The Business of Golf
While learning about Drupal, the content management system the underlies the new website upgrade, I discovered that FastCompany, a magazine/e-zine recently migrated to Drupal.
In another life I read FastCompany regularly. It's still a good publication for the new world worker whose business is as much on his iPhone as it is on his desk.
To my surprise one of the feature articles on FastCompany's website was titled The Business of Golf. This article turned out to be mostly golf industry trivia well suited for 19th hole conversation. Maybe the kind that will close a deal.
I've included it here, along with some editorial for good measure.
Scottish golfers wrote the first set of rules for the modern game in 1774, some 300 years after Scotsmen (make that shepherds) began hitting pebbles with sticks.
China is one of golf's fastest-growing (and most expensive) markets. More than holf of its 300-plus courses have been built since 2000. The average golf-club initiaion fee is $53,000, and Chinese golfers typically pay $161 in green fees for a round. (Mao would deeply disapprove.)
Tiger Woods has held the world's No. 1 ranking for 529 straight weeks. He's earned an estimated $769 million from winnings and endorsements. It's predicted he'll hit $1 billion next year.
Only 38.5% of American golf courses are public. (And most of them aren't making any money).
Golf is a $60 billion industry, with 30,730 courses and 57 miillion golfers worldwide. (That's not chopped liver! Golf should get a little more respect even in tough times).
Under the Masters' broadcast contract, CBS and ESPN air only four mminutes of commercials each hour, rather than the usual sixteen. (Making the Masters bearable. Commercials and those awful British commentators make the rest of the tournaments brutal on TV).
The LGPA's 240 members hail from 26 countries, including 119 Americans and 45 from South Korea. (Too bad the audience for women's golf is so small).
In 1950, there were 3.5 million adult golfers in American. In 2008, that number hit 29.8 million. (A number that has basically not changed since the mid-1990s).
In the U.S., 1.7 million homes are built on or near fairways. (Many of which are in foreclosure)
Homes in developments with golf courses sell at nearly double the speed and for a 70% higher price than those in subdivisions without. (Really? Tell that to the folks in Florida)
Sixty percent of homeowners in golf-course communities don't golf on a regular basis. (These are the wives and kids).
24% of golfers are blue-collar workers. (YES! Too bad the percent of golfers with no jobs isn't given.)
39% of golfers hold professional-level jobs.
16% of golfers are retired. (This 16% plays over 50% of the rounds during the week).
3/4 of golfers are male. (I thought this percent was higher. There might be hope for women's golf after all)
Par for a golfer's age is 37 years. (This age may becoming "par" for becoming a parent, dooming the game to being a past time for aging baby boomers. What a horrible prospect!)
59% of golfers live in North America. (Where else would they live when most of the golf courses are here?)
