As a sport enthusiast and a journalism student living in one of the world’s greatest cities, I thought I would focus this project on an integral part of what makes Melbourne so great: its entertainment industry.
You can talk as much as you want about Melbourne as one of the culinary capitals of the world, but the plethora of entertainment options offered up by the city rates second to none.
Melbournians are proud of our status as the ‘Sporting Capital of the World’ and we should be. For a city of four million people to have a similar number of professional sporting teams as a city like New York or London is staggering and that’s without mentioning any of the other entertainment options Melbourne provides.
But therein lies the problem. Having 26 professional sports team in a city of just four million people is a over-saturation of the market from a sports standpoint. And with the AFL dominating the market and factoring in that many Melbournians just aren’t sports consumers, the economic stability and longevity of some teams will come into question.
Professional teams require the funding and support of fans to keep themselves from going insolvent and your average working citizen only has a finite amount of discretionary income per annum. Depending on their preferences and hobbies, they could choose to spend it on their club of choice in the form of a membership or merchandise or they might prefer to catch a movie or screen play.
Either way, their income is crucial to the survival of the entertainment industry and with the Global Financial Crisis looming, the entertainment industry may be battered from pillar to post as patrons don’t have the same amount of discretionary income to spend.
Over the next weeks i hope to look at how the entertainment industry will survive the economic downturn as well how new clubs will break into the already clustered market that is Melbourne.