Digital Game-Changer: Social Media's Impact on Global Sports Engagement and Monetization
Keywords:
Social Media, Global Sports Industry, Athletes' Mental Health, Augmented Reality (AR), AI, Block-chain, Sports MarketingAbstract
Purpose: The purpose of this study is to explore the transformative role of social media in the global sports industry. It examines its impact on fan engagement, athlete branding, and revenue generation, alongside addressing challenges like misinformation and its effects on athletes' mental health. Methodology: The paper employs a literature review methodology, synthesizing findings from recent scholarly articles, industry reports, and case studies. Key topics include the integration of social media into sports, its role in shaping fan experiences, and the adoption of emerging technologies like AI and block-chain in sports marketing. Findings: The study reveals that social media has reshaped traditional sports paradigms by providing platforms for athlete-led branding, enabling direct fan interactions, and fostering community building. It also highlights new monetization opportunities through digital campaigns, NFTs, and live-streaming. However, it identifies challenges such as misinformation, online abuse, and ethical concerns regarding data privacy. Implications: Social media has emerged as a crucial tool for enhancing engagement and revenue in the sports industry. Organizations and stakeholders must adapt to evolving technologies, ensure ethical practices, and proactively address the mental health challenges posed to athletes by social media dynamics. Originality: This paper contributes original insights by focusing on trends and challenges specific to the 2020-2024 period, particularly the role of advanced technologies like AI, AR, and block-chain in enhancing the social media-sports nexus. It emphasizes strategies to optimize benefits while mitigating potential risks for a sustainable future in sports engagement. All the references are duly cited by the author. Keywords: Risk Management, Supply Chain, Supply Chain Resilience, Risk Mitigation, Artificial Intelligence, Block-chain, Big Data, Global Disruptions.
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