HomeNewsMediaMultiple SportsGlobal

Global value of sports media rights hits $55bn, to top $60bn by 2024

Aaron Jones #33 of the Green Bay Packers celebrates in front a TV camera during Divisional Playoff game on January 12, 2020 (Photo by Gregory Shamus/Getty Images)

The global value of sports media rights reached $55.07bn (€52.37bn) this year and will break the $60bn barrier in 2024 as high-profile deals, including the new National Football League and Indian Premier League domestic rights contracts, take full effect.

According to the findings of SportBusiness’ recently published Global Media Report, the combined worldwide media rights value of all sports properties has increased by 1.1 per cent, from $54.45bn last year.

The global total is predicted to remain relatively flat in 2023 – rising by just 0.3 per cent to $55.24bn – before jumping by 10.2 per cent to hit $60.9bn in 2024.

Heavyweight domestic deals for the NFL and IPL will kick in next year while agreements for the Paris 2024 Olympics contribute towards the marked jump in that year.

The new SportBusiness report has adopted refined methodology to more accurately reflect how revenue is earned by biennial and quadrennial events, allocating their broadcast rights revenue to the specific year in which the event takes place instead of spreading the revenue evenly across a cycle.

In early 2021, the NFL signed a set of five landmark domestic rights deals with NBC Sports, ViacomCBS, Fox Sports, ESPN, and Amazon running from 2023 to 2033 that are collectively worth over $110bn. The league is also closing in on a new rights contract for NFL Sunday Ticket, its long-running, out-of-market game package.

At present, around 97 per cent of the NFL’s media rights income stems from its domestic market.

The new domestic rights deals solidify the US’ position as the most valuable sports rights market in the world at $24.85bn in 2022, according to the new Global Media Report.

The Indian subcontinent lies in 10th position with a combined media rights value of $1.2bn. However, the sale of domestic IPL rights from 2023 to 2027 will help drive up the total derived from the market. During its e-auction earlier this year, the Board of Control for Cricket in India (BCCI) raised a total of INR47,333 crore ($5.75bn/€5.47bn), equal to INR9,467 crore ($1.15bn/€1.09bn) per season.

The UK is the world’s second-biggest sports rights market, generating $4.75bn in 2022, while the Nordics ($1.28bn) is clearly the fastest-growing region in the top 10 on the back of Viaplay’s new deals for the English Premier League, Uefa Champions League, domestic ice hockey and football.

Meanwhile, at an uplift of 24.8 per cent, golf shows the highest growth percentage of all sports in global media rights value, reaching $1.32bn in 2022. Football remains the clear leader (at $21.85bn) ahead of American football ($8.49bn).

The 2022 Global Media Report breaks down the international broadcast rights market by sport, property and territory. It illustrates in detail the sports industry’s recovery from the global pandemic.

To download the Executive Summary, click here.