A recent report from sports and entertainment marketing firm Two Circles found that the global sports industry totaled $170 billion in revenue in 2024. This marks a record high, surpassing the $159 billion generated in 2023.
“At a time of ever-increasing technological change and globalization, sports IP has become more valuable than ever,” Gareth Balch, Two Circles chief executive and cofounder, said. “Where other sectors struggled with the era of fragmenting media, sport was uniquely able to bring huge numbers of people together around screens and venues while giving them more in-depth opportunities to explore their fandom through digital platforms, ultimately delivering over a trillion hours of sports consumption last year.”
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Nineteen of the world’s top 20 sports properties reported year-over-year revenue increases last year, with 65% of these organizations growing faster than the overall market rate in 2024
Which sports properties saw the highest growth?
Nineteen of the world’s top 20 sports properties reported year-over-year revenue increases last year, with 65% of these organizations growing faster than the overall market rate in 2024, and 100% of them growing faster than the market over the last decade.
The NFL topped the list as the highest-grossing sports property in the world, bringing in nearly $14 billion in 2024, an 8% increase over 2023.
Meanwhile, the Hong Kong Jockey Club was the only organization in the top 20 to post a decline in revenue, which has been attributed to a post-pandemic shift in consumer behavior, with more fans preferring virtual wagering options over attending racetracks. Despite this, the club still made $5.4 billion in 2024, ranking it third globally.
What helped propel this growth in the sports industry?
The report noted that the record growth seen last year in the sports sector came amid several cyclical global sporting events. This included the 2024 Paris Olympic Games, which generated nearly $3.8 billion, and the UEFA European Championship, which earned around $2.5 billion.
How did smaller sports organizations perform?
Outside the world’s top 20 sports properties, however, financial growth was significantly lower. The remaining 480 sports organizations within the report’s top 500 saw collective revenue rise by just 1% in 2024, with some entities experiencing flat or declining income.
Looking ahead, Two Circles projects continued growth for the global sports sector, with revenue expected to reach $260 billion by 2033.
