🏟 NFL dominates American sports revenue

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Welcome to this week’s edition of Sports Industry Weekly as we share insights from the most significant business headlines in the sports industry, including:

💰 2023 NFL global revenue rivals the combined totals of MLB and NBA.

🐅 The second highest NIL valued student-athlete announces her return to LSU.

⚾️ A rookie pitcher makes MLB All-Star Selection history.

🇺🇸 Team USA Basketball star officially becomes the face of adidas.

NFL DOMINATES AMERICAN SPORTS REVENUE

The NFL remains the king of American sports revenue as Sportico reported that the league’s 2023 national revenue hit $13 billion (the global revenue is closer to $20 billion). The total amount represents media rights, league sponsorships and shared revenue and royalties from the league’s various affiliates and subsidiaries.

To compare the NFL’s 2023 global revenue to the other leading American sports leagues:

1. 🏈 NFL - $20 billion

2. ⚾️ MLB - $11.6 billion

3. 🏀 NBA - $10 billion

4. 🏒 NHL - $6 billion

It’s clear the NFL will continue to experience unprecedented growth, fueled by record-setting media deals and global monetization opportunities.

As demand for football continues to rise, so does the need for talent and workforce across the industry. If you’re looking to start or advance your career— make sure to check out all of the latest job openings at the NFL, teams and sports brands by visiting SBV’s Job Board.

🤸‍♀️ Olivia Dunne announced to her Instagram audience of 5+ million followers that she’ll be returning to LSU for a fifth year. Worth nearly $4 million in NIL, she trails only Colorado QB Shedeur Sanders in On3’s NIL valuation charts. 

🎮 Jayson Tatum, A’ja Wilson and Vince Carter (Hall of Fame Edition) are the cover athletes for NBA 2K25. With over 149 million units sold or downloaded, the NBA 2K series stands as the second highest-selling franchise for video game publisher Take-Two Interactive (only to trail their Grand Theft Auto series).

🏒 NHL and New Era announce a multiyear agreement for the brand to produce hats and apparel for all 32 hockey teams. Starting in the 2024-25 season, product collections will feature current NHL and team logos, vintage marks and event logos for the NHL Winter Classic and the NHL Stadium Series.

🏀 The NBA has finalized their TV rights deals with ESPN, NBC, and Amazon at a record 11-year agreements worth $76 billion. TNT (Warner Bros) can still match but if the network doesn’t, the 2024-25 season will be Inside The NBA’s final season.

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⚾️ Paul Skenes became the first player in MLB history to make an All-Star team just one year after being the first-overall selection in the MLB Draft (his girlfriend, LSU star Livvy Dunne, surprised him after the announcement). The 2024 MLB All-Star game will be held on July 16 at the Texas Rangers’ Globe Life Field.

👟 Anthony Edwards has secured a multi-year extension with adidas, earning an impressive eight-figure annual sum. As the superstar leader of the Timberwolves, he has undeniably become the face of adidas Basketball, while his off-court business ventures flourish. His trajectory is set to soar even higher if he emerges as Team USA’s “No. 1 option” and clinches an Olympic gold medal in Paris.

🧃Both Gatorade and PRIME are making significant culturally-relevant collabs in the sports hydration market, and we'll be closely monitoring the ongoing competition between Athlete Brands and Creator Brands. Gatorade recently launched two apparel collaborations: one with LeBron’s Uninterrupted and the other with designer Eric Emanuel. Logan Paul’s PRIME partnered with 3x Olympic Gold-Medalist Kevin Durant for a special edition USA themed energy drink. PRIME hit $1.2 billion in annual sales in two years, now second to Gatorade in sports beverages (Lionel Messi also recently launched his own sports drink, Mas+).