This article is from the WeChat public account: Sports Economic Observation, author: Diego, title picture from: Visual China
When you see Zheng Qinwen's ratings in the Wuhan Open final ranking first in the CCTV live broadcast in the same time period, you will feel more intuitively the sense of belonging, star effect and box office appeal created by local stars for fans. The crowded venues, as well as the first place on the hot search list for more than 10 hours, all show the rapid spread of domestic "tennis fever".
Coincidentally, as a highly commercialized and professional sport in the world today, golf is now showing a similar "star effect" in China.
Although Zheng Qinwen was defeated and relegated to the runner-up, Yin Ruoning became the first Chinese champion in seven years to win an LPGA event at home with the 2024 Buick LPGA Championship championship trophy held at home.
This is also the third time in the history of Chinese mainland players to win the LPGA championship "at home", after Feng Shanshan of the 2014 Reignwood LPGA Classic (Beijing) and the 2017 Blue Bay Masters (Hainan). Driven by this breakthrough achievement, CCTV's "Sports News" reported the news of the new Chinese golf "first sister" Shanghai winning the championship with headlines that night.
For golf tournaments and industries that have been operating in China for more than a decade, these are very likely to bring huge returns.
With a high score of 2.23 million, Yin Ruoning won a lot of money for golf
Like this year's China Open, the Buick LPGA Championship, which ended last weekend, also ushered in a bumper harvest. According to the official data revealed by the event, the number of on-site spectators of the event in 2024 will exceed 25,000, and with Yin Ruoning entering the championship ranks, the audience on the final day will break through a record high of 10,000. Some media used the "Zheng Qinwen phenomenon of golf" to compare Yin Ruoning's influence at this year's Buick LPGA Championship.
Born in 2002, Yin Ruoning entered the professional golf stage before the age of 20, and after a short adjustment period, before the age of 21, she achieved a major in the United States Women's PGA Championship, becoming the youngest major champion in Chinese mainland, shocking the golf world, and even her idol Curry sent a video congratulations. She is also the second female golfer of the China High Association to reach the top of the world No. 1 after Feng Shanshan.
This is also why, when many people mention this super newcomer, they will bring some meaning of "Feng Shanshan's successor". However, Yin Ruoning has far surpassed his predecessors in the speed and efficiency of winning major honors.
Although Feng leads the total number of championships with 10 LPGA titles, Yin Ruoning won her fourth LPGA title at the age of 22, while Feng Shanshan only won her fourth title at the age of 25. Youth is also a bargaining chip, and judging from the current progress trend, Yin Ruoning's future prospects contain infinite possibilities.
A series of breakthrough achievements and amazing growth rate have also allowed Yin Ruoning to cooperate with a number of sponsors, including Callaway, Rolex, Milkyway, and Mengniu, and the number of endorsement brands has gradually increased.
Coincidentally, Yin Ruoning's Buick LPGA Championship has a different meaning in her golf career. Before turning professional in 2019, at the age of 17, she made her LPGA debut in this arena and won the "Best Amateur Player Award". At that time, the Buick LPGA Championship was also a young tournament that had just completed one year of joint certification by the United States Ladies Professional Golf Tour (LPGA) and the China Ladies Professional Golf Tour (CLPGA). Five years later, with the rapid growth of the new generation of golfers represented by Yin Ruoning, local golf tournaments are also gaining unprecedented attention.
On the final day, enthusiastic fans on the course created a rare "packed crowd" scene in domestic golf events. After the game, Yin Ruoning was surprised by such a warm atmosphere at home, "It feels really great that so many fans come to cheer me on!" ”
Outside the court, on the same day, Zheng Qinwen unfortunately lost in the Wuhan Open tennis tournament and was relegated to the runner-up. Yin Ruoning withstood the fierce offensive from all strong opponents in the LPGA arena, and insisted on leaving the championship trophy at the home stadium in China, becoming the first "host" champion in the history of the event, and stood out in the overwhelming tennis reports of major media and became the focus.
Yin Ruoning used his excellent results to win the voice of golf and also received rich returns. The Buick LPGA Championship Championship Trophy that she just got in her hands brought her a first-place prize of 315,000 US dollars (about 2.235 million yuan). It was the third-richest prize check of her career, behind the $1.5 million at last year's Grand Slam Women's PGA Championship and the $366,000 winner prize at the Dow Championship this June.
Can winning the home championship catalyze the "Yin Ruoning effect"
Like tennis, golf is also an international and highly market-oriented sport, which has attracted a lot of attention and influence around the world. A rising golf star like Yin Ruoning, who has won many accolades at such a young age, is naturally expected to have high hopes, and her rise is often compared to Zheng Qinwen, who drives the Chinese tennis market.
