Today, the sports industry is an important sector of the economy of different countries. Sport as a whole acts as a factor in ensuring economic growth, since it intensively affects the economic sphere of life of the state and society, namely the quality of labor, physical fitness of the workforce, the structure of consumption and demand, labor productivity, foreign economic relations and other indicators of the economic system.

But, like any economic sphere, the sport needs comprehensive support, and first of all, it is financial assistance. There are two main sources of financing for this industry: budgetary and extrabudgetary.

Sport, like healthcare, education, and culture, is the most important strategic resource for the development of a full and healthy society. Due to this circumstance, the state should significantly help the industry by taking on some share of the costs or providing certain benefits. All this relates to “budget” financing.

“Extra-budgetary” sources of financing are considered to be the revenues of sports clubs and organizations themselves, social orders, sponsorship, and philanthropy, etc. Both sources of financing operate in each country, one of which is predominant. So, according to statistics in the UK, 80% of the sports industry is funded by the state budget. In the US, 95% of the costs are borne by private companies.

How exactly can MyTVchain help sports clubs and organizations?

MyTVchain’s mission is to help sports clubs earn more revenue from their content, build brand loyalty, and foster the development of sports club channels. We are creating a new model in which sports clubs and spectators interact with the blockchain without intermediaries.

First of all, MyTVchain helps sports clubs finance their activities. Any MyTVchain user can donate tokens that he earned to support his beloved club.

Our platform helps to increase the popularity of local sports clubs by viewing their video content on the platform. With MyTVchain, even the smallest sports clubs can develop their own web television by distributing video through the platform itself or social networks! This allows you to improve the reputation of a sports organization and open the way to new partnerships with potential buyers of services or advertisers.