The sports industry has gradually become an important part of the national economy. It is imperative to achieve the goal of a total scale of more than five trillion by 2025
The sports industry is an important part of the national economy. According to the total scale data of the national sports industry released at the end of 2021, the scale of China's sports industry will be 2737.2 billion yuan in 2020. We believe that the advantages and future space of China's sports industry include the population base, policies and the transformation of consumption ideas. The active support policies have long been the guarantee for the development of China's sports industry and pointed out a clear development direction for sports planning and industrial capital. According to the national fitness plan (2021-2025), it is imperative for the sports industry to reach 5 trillion by 2025, with a compound growth rate of 12.8%. With the gradual implementation of the "double reduction" policy, we are optimistic that the proportion of sports services such as sports education and training, media, fitness and leisure will continue to increase in the future development and usher in rapid development.
Midstream media cooperates with the upstream to build China's leading event IP, superimposing the national fitness background to promote downstream sports consumption
The sports industry takes competitive events as the core, and constructs the core layer, peripheral layer and related industrial layer, respectively corresponding to the upstream event resources, midstream media communication and downstream sports derivative industries of the industrial chain. Sports events are the upstream of the sports industry. At present, the development of sports events in China is still in the primary stage. It is expected that with the support of national policies, the improvement of residents' attention to the sports industry and the active collaborative development of local sports event IP by the midstream media industry, it will effectively promote the overall rapid development of China's sports industry. At the same time, the middle and lower reaches of the sports industry is also undergoing active reform. The sports media side continues to improve the acceptance of paying people for sports content, and explore event derivative programs to increase user stickiness; The sports consumption side actively builds up the new format of "Internet plus sports" based on the background of the national fitness and the opportunities of the Winter Olympic Games, and strive to develop China's ice and snow industry chain.
Research on American sports industry: focusing on the mature consumption ecology of sports events and keeping up with the changes of traffic, it has been renewed for a long time
After a century of vigorous development, the sports industry in the United States is one of the pillar industries in the United States, accounting for about 1 / 3 of the global sports industry. The supply of sports events in the upstream of the United States is rich, and a mature consumption ecology around events has been formed in the midstream and downstream. Through the review of NFL's centennial history, we believe that 1) the growth of NFL is inseparable from the continuous development of American media industry in the past century. From the popularity of TV in the 1930s and 1940s to cable TV in the 1980s and 1990s, and then to today's streaming media, the cooperation between NFL and new media is ahead of every change of media and traffic. 2) NFL reaches American families through all channels, and what really attracts American audiences is NFL's polishing of its own game and the updating iteration of its mode, including the iteration of game rules, tactics, live broadcasting technology, sponsor types, etc. In contrast, the current digital economy is gradually rising, which is similar to the window period of gradual popularization of American television. Under this background, we are optimistic that China's sports industry will make use of its own advantages to usher in considerable development in national fitness, sports digital economy, ice and snow industry, etc.
Ice and snow industry and Winter Olympics: China's ice and snow industry has entered the golden age, and the hosting of the Winter Olympics is accelerated
Ice and snow industry is a special resource-based industry formed on the development of ice and snow resources. It covers a wide range and has a huge industrial chain. On the whole, China's ice and snow sports industry has initially formed an industrial pattern focusing on fitness and leisure, with the coordinated development of competition performance, venue services, sports training and sports tourism. Taking the United States and Japan as an example, the development of the Winter Olympics is expected to have a catalytic effect on the ice and snow industry. Since Beijing won the right to host the Winter Olympics, the central government has intensively issued policies to encourage the development of the ice and snow industry. We are optimistic that the ice and snow industry will usher in a golden period of development after the Winter Olympics. It is expected to exceed trillion in 2025, and the copyright and commercial sponsorship of relevant events are expected to become a breakthrough in the future.
Investment advice
In 2022, many international sports events such as the Winter Olympic Games, the Asian Games and the Universiade will help China's strategy of becoming a sports power. China's sports industry has experienced the scour of the epidemic and is in the ascendant. Under China's huge sports consumer base, active policy escort, digital economy transformation and the upgrading of sports consumption concept, we are optimistic about bringing considerable development to the sports industry for a long time. Relevant leading enterprises in sports digital economy, national fitness and ice and snow industry are expected to usher in a new wave of dividends. First of all, they will benefit from the rapid development of the industry. It is suggested to pay attention to [ China Sports Industry Group Co.Ltd(600158) ] [ Shuhua Sports Co.Ltd(605299) ].
Risk tips: repeated epidemic risk, policy change risk, macroeconomic fluctuation risk, and the risk that the company's business operation is less than expected
