If I could trade it, I'd be short football right now, both college and pro. It's at its peak, or reached it a couple years ago.
CTE and the 3+ hour, slow plodding format of the game being the two primary reasons.
Fewer kids are playing, which over time will lead to fewer fans. Add to that reduction in discretionary income that will only become more dramatic when a recession comes around.
The format is not suited for the digital age, like someone above said, even RedZone has gotten boring. People don't want to spend all day watching a 3+ hour game that condenses down to 15 mins of actual play. Many kids "watch" a days worth of football in 4-5 mins using Snapchat stories and the like.
Add to that oversaturation, CFB and NFL chew up 4 out of 7 nights with what often amounts to low quality games.
There are legit rules changes that could be made to make the sport more likely to succeed in the future, without dramatically changing the game, but the traditionalists and Sears-esque issue deniers will cry like babies about "wussification" if anyone actually tries to save the sport they themselves are suffocating.
- Reduce NFL to 12 or 13 regular season games + playoff, college to 9 games + playoff,
- reduce games to 12 minute quarters,
- keep a running clock until the last two mins of the halves.
- Cut out 40% of commercial breaks
- superimpose commercials on the field/sidelines and run 5 sec commercial clips in a box between plays.
- Simplify rules around catches, football moves, possession
- Eliminate kickoffs or move them to the 40+ yard line (basically just to allow for onside kicks) - touchbacks come out to the 30yd line.