Source: GlobalData
2024 World Series to generate estimated $814.80 million in sponsorship revenue, reveals GlobalData
Posted in Sport
With 47 brands sponsoring the 2024 World Series, the competition’s largest sponsorship deal in terms of annual value is joint between both Nike and SeatGeek, both worth a reported $100 million each. SeatGeek has agreed a five-year deal to become the official secondary ticket marketplace of MLB, as of the 2023 season. Nike has agreed a 10-year deal, which came into effect in 2020 and sees the brand serve as MLB’s kit supplier. Overall, the competition is estimated to generate $814.80 million in sponsorship revenue for the 2024 season, reveals GlobalData, a leading data and analytics company.
GlobalData’ s latest report, “Post Event Analysis – World Series 2024”, reveals that the event generated a reported $714.29 million from domestic media revenue. Fox has agreed the rights in the US to broadcast the World Series. The 2024 World Series winners, Los Dodgers, are expected to receive around $35 million in prize money.
Olivia Snooks, Sport Analyst at GlobalData, comments: “It is worth noting that the World Series portfolio reflects the brands, which have agreed to sponsor the Major League Baseball (MLB) 2024 season, including the World Series. Aside from the largest sponsorship deals in terms of annual value, Fanatics has agreed the longest deal in terms of contract length, with the partnership set to run for 17-years.”
In terms of viewership for this year’s World Series, the competition drew more than 30 million combined average viewers across North America and Asia. As reported by Fox, World Series viewership in the US averaged 15.8 million across its platforms, a 67% increase compared to the 2023 edition and the most watched series since the seven-game 2017 World Series. The World Series delivered for Fox the most-watched single-network telecast across all of television on each of the five nights games were played.
Snooks continues: “The primary reason for such high viewership was that the two teams playing, the LA Dodgers and the New York Yankees, play in the two largest television markets accounting for over 10% of the US population.”
The 2024 World Series saw a total attendance of 253,104 over five games, making the average attendance per game 50,621. This is the highest average attendance of the World Series since 2003. In terms of ticket prices, according to reports, these were among the most expensive in MLB history. Leading up to Game one in LA, the average price for a World Series ticket in the secondary market was $3,887, according to ticket reseller TicketHQ.
Snooks concludes: “According to ESPN, the Dodgers and the Yankees have the top two highest averages in terms of attendance across the 2024 MLB season. The high attendance numbers at this year’s World Series reflects both team’s huge fanbases.”