Sports & Entertainment
|NBAC industry expertise|
The sports industry is one of the largest and fastest growing industries in the United States. A Street & Smith’s Sports Business Journal annual survey by the size of the industry estimated the sports business industry last year at $213 billion. It is far more than twice the size of the U.S. auto industry and seven times the size of the movie industry. Video gaming is only a small fraction of the size of the sports industry, yet its 28.4% annual growth in 2007 makes it a frontrunner of the entertainment industry. The Entertainment Software Association announced that total sales for 2007 were $18.85 billion, with $9.5 billion of that spent on games (both PC and console) and $9.35 billion on consoles.
Accounting, tax and financial reporting issues in these industries vary tremendously. Whether domestic or international, corporations or individuals, driven by high profits and fast revenue growth, all business entities require consistent financial work-out that help develop financial management discipline, significantly reduce taxes, and entrench winning payout arrangements.