MLB brings in record revenue in 2010
An economic decline over the last few years have been difficult for many businesses, including professional sports teams and leagues, but 2010 proved to be a successful year for Major League Baseball. While attendance was down 0.6 per cent, compared to 6.6
per cent in 2009, overall revenue rose 4.5 per cent to a record $7 billion.
"There's no question, this is the golden era for the sport and given the economy this may be the most remarkable year we ever had," said MLB Comissioner Bud Selig. "Every economic option in our business is up this year. We're at numbers nobody ever thought
possible."
Team’s values are also still strong according to Selig, who pointed out last year’s league-record sale of the Chicago Cubs for $845 million. Forbes estimated that the average team value rose two per cent to $491 million in 2010.
"It's just not an upward curve, straight up, forever. We understand that," said St. Louis Cardinals president, Bill DeWitt III. "There are certain revenue categories that the economy has really hit hard, but we've been very resilient."
Television broadcasters have been pleased with the revenue MLB has brought in for them as well. Fox sold every ad spot for the first five games of the World Series at $450,000 per 30 seconds. Each game has roughly 70 spots, meaning over $30 million in revenue
per game.
"We're very happy with where baseball is today," Fox Sports President Eric Shanks said. "If the deal was up this year, I think you would see Fox definitely at the table for renewal."
There are certain things that people look at when an economy is recovering, and one of those things is professional sports. If people have enough money to spend some of it on professional sports, the economy must be looking up.
Tags: