The coronavirus pandemic has caused a large majority of sporting events to be canceled or postponed. Only 53 percent of the year's sporting events that were originally scheduled will take place, according to sports marketing agency Two Circles.
The new projections are forecasting that just 26,424 sporting events will be held during 2020. There were around 48,800 sporting events that were scheduled to be held prior to COVID-19 spreading around the world with a projected attendance of over 5,000.
In addition, the sports industry will only stand to generate $73.7 billion in revenue during the 2020 calendar year. Those projections are $61.6 billion less than originally thought before the coronavirus pandemic.
In 2019, the sports industry generated $129 billion in revenue.
"Compared to most other industries, in recent times of economic adversity sports has proven to be recession-resilient," Two Circles CEO Gareth Balch said in a statement. "Whilst live sports is halted, every corner of the sports industry will continue to feel this significant financial pain, but we are certain that it returns, whether that's behind-closed-doors or with full houses, sports' economy will thrive once again."
Dr. Anthony Fauci, who has been the country's top infectious disease expert, said last week that he expects professional sports to return at some point this summer. However, players will be forced to stay in hotels and fans won't be allowed to attend.
