The evolution of the entertainment sector in the metaverse: the case of sports event management

Purpose – This article aims to analyse how event management in knowledge-intensive organisations (KIOs) evolves in the metaverse, focusing on the changes in the business model of professional sports events. Design/methodology/approach – This study employed a qualitative method based on the multi-case study approach. Starting from the main cases of sports events managed in the metaverse, we analysed and discussed how to develop a business model that allows the exploitation of the metaverse in managing events in KIOs. Findings – We found two main case studies in different sports in Italy. We explained that the metaverse impacts the main levers of a sports event business model: experiential and relational character, marketability, innovation and revenue sources. Additionally, enjoyment has led to a broadening of the audience. It has been determined that it is possible to distinguish different business models based on the modalities of event enjoyment, which generate distinct target audiences. In this scenario, fan engagement has a crucial role. Research limitations/implications – This study has some limitations: the cases do not cover all sports that exist in the real world, and as a multi-case study, it reduces the generalisability of the results. Practical implications – This article supports academic researchers, policymakers, and managers by providing tools to extract value from the metaverse and to develop policies that address the legal and economic issues associated with this technology. Originality/value – This article fills a literature gap. Despite the relevance of this topic, as demonstrated by the initiatives undertaken by professional sports clubs, there is a literature gap on how to develop a business model to leverage the potential of the metaverse in the KIOs.