COrrect- BUT it's not being run correctly and no change seems to be coming. Most of the guys in this multi-million dollar industry are living on the edge of the law and check to check. They are not being rewarded for their sacrifices.
You have to seperate professional bodybuilding from the multi-million dollar supplement industry. The vast majority of people who train and take supplements have absolutely no interest in pro bodybuilding. I know a hardcore gym with over 1000 members in London that was not able to sell 20 tickets to the British GP held 10 miles away.
As much as I'd like to see the sport grow, in it's current state it's reached it's peak, and you only have to look at the falling attendance and failure of shows to see that the interestest is falling.
The Arnold Weekend has grown into one of the largest sporting events in the world but the bodybuilding event only attracts the same number of people as it did 10 years ago. If Arnold can't pull them in, nobody can.
Competiotion between Walmart and Target is good for employees and consumers because the profit margins are so huge that the companies can absorb increased costs. Show promoters do not have that luxury. Limited demand from fans, means limited support from sponsors.
The majority of people who read bodybuilding magazines are not interested in the competions thenselves only the athletes physiques.
The Ironman Show is held in the body image capital of the world but can't sell out despite it being an established show and recieveing plenty of advertising.
A proliferation of new federations is not going to improve the financial earning capacity of the athletes because it't not going to put more fans on seats.