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Experts fear huge revenue loss in sports due to Covid19
MUMBAI: Be it domestic or international sports, the segment has been hit hard by the pandemic caused by the corona outbreak. Though experts predict a heavy revenue loss, it is difficult to predict and understand the extent of damage at this stage.
With the World Health Organisation urging each nation to take this virus seriously, countries across the globe, as a very first step, have cancelled all those events, including sporting tournaments to stop the spread of the virus. As on March 20, 10,048 people across the world have succumbed to the virus infection.
From minister to common man and sportsperson to coach, over 1.8 lakh cases have been detected positive across the globe. “Despite the pandemic, the mortality rate due to this virus is quite low; it’s 3.2 per cent as per WHO. People are scared the way it’s being spread and they have been over-cautious. Brands exist only if the people running the brand exist," says brand expert N Chandramouli.
Since early last week, a majority of international sporting events are either being cancelled, postponed or changed to the shorter format. The latest tournament that was deferred by a year is UEFA’s Euro Cup 2020. The once-in-four-year soccer event was scheduled to happen from 12 June 2020. Now, all eyes are on another marquee event this year, Olympics 2020, scheduled between 24 July – 9 August.
According to Forbes, “The NBA became the first major US sports league to suspend games ‘until further notice’. A loss of over $500 million is expected as it was on the verge of completion before getting suspended. The loss expected in only one-fifth of the total game.”
Similarly, the World Economic Forum is of the view: “Postponed or cancelled events could lead to a decline in revenues for the event organisers as well as for media that broadcast them. Cable television companies are partly dependent upon advertising, meaning that any decline in revenue will impact profitability.”
An industry source, who didn’t want to be named during this testing time, says: “Not just sports, every other sector has been massively hit by this pandemic. The world economy along with India is seeing new lows every other day. Next one-two weeks are important and at this moment we are unable to make any comment on the revenue loss, be it sports, media and entertainment or any other sector.”
On the back of IPL and major cricketing tournaments, Indian sporting sponsorship industry saw a rise of 17 per cent to Rs 9000 crore in 2019, a report released by GroupM’s ESP Properties said. There is a sense that the growth story of Indian sports sponsorship this year may see a drastic fall, experts say.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
