The author carries out historical and sociological analysis of formation processes of modern sports as an industry. The transformation from the game paradigm to sports promoted development of modern sports and made it an important social phenomenon. The reasons and consequences of spreading of new sports practices in 19th - 20th centuries are analyzed. The development of the international sports movement became a determining stage in formation of sports industry. The basic reasons of sports practices transformation are: specialization of sports activity, differentiation of kinds of sports, standartization of competition rules and norms, growth of the international competitions quantity, increase of number of the sports show participants such as the sportsmen, organizer etc. These processes were conducive to the development of sports media, sponsorship, manufacture of clothes and equipment, formation of an infrastructure. The modern stage of sports industry development is connected with globalization of sports' activity. On the other hand, the participation in sports became an attribute of progress while sports themselves were reduced to an industry.