Nothing wrong with using social media, I don't think I said that. What I'm saying is:

Does your sport or activity relies on a venue?
Does your sport of activity rely on gate revenue to fund the event? (insurance, safety, etc)
Does your sport or activity rely on sponsorship or promotion dollars?
Would your sport or activity be meaningless without spectators or viewers?

Then I would think hard about strictly using social media.

I embellish, but imagine the NFL or NBA going underground and cutting out all of the media outlets completely. Broadcasting strictly on the web for free. It would suck.

Its apparent companies like Lucas Oil believe the sport of boat racing can be something big. Otherwise they wouldn't be involved.

Its a trickle down effect. If there isn't anything at the top to trickle down, then you're trickleless.