Maynard: Major League Baseball’s record revenue year
From SABR member Micki Maynard at the Reynolds Center for Business Journalism on December 15, 2014:
If you’re a baseball fan, you’re probably getting emails offering you the chance to purchase season and single game tickets for 2015. And if you buy them before the end of the year, you’ll make 2014 even bigger for Major League Baseball.
Forbes reports that MLB expects to close out 2014 with approximately $9 billion in revenue, a new record. The figure is up $1 billion from 2013, or a 13 percent increase.
The jump is due to a series of reasons, led by television deals. New broadcast deals with network partners FOX, ESPN , and TBS added an additional $788.3 million a year to the league’s coffers, according to Forbes.
There also were giant sized local media rights agreements such as the one for the Los Angeles Dodgers that’s valued at between $7 billion and $8 billion (30 percent is distributed as revenue sharing). There also were multi-billion dollar deals for the Rangers, Angels, Mariners, Padres, Phillies, to be joined soon by the Astros, which is restructuring its broadcast deal.
Read the full article here: http://businessjournalism.org/2014/12/15/major-league-baseballs-record-revenue-year/
Originally published: December 15, 2014. Last Updated: December 15, 2014.