This is a great thread. I do have a couple of points to add.
I think the subject line, "baseball's falling popularity..." is a misnomer. I do not think that baseball's popularity is falling, and the numbers support me. Major League Baseball attendance in 2013 was its sixth best EVER. Using 2011 figures, Major League baseball was the top drawing professional sports league in the world for total attendance, and the fifth in the WORLD in terms of average attendance.
That's fifth in the world. The NFL is #1, growing an average of just over 67,000 per game - but I think comparisons between baseball and football are not apples to apples comparisons. I suspect that if baseball teams played in 80,000 capacity stadiums, 8 home games a year on days everyone has off, when the weather is cold and miserable, we might see different average attendance than we do when they play 81 home games, mostly at night, during the week, when the weather is more pleasant.
I think the same might be the case for television revenues.
In terms of collecting, my feeling is that the internet has taken its toll on a lot of different pastimes - including sports cards. That being said, I work with kids from 7 through 14 in two different youth baseball leagues and I'm impressed by the number of them that buy cards, as well as the number that seriously collect older ones. Frankly, it doesn't seem to be that much different, percentage-wise, than it was when I was a kid in the late 70s and early 80s. Perhaps since we're not kids ourselves, we're just not exposed to as many kids - and what they do - than we were when we were younger. Maybe it doesn't seem like kids collect because we aren't around kids as much as we were when we were kids ourselves.
To me, the card hobby seems to be big enough to sustain several manufacturers, who make multiple sets a year in multiple sports (and non-sports), and keep putting out new sets. It supports a secondary market that thrives on eBay and in what seems like a thousand different auction companies, three grading companies and three autograph authentication companies and umpteen message boards.
Ultimately, I think the sports card hobby will be just fine, for a long time. It may continue to change and evolve, it may experience rough patches, but I don't see it disappearing.
-Al
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