Today, the NFL is no longer an independent entity but a multi-billion-dollar global enterprise.
The league has become the world’s biggest spectator sport, generating billions of dollars in revenue each year.
That’s why, even as the league’s popularity continues to grow, many analysts are concerned about the league taking on more and more of a bigger role in the lives of its fans.
The NFL, which is worth an estimated $2.7 billion, has made headlines with its participation in Super Bowls and the Super Bowl XLVII, when the Pittsburgh Steelers won Super Bowl XXXVII, the most expensive sporting event in history.
A report by Sports Business Daily estimated that in the coming decade, the league will be responsible for over $6 billion in revenue, with another $1 billion in annual television revenue.
However, those numbers are not just for the NFL.
The NBA has also been growing rapidly.
In 2018, the NBA will make over $7 billion in total revenue.
That number will increase by $5 billion to $9 billion in 2019.
The NHL, which has a market value of $3.4 billion, will be able to double that number to $5.6 billion.
While many pundits have been predicting a boom for the league, many of the analysts were skeptical.
According to Forbes, “Even before the NBA’s massive 2018 season, the numbers are already off the charts.”
The Forbes article also noted that, “It’s becoming apparent that the NFL’s success is a product of its huge popularity and the fact that it’s able to capitalize on a new generation of young fans who aren’t part of the traditional sports market.”
While the NFL does make money, the number of fans who pay to see the games is not as high as it once was.
Forbes stated that the average ticket price has gone up by almost 50% since the NFL first began hosting the Superbowl in 1960.
With a declining attendance rate, some analysts are worried that the league could have to spend more money on marketing and advertising to entice fans to stay and support the game.
The NFL has also taken steps to diversify the revenue stream by creating a partnership with Ticketmaster, a service that allows fans to purchase their tickets for $10 a pop.
However, that doesn’t seem to have translated into a larger amount of money being made by the league.
In addition, the popularity of the NFL has grown over the past decade.
According the Forbes article, “The league’s revenue has more than doubled from $2 billion in 2017 to $3 billion in 2020, according to the Sports Business Journal, and the league expects that figure to reach $5-6 billion this year.
However it’s not just revenue that’s growing.
The team and player popularity of players has also grown exponentially.
According a new study by Sports Marketing International, the average attendance for the last five years has risen from about 35,000 fans per game to more than 400,000 per game.
In 2020, the same study predicts attendance will rise to about 1.2 million fans.”
What do you think about the NFL becoming more involved in your life?
Do you agree with the Forbes’ report that the “NFL’s success has a product that’s a product?”
Let us know in the comments section below.
Image Credit: Getty Images, Michael Pina