We know that the NFL is a big business. The 11-year, $110 billion media rights contract the league agreed to with its partners back in 2021 added another layer to this.
NFL team valuations are on the rise with the Dallas Cowboys valued at a projected $9 billion by Forbes in its latest estimates.
Media rights, ticket sales, concessions and merchandise all play a role in the NFL being the single-most popular professional sports league in North America.
We now have more evidence pointing to this. The Green Bay Packers released their national revenue total for the 2023 season. It came in at a whopping $402.3 million, mostly in media rights. The Packers have to release their figures as they are publicly owned.
If we multiply this total by the 32 NFL teams, it comes out to $12.97 million. That’s an increase of $11.98 billion from the 2022 campaign and is up 36% from the 2019 season.
NFL continues to be big business
That 36% increase from 2019 is astounding given the economic impact stemming from the COVID-19 pandemic and the 2020 season.
Despite what people want to say about NFL Commissioner Roger Goodell, he has overseen one of the greatest economic growths for a professional sports league in history.
“These new media deals will provide our fans even greater access to the games they love. We’re proud to grow our partnerships with the most innovative media companies in the market,” Goodell said after the league signed its media rights deal in 2021. “Along with our recently completed labor agreement with the NFLPA, these distribution agreements bring an unprecedented era of stability to the League and will permit us to continue to grow and improve our game.”
He’s not wrong. These new numbers point that out in a big way.