eBusiness Weekly
Professional services group PwC has released its annual Sports Outlook report, which forecasts that the North American sports market will grow at a compound annual rate of 3,2 percent, from US$71,1 billion in 2018 to US$83,1 billion in 2023.
The report analyses four sectors: Gate revenues, media rights, sponsorship and merchandising. PwC also assesses the potential impact sports betting will have in North America in the coming years.
Media rights are predicted to lead industry growth for the period assessed, with PwC forecasting that the value of the sector will increase from US$20,9 billion this year to$25,3 billion in 2023.
The compound annual growth rate of media-rights revenue for the assessed period is 4,6 percent — comfortably the highest rate out of the four sectors analysed.
PwC forecasts that media-rights revenue will enjoy 3,8 percent growth in both 2019 and 2020, and then rise by 4,1 percent in 2021. A significant increase of 5,6 percent is then expected in 2022 before a 5,9 percent increase is forecast in 2023. — Sportbusiness.com.
