger Fan)
http://www.huffingtonpost.com/2011/08/22/fans-fight-49ers-raiders-ravens_n_932795.html (NFL fight)
http://abcnews.go.com/US/slideshow/indiana-state-fair-stage-collapse-14302448 (Indiana State Fair pics)
http://abclocal.go.com/wls/video?id=8305742 (Indiana State Fair video)
Who, if anyone, is to blame?
What preventative measures should be taken?
Kinds of risk?
1. Natural Risk
2. Human Risk
3. Economic Risk
Gain or Loss Risk
*Marketers must develop risk strategies.
*Careful planning is required to prevent financial loss and personal injuries.
1. Risk Avoidance
2. Risk Insurance
3. Risk Transfer
4. Risk Retention
List four steps a sports venue could take to avoid risk of injury to fans attending games.
ESPN's Outside The Lines: South Florida Youth Football Stands Teeming With Gamblers
By Gus Garcia-Roberts, Tue., May 3 2011 at 10:13 AM
ESPN's Outside the Lines spent some times in the stands watching South Florida Youth Football League games-- which feature 30,000 kids aged 5 to 15 from Palm Beach to Miami-- and emerged with a pretty stunning short documentary on how gamblers have turned the matches into their own personal cockfights.
From a coach confronted with footage of him exchanging money, to brawls breaking out in the stands, to young players stashing hundred-dollar bill graft payments in their uniforms, the evidence here is beyond damning. The league's website now has an alert about gambling, saying that any coaches caught gambling will receive a "lifetime ban".
Gambling in Youth Football
Gambling Follow Up