The Media and the Economics of Sport Essay Example | Topics and Well Written Essays - 1750 words

The Media and the Economics of Sport - Essay Example In addition the sports, culture and the media tends to represents entrenched and a taken for granted feature of the concept of late capitalism. There is no or little evidence that states that the blend of sports and media along with culture and the growth and emergence of new media would slow or decline in the future (Scherer, n.d, p. 84). During the nineteen century sports and media had become mass phenomena and therefore the two, sports and media have been parallel over the years. There exists a mutual relationship in between the two factors. However today’s in the modern world sports and media complex are a result of social developments and new technology. The system was developed through television as a means of conveyor of exhibition and exposure. With the commercialization of the television along with the growing competition from the audiences in new media have played a crucial role in enhancing the new media for sports. The appeal of sports has become so significant tha t it tends to fuel the changes which take place within the social institution such as journalism and broadcasting. Thus the value of sports has helped shape the structure and practice of media and similarly media facilitates the reformation of sports. It was in Britain that the relationship between media and sports was first developed. Media needs Sports Modern sports and the media are both multibillion businesses. Elite sports functions require mass media in order to underwrite and publicize them accordingly. The huge market of sport along with the equipment and merchandise to a very large extend is sustained by the media and its 24/7 sports coverage along with the economic infrastructure of the media which depends largely on the sports in order to make it large, create loyal readers, listeners, interactive consumers and also viewers. But the dynamics of synergy between sports and media is not without problems. The media has an influence only in ways how events are staged but also time of taking place. The media decides on the time and lace of an event to take place. When the Olympics sprinters started to run the race at 5 in the morning so that the people of New York could watch them in prime time which took place in the summer games in South Korea in the year 1988. This shows that the media have clearly exercised a certain degree of influence over sports which was not possible or unthinkable in the olden days. Thus the economic interest of media is evident from the advertisement which keeps on interrupting the event covered by television networks. But there are occasional backlash between sports and media. Some athletes sometimes accuse the media in particularly the television for taking things out of sports and altering the rules, structure and ethos. Corporate sponsorship is one of the key areas where the brand value of the sports is central to the relationship between sports and media. This has helped the sports organization along with the competitions t o be funded in the process of expanding identification, brand recognition and also loyalty from the sponsors. Thus the key to commercialization of sports with the help of celebrity