Is rugby a rich person sport?

goulburnpost.com.au - 7 Top reasons rugby is a lucrative sport - Goulburn Post

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7 Top reasons rugby is a lucrative sport

7 reasons rugby is a lucrative sport

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Rugby has evolved to become a glamorous sport. Though it occupies a different stratosphere compared to soccer, it's said that there's a lot of money on rugby sports. Many rugby players are now earning payments they could only imagine years back. Here are 7 top reasons rugby is a lucrative sport.

1. Wealthy fan base

Traditionally, rugby has wealthier fans. It was founded in the late 19th century, and ever since, it has been a game for the rich. Though lovers from different financial classes view the sport differently, it has remained a game with a higher percentage of wealthy fans. Among its list of rich fans are celebrities. The increased financial class of most rugby fans makes them willing to spend a lot on the sport. Most fans can afford tickets and other sporting items without complaining about cost. They can also stake on National Rugby League or NRL betting and earn dynamic rewards.

2. Quality sponsorship

Rugby has become a money-making machine generating revenue in terms of sponsorship. Sponsorship deals for rugby are in the range of millions. The sport has become somewhat a viable commercial platform. Hence, private investors and high-class business enterprises are drawn towards investments on many levels. Besides, the sport has long-standing sponsors in banks and insurance giants. As these sponsorship opportunities continue to exist and increase, the chances are high that more investors will be attracted to the sport. This ultimately results in more money being pumped into the game.

3. Large and increasing viewership

Rugby has viewership in several countries across the globe. Major continents have access to rugby games on a local or international network. Large viewership makes the sport more popular. So does it attract more fans and investors to the game. Inadvertently, this translates into more earnings for the sport. Stadium viewership is also worth noting. Giant open stadiums are often filled with rugby fans during a game. Fans gain access to the stadium by purchasing tickets. Ticket sales is another money-making channel for the said sport. The more fans purchase stadium tickets, the more the money made.

7 reasons rugby is a lucrative sport

4. Broadcasting rights

Without broadcast technology, many rugby fans worldwide wouldn't be able to enjoy the excitement of the sport wherever they are located on the globe. Broadcasting technologies have made the sport more thrilling. They also have transformed rugby into a top-tier sporting event available on multiple platforms and formats. Nonetheless, beyond creating expanded reach, rugby broadcasts earn a lot of money. The sale of broadcasting and media rights is a crucial income stream in rugby. Currently, broadcasting and media sales income already surpass ticket sales as a primary source of revenue. Broadcasting rights also help boost revenue streams such as in-stadia advertising and corporate sponsorship deals.

5. Prize money

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The rugby world cup, for example, has no specific prize fund. Instead of a fixed amount, competing unions get paid according to the overall profit made by the International Rugby Board (IRB) at the end of the tournament. So instead of specified prize monies, players are offered special contract fees by their unions and bonuses for winning matches at the game - additionally, these bonuses are quick to mount up. Compared to other sports, rugby contract fees and gratuities are huge take-homes. Players and clubs can make money by emerging as tournament winners which adds prestige and hype to the sport.

6. Sport merchandising

Merchandising is another activity that makes rugby a lucrative sport. This is the part where each rugby club sells its apparel, sporting kits, or branded products to its fans. Merchandising creates a sense of belonging for fans. Wearing your favourite team's jersey or branded t-shirt will most likely make you feel prouder. But the catch is the financial benefit of merchandising seems to outweigh its psychological benefit. Rugby merchandising raises lots of money yearly in and out of season. Both corporate bodies and individuals benefit from merchandising. Rugby players with significant followings are sure to have thousands of their followers buy their jerseys. In return, they earn royalties from brand ambassadorship and other similar deals.

7. Digital opportunities

Modern-day technology has enabled rugby to become more lucrative. The internet, alongside the disruptive media landscape, has taken rugby to new audiences worldwide. These shifts have helped grow existing fan bases, created new ones, and enabled fans to engage with their favourite sports stars. Digital channels can now augment the live TV experience for fans who couldn't attend a match in person. Virtual reality (VR) applications have also added more elements of surprise to the game. Integrating these sports innovations makes it more lucrative as many of these services are paid for by users.

Conclusion

Analysts believe that rugby holds its spot amongst the top lucrative sports across the globe. From having a large base of wealthy fans willing to pay premium fees for sporting activities to leveraging sponsorship and merchandising deals, the sport has grown in its earnings. In the coming years, it's expected to become even more lucrative than it currently is.

goulburnpost.com.au - 7 Top reasons rugby is a lucrative sport - Goulburn Post

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