The relationship between the media, corporate America, and sports in the past decade has not only generated billion-dollar revenues, but it has reshaped football and the NFL in doing so. In 1990, the NFL shocked industry analysts when it inked a $3.6 billion media contract split between five broadcast and cable networks (Zoglin 1).
Soon after this deal was announced, the NFL announced it was adding two more teams to the playoffs, two more weeks to the seasons starting in 1992, and to help offset the enormous costs of coverage rights the networks added a total of five more 30-second commercial spots to its NFL games by 1992 (Zoglin 1). As billion-dollar deals and expensive advertising spots began to emerge and reshape the NFL, so, too, media coverage of sports increased through more coverage of sports events by established networks and cable stations as well as the addition of new sports stations like ESPN, an all-sports channel launched in 1979. In 1988, 723 sporting events were shown on cable, up from 158 in 1979, while the network offerings rose from 341 to 453 in the same period (Zoglin 2).
Today, ESPN boasts more than 80 million viewers and aggressively bids for major sports events like its NFL Thursday night games (Zoglin 2). As these potentially lucrative changes pervaded the sports industry, corporate America quickly entered the fray. Companie Leonard, W. M. Some economic considerations of professional sports teams. Journal of Sport Behavior. 20, (338-337) 1-7.
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