Yin Ruoning and Zheng Qinwen are both top options in the new generation of young athletes, but golf's influence in China is far from comparable to that of tennis.
While Yin Ruoning was eager to further cash in on his athletic talent, Zheng Qinwen had quickly cashed in on his business talent. In Forbes' list of the highest-paid female athletes in 2023, Zheng Qinwen ranked 15th with $1.7 million in tournament prize money and $5.5 million in off-court sponsorships, becoming Gu Ailing, the second Chinese athlete in the top 20.
From the perspective of commercial endorsements, Zheng Qinwen, who has more than 10 local sponsors such as Ant Group, Yili, Lancôme, Bawang Chaji, and vivo, also proves that tennis has a strong ability to attract money in China.
One of the main reasons for such a gap is that the development of domestic golf is still very limited. The policy environment should be the most important factor, and the golf industry as a whole has developed with the rapid development of the real estate industry, and then quickly cooled down with the draconian anti-corruption policy, making golf face many challenges in China.
Affected by its niche influence in China, golf also has to compete with traditional sports rooted in Chinese culture, such as table tennis and badminton, which have a lower barrier to entry, are easier to popularize, and have a larger fan base. In addition, there is a cost associated with participating in golf programs in China, where resources are scarce and often higher than in most individual and team sports.
Yin Ruoning may not be as violent as the "Zheng Qinwen effect", but it is gratifying that the focus of public attention on golf is gradually changing, and people are beginning to pay more attention to the positive impact of the game on their inner emotions and life conditions.
Especially under the influence of mobile Internet and social media, golf has increasingly become the main front for cross-border stars to participate in sports, and golf clothing has gradually expanded to the "daily life circle", which has made this sport more popular and younger.
The trend of golf becoming more and more popular and trendy has also greatly promoted the development of brand marketing. Mixed sports brands such as lululemon, FILA, Li-Ning, Descente, and even mass consumer brands have laid out golf courses, which also increases the attraction of this market.
Before Yin Ruoning won the LPGA championship at home, Lin Xiyu won the bronze medal for the Chinese team at the 2024 Paris Olympics, tying the best golf result of the Chinese Olympic Games. When Lin Xiyu and Yin Ruoning, the top golfers in China, represented by the "Women's PGA Tour Chinese Army", waved their Chinese style one by one in the international arena, it also provided a very large imagination space for the future of domestic golf.
Plant the seeds of golf
According to the China Junior Golf Development Report (2023) released by the China Golf Association in June this year, the number of young golf players in mainland China has increased steadily, with 18,345 new junior registered players in 2023, an increase of 28% compared with 2021. The top six provinces, autonomous regions and municipalities with the highest number of active youth golfers are Guangdong, Shanghai, Beijing, Jiangsu, Shandong and Zhejiang.
Such a data growth model is inseparable from years of tournament construction and a clear growth path for domestic golfers. In recent years, with the strong support of sponsors such as HSBC and Buick, domestic junior championships at all levels have been held in full swing, and golf culture has heated up rapidly. It is not surprising for parents with a keen sense of smell to choose these projects with a high degree of professionalism, great influence, high commercial value, and relatively higher income. At this year's Buick LPGA Championship, there were also many parents who brought their children to the arena.
To really pursue the sport of golf and make it a career, it does require a certain amount of capital. According to Golf Master, in China, the average annual cost of a child's comprehensive golf learning is not less than 500,000 yuan, while the upper limit is almost non-existent.
What's more, competitive performance must rely on strength, not by parents paving the way with a lot of money and time investment, after all, only a few people have climbed to the top of the pyramid. However, there are also parents who choose golf because they want to take advantage of the word "early", stand out in the circle where the competition is relatively small, and it is also of great help to study abroad. This is perhaps the main reason why parents choose this track. Even if you don't make it to the top of your professional sport, golf can be a stepping stone to a prestigious overseas school.
Back in China, the China Junior Golf Development Report (2023) shows that from 2021 to 2023, a total of 14 colleges and universities across the country have set up golf single-enrollment programs, with acceptance rates of 44%, 54% and 48% respectively. Of the candidates admitted in 2023, 65% are Level 1 athletes, 25% are Level 2 athletes, and 10% are athletes. In 2024, a total of 13 colleges and universities across the country will conduct golf single moves.
Returning to the "Zheng Qinwen phenomenon of golf" mentioned above, although Yin Ruoning may not be able to achieve the phenomenal circle-breaking effect like Zheng Qinwen, she also has the potential to set off the "Yin Ruoning phenomenon" in the field of golf, promote the continuous expansion of the golf population base, lay a solid foundation for the future development of the sport, and accelerate the popularity of golf in China.
This article is from the WeChat public account: Sports Economic Observation, author: Diego
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