NBA annual revenue topped $10 billion for the first time ever

The NBA topped $10 billion in annual revenue for the first time ever in the 2021-22 season. The league also earned $8.9 billion in basketball-related earnings. This stems from team merchandise sales, sponsorships, ticket sales, marketing, television/streaming views.

When asked about these accomplishments, NBA commissioner Adam Silver released a statement to the press, “The numbers did surprise me to a certain degree because it exceeded, and the projections represent where we think our business is going. I think it’s quite remarkable from where we came two-and-a-half years ago.”

Read our list of the best NBA betting sites and sportsbooks in 2022.

NBA annual revenue reaches $10 billion

In October 2021, Silver projected $10 billion in revenue for the 2021-22 season. That was the league’s target goal. He made it a point to talk about the importance of cable television bundles as well. Regional sports networks are facing difficult challenges, such as cord-cutting.

Per CNBC financial analysts, approximately $2 billion of the league’s revenue is derived from media rights. Not to mention, the NBA earned $1.4 billion in sponsorship revenue. That is an increase of 50% from sponsorship revenue in the 2020-21 season. The league’s sponsors include Microsoft, State Farm, Nike, PepsiCo, Verizon, Google and other ones.

Considering professional sports leagues and people all across the world are still dealing with the COVID-19 pandemic, $10 billion in annual revenue is quite an achievement. By the end of the 2020-21 season, the league generated roughly $6.41 billion. Earnings were down 35% from accumulated NBA annual revenue the year prior.

Check out our list of the top 10 offshore betting sites in 2022. BetOnline and Bovada are offering $1,000 sign-up bonuses today.

The Lakers and Knicks are two of the highest earning teams

Interesting enough, the NBA earned $7.92 billion in the 2019-20 season. Before the 2021-22 season, Silver told the press, “We lost significant amounts of money. The good news is we’re able to take a long-term view of this business and continue to grow in it. We try to look at it as an ongoing investment in the business over a long period of time, as opposed to a loss of individual seasons.”

According to Statista, the Lakers generated the highest revenue for a team in 2021. The estimated amount is $316 million. Ranking second, the Knicks generated $298 million, followed by the Jazz ($262 million), Warriors ($258 million) and 76ers ($236 million). By team, the NBA annual revenue data for 2022 has not yet been released.

Moreover, per Forbes, the top 5 most valuable NBA teams in 2022 are the Knicks ($5.8 billion), Warriors ($5.6 billion), Lakers ($5.5 billion), Bulls ($3.65 billion) and Celtics ($3.55 billion). Despite remaining competitive and making it to the NBA Finals this past season, the Celtics have dropped a couple of spots on this list over the years. It can happen.

More news articles related to NBA revenue in 2022, the Lakers, Knicks and Warriors are on the main page. Feel free to check out the top sportsbooks for NBA betting below.

BetOnline, Bovada, BetUS and MyBookie are among the best online sportsbooks and betting sites for NBA betting. Read our list of the best online sportsbooks.

Published at Fri, 15 Jul 2022 00:38:37 +0000

Leave a Reply

Your email address will not be published.