The New Classification and Size Estimation of the Sport Market: Focusing on the Sport Market Value Network

Sports have begun to be considered an industry beyond entertainment or culture. The sport industry increases employment and creates economic value by having positive effects on other industries. The more effects the sport industry has on the economy, the more important policies on the sport industry become. To make a policy, it is necessary to compile statistics. However, the classification in the sport industry has to be done before compiling statistics. It is because the sport industry is not a traditional but emerging industry. Accordingly, various classification standards related to the sport industry are made and gradually developed around the world. In the beginning, there was a classification approach that first creates main categories of the sport industry and then subdivides them into smaller ones. It is the so-called classification approach from the provider’s perspective. As the sport industry has been combined with a variety of industries such as manufacturing, broadcasting and tourism, new types of business in the sport industry started to appear. As a result, in the developed countries like Japan and the US, there is a new classification approach, which classifies the sport industry and attempts to understand its attributes. This is because understanding the characteristics of the sport market is efficient for policy development. However, classification standards related to the sport industry in Korea are still based on the provider’s perspective, which makes it difficult to understand interrelation between industries in the sport market and to find new types of business and its background. It also disturbs making and fulfilling proper policies for the sport industry. Accordingly, this paper will suggest the new classification system, which can help grasp its attributes and the market condition. That is similar to the trend in developed countries, where the classification of the sport industry and understanding of its attribute are conducted at the same time. This paper especially attempts to suggest the market-based approach that considers not only the consumer’s position but the supplier’s, because this approach can increase the efficiency and effectiveness of a policy.