This U.S. industry comprises (1) independent athletes, such as professional or semiprofessional golfers, boxers, and race car drivers, primarily engaged in participating in live sporting or racing events before a paying audience; (2) owners of racing participants, such as cars, dogs, and horses, primarily engaged in entering them in racing events or other spectator events; and (3) establishments, such as sports trainers, primarily engaged in providing specialized services required to support participants in sports events or competitions.
In the "Other Spectator Sports" category under NAICS 711219, several qualitative trends have emerged, reflecting the evolving landscape of this industry. The growing emphasis on digital engagement stands out, as sports events increasingly leverage streaming platforms to reach a global audience. This shift is driven by technological advancements and changing consumer preferences, with younger demographics favoring online over traditional TV broadcasts. Alongside this, there is a rising demand for interactive and immersive experiences such as Virtual Reality (VR) and Augmented Reality (AR) in spectator sports, which aim to enhance fan engagement.
Moreover, sustainability has become a crucial focus, with organizations pushing for eco-friendly practices in event management, such as reducing carbon footprints and minimizing waste. Another significant trend is the increased attention to mental health and well-being of athletes, which is now being recognized as vital to their performance and overall sport integrity. The industry is also witnessing a diversification of sports offerings, including the introduction of non-traditional and niche sports that cater to varied audience interests.
Forecasts for the near future suggest continued growth in digital and remote engagement methods, fueled by technological innovation. Sponsorship and advertising models are expected to evolve, leveraging big data and analytics to target audiences more effectively. Overall, the landscape of spectator sports under NAICS 711219 is poised for dynamic growth, driven by evolving consumer behaviors and technological advancements.
Athletes, amateur, independent
Athletes, independent (i.e., participating in live sports events)
Automobile racing teams
Boxers, independent professional
Dog owners, race (i.e., racing dogs)
Dog racing kennels
Drivers, harness or race car
Figure skaters, independent
Golfers, independent professional (i.e., participating in sports events)
Harness drivers
Horse racing stables
Jockeys, horse racing
Kennels, dog racing
Motorcycle racing teams
Professional athletes, independent (i.e., participating in sports events)
Race car drivers
Race car owners (i.e., racing cars)
Race dog owners (i.e., racing dogs)
Racehorse owners (i.e., racing horses)
Racehorse trainers
Racehorse training
Racing stables, horse
Racing teams (e.g., automobile, motorcycle, snowmobile)
Referees and umpires
Skiers, independent (i.e., participating in sports events)
Snowmobile racing teams
Sports professionals, independent (i.e., participating in sports events)
Sports trainers, independent
Stables, horse racing
Stock car racing teams
Tennis professionals, independent (i.e., participating in sports events)
Training race dogs
Training racehorses
Wrestlers, independent professional
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.