Lot's of people are incredibly naive to the economics of this and getting excited about one well attended event the other side of the world and playing this out into the future, entirely ignoring the money.
There is a reason why the majority of the events are in the US. If what they say is true, and that this is an investment that is ultimately designed to be profitable and fully self sustainable, then Liv has to crack the US, in a big way. (and to a lesser extent the UK)
They have to convince regular US golf viewers to watch, en masse, plus more casual sports viewers than the PGA currently does. This enables them sell media deals to the largest US networks, who will only be interested in doing so if they can generate large advertising revenue. Proportionally, companies spend very little of their advertising budget on the 18-30 demographic, as they have little disposable income. So it has to be the current base. They then have to convince the wealthiest US corporations to invest in sponsorships. these budgets arent growing, so it's moving it from a different sport or away from the PGAT (who have more big players). They have to convince billionaires to buy a golf team rather than a football team, F1 team, IPL, NFL, NBA etc etc.
Chances of success are still low, and this week in Australia hasnt really enhanced the economic side whatsoever.
There is a reason why the majority of the events are in the US. If what they say is true, and that this is an investment that is ultimately designed to be profitable and fully self sustainable, then Liv has to crack the US, in a big way. (and to a lesser extent the UK)
They have to convince regular US golf viewers to watch, en masse, plus more casual sports viewers than the PGA currently does. This enables them sell media deals to the largest US networks, who will only be interested in doing so if they can generate large advertising revenue. Proportionally, companies spend very little of their advertising budget on the 18-30 demographic, as they have little disposable income. So it has to be the current base. They then have to convince the wealthiest US corporations to invest in sponsorships. these budgets arent growing, so it's moving it from a different sport or away from the PGAT (who have more big players). They have to convince billionaires to buy a golf team rather than a football team, F1 team, IPL, NFL, NBA etc etc.
Chances of success are still low, and this week in Australia hasnt really enhanced the economic side whatsoever.