Sports leagues, which are already on course to take in $12.4 million this year from media rights, will see their annual revenue skyrocket to $17 billion in the next five years, according to a new report from PricewaterhouseCoopers.
And media rights—driven primarily by television—will grow faster than any other revenue streams for the leagues, PwC says. The report also says that sports provides a “safe haven” for the TV networks.
The Wrap points out that the networks are willing to pay top dollar for the rights to air league games, because advertisers will pay a premium for live viewers who can’t fast forward or skip ads.
The growth of new media platforms only adds to the leagues’ haul, effectively pushing the top end of rights deals higher, The Wrap writes.
Read More: The Wrap
Brief Take: With the rights to several leagues, including the NBA, becoming available soon, watch for the television networks to dig even deeper into their pockets to secure long-term deals.
Tags: