Intellectual property drives global sports innovation

According to a report by consulting firm Kearney, the global sports industry is currently worth about 417 billion USD and could exceed 600 billion USD by 2030. Most of the revenue comes from exploiting television copyrights, brands and intellectual properties, instead of pure business activities around the competition.

A sports match no longer only exists during the time it takes place, but continues to be exploited in many different forms of content. Broadcast rights allow the distribution of matches on television and digital platforms. Accompanying content such as interviews, behind-the-scenes or thematic programs prolong the exploitation life cycle, creating additional revenue for related parties.

According to the Department of Intellectual Property, “behind every explosive moment is a whole world of intellectual property”. Intellectual property drives innovation in sports. Inventions help create more optimal competition equipment, from shoes and balls to technology that helps athletes break through all limits. For example, Hawk eye, a ball tracking technology during matches, has filed patent applications in more than 100 countries. Nike Hyperboot, recovery technology for athletes, has also received a patent in the US.

Brands also contribute to building the identity of the entire sports ecosystem, from tournaments, clubs, athletes to brands and events. In fact, the World Olympic Committee currently owns nearly 100 trademarks in Europe, showing the level of interest sports organizations have in intellectual property.

In this ecosystem, copyright and related rights play a role in protecting sports content, from broadcasts to media products. This is the basis for sports content to be legally exploited and create economic value.

The development of digital technology is changing the way sports content is approached. Viewers can follow the event via mobile devices, while non-competition content such as interviews and behind-the-scenes are expanded to reach the audience, especially young groups. This contributes to increasing the value of digital rights.

According to 23 Capital, an organization providing capital and financial solutions for sports, in the past, intellectual property rights in this field had difficulty accessing capital from the traditional financial market. Recently, the trend is changing as the value of intangible assets is more clearly recognized. Athletes are increasingly proactive in exploiting their rights. Instead of depending on clubs or sponsors, they tend to separate intellectual property rights into parts to optimize value.

However, the exploitation of intellectual property in sports still faces many challenges, including copyright infringement, pirated broadcasting and fake and counterfeit goods.

World Intellectual Property Day is held on April 26 – associated with the time the Convention establishing the World Intellectual Property Organization (WIPO) took effect in 1970. Since 2000, the event has been held annually to raise awareness of the role of intellectual property in promoting innovation and economic development.