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Global sports industry revenues predicted to reach US$260 billion by 2033

Global sports industry revenues predicted to reach US$260 billion by 2033
March 12, 2024

A newly-released report from sports marketing agency Two Circles has predicted that the global sports industry will be worth $260 billion by 2033.

Assessing the market as currently generating US$159 billion in annual revenue, Two Circles anticipate 5% annual growth each year between now and 2033, the report says the expansion will be driven by three primary factors - growth in audiences and consumption, more diversified sports experiences, and sports properties increasingly capturing more value through direct relationships.

The report explores how organisations across the sports industry can ‘ride the wave’ of growth over the coming decade, forecasting that growth will be fuelled by the biggest sports properties, with 55% of the top 20 organisations projected to outperform the market.

One key area of growth it identifies is women’s sports, which has already been predicted to hit US$1.28 billion this year.

Sports properties are also predicted to evolve their offerings to present more varied experiences, engaging broader demographics and better serving existing casual fans. Additionally, sports IP owners are expected to leverage direct relationships with their fan base and business partners.

Commenting on the findings, Two Circles Chief Executive and co-founder, Gareth Balch “by knowing fans best, sports organisations will build better sports products, experiences and opportunities, creating better value for everyone. Ultimately, the fans will be the real winners of this exciting growth in years to come.

“As the global sports industry stands on the brink of this transformative growth, the Two Circles magazine serves as both a forecast and a call to action. It is essential for sports IP owners to adapt, innovate, and focus on the fan experience to realise their full potential in the coming decade.”

Two Circles works with more than 400 sports properties around the world and manages fan data interactions on behalf of its clients.

Image credit: Shutterstock.

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