Today’s sporting industry has changed exponentially in comparison to the industry of years past. Social and media responsibilities have altered the way the sports industry handles its businesses both internally and externally. With technology and social media, it is nearly impossible to complete a business deal or merger without the world knowing within the next twenty minutes. For example, an athlete signing a new contract, a team considering relocating to another state, or more importantly, a lockout of the league, is no longer an “in house” conversation. A lockout can be contributed by many sources. The usual driving force of a lockout is money and how it should be divided up amongst players, owners, and sponsors, which is called collective bargaining. There are four key sides that are most affected by lockouts and its social media outlets; Owners, players, economy, and fans. All four sides are vital to the sports industry. Without any piece, the industry can falter to nothing more than an overrated recess. And in the case of a lockout, all it takes is one of the four pieces not seeing eye to eye and it causes financial and social problems.
Social media has given the fans and the media the view that was never available before. Although a lockout is a nightmare to all parties involved, it is also a key contributor to the financial breakdown of the sports industry. So when accompanied by social media, it gives a better playing field for everyone to share their side of the matter and to save face. All four pieces to this puzzle need to be in sync and appreciated equally to avoid a lockout. Every major sport in the United States has had or is in a lockout. And with the industry’s continual growth financially and with the help of social media, you can almost bet that there will be plenty more lockouts as the money pie continues to bake. For the latest information about the NFL lockout, Click here
Yesterday's Talk, Today's Sports, and Tomorrow's Business!
