The global value of sports media rights has increased to a record high of almost $56 billion (€51.1 billion/£44.7billion), or 2.4% more than last year.
According to the SportBusiness/SportBusiness Global Media Report 2023., global value of sports media rights will also exceed $60bn for the first time next year as the Paris 2024 Olympic Games and 2024 Uefa European Championship add weight to the total.
It adds that the increased value of media rights – sport’s biggest revenue stream – comes despite a turbulent period across the sports media landscape as broadcasters focus on profitability amid financial and structural challenges.
As well as providing an overall total, the Global Media Report lists the top 10 sports, properties and markets by global media rights value.
This year, the top sport is football (soccer), which has a global media rights value of $19.183 billion (a 34.4% total share). The top individual property is the National Football League (NFL), which has a global media rights value of $12.433 billion (22.2%). And the top market is the US, which has a global media rights value of $27.521 billion (49.2%).
Commenting on the findings of the report, Callum McCarthy, SportBusiness editor in chief, said: “The global value of sports media rights has increased to just under $56bn and will pass $60bn in 2024 thanks to the Olympic Games in Paris and Uefa Euro 2024. This growth is occurring despite years of turbulence that began before the Covid-19 pandemic as media businesses run toward profitability rather than expansion.
“Most European football leagues are struggling to grow their media revenues beyond current levels, but global sport reaches far beyond five leagues in five countries. Properties such as the NFL, NBA, Uefa Champions League, Formula 1, IPL and WWE are performing strongly and will continue to do so throughout the decade, and major sporting events such as the Fifa World Cup and the Olympic Games are still yet to reach their peak commercial potential”.
