The greatest business opportunity accessible to Pitt Athletics is the ability to capitalize on generating revenue from the D1 football program. Zacks.com reported that a single university’s college football program generates approximately $31.9 million annually, and Pitt is no exception. To purchase tickets for the September 1st game, ticket prices ranged from $142 to $1,059. Considering the fact that Acrisure Stadium has a holding capacity of 68,400, the University of Pittsburgh has the ability to generate vast revenue from a single home game. From these statistics, it is clear that Pitt Athletics has successfully capitalized on D1 Football, yet fails to generate significant revenue in other branches of athletics. Personally, basketball and hockey are my favorite sports to watch, yet they produce a fraction of football’s revenue. Market and accessibility strategies should be implemented to increase the revenue generated by winter sports through social media campaigns and through word of mouth.
From a fundamental perspective, the most concerning business threat to Pitt Athletics would be having losing teams. Losing teams would decrease school spirit, and result in less sports coverage for the University. Many schools require that both teams and individual athletes have a minimum GPA, which requires recruiters to take athletics and academics into account. While well-intentioned, this requirement may cause coaches to take on less talented players, and ultimately lead to losses throughout the season.
Because I haven’t decided on a major, I hope to gain experience in all aspects of business regarding Pitt Athletics. I would hope to assist the department in advertising their “Olympic Sports” through designing graphics for Instagram or creating posters to post around campus. I am incredibly interested in learning about how Pitt Athletics allocates funds across all areas of fitness. Do the varying sports programs receive funding in proportion to the revenue that their teams generate, or is funding somewhat even across the board?