2024/25 NFL Season Business Preview: Major Commercial Trends Shaping the League

The 2024/25 NFL season kicks off tomorrow with the reigning champions, the Kansas City Chiefs, facing the Baltimore Ravens. While the on-field excitement builds, the league is set for another year of significant business developments off-field, continuing its dominance as the world’s most profitable sports league.

Ministry of Sport is looking at the storylines shaping the business landscape this season include:

• Media rights and streaming
• International markets program expanding
• New team ownership and rules
• New venue technology and innovations
• Fan experience

Media Rights and Streaming

The NFL’s 2023 media rights agreement, valued at $110 billion over 11 years, has reshaped the league’s broadcasting strategy. The deal involves long-term partnerships with Amazon, CBS, ESPN, FOX, and NBC, marking one of the largest media agreements in sports history. Amazon’s $1 billion per season deal for exclusive “Thursday Night Football” streaming rights reflects the NFL’s pivot towards digital consumption. CBS and ESPN, meanwhile, secured rights to broadcast Sunday and Monday games respectively, with additional digital content available on CBS’s Paramount+ and ESPN’s streaming platforms.

These deals ensure that the NFL continues to dominate both domestic and international markets, expanding the league’s global reach and making it easier for fans to access games via streaming services. With streaming numbers continuing to climb, these deals will play a crucial role in the NFL’s ability to reach younger, tech-savvy audiences.

Global Markets Program Continues to Expand

The NFL’s Global Markets Program, launched in 2022, is gaining momentum, with 25 teams are participating across 19 international markets. The unique program allows franchises to acquire international marketing rights in specific regions for a minimum of five years, allows teams to engage with fans through events, sponsorships, and merchandise sales. For example, teams like the New York Giants have secured rights in Germany, while the Miami Dolphins expanded into Argentina and Colombia in 2024.

This year’s expansion brings new territories, such as Nigeria, where the Cleveland Browns now hold rights, and Argentina and Colombia, awarded to the Miami Dolphins. Other new markets include Japan and South Korea, with the Los Angeles Rams taking lead. Existing participants like the Seattle Seahawks and New England Patriots have also added more countries to their portfolios, signaling continued growth and investment in international fan engagement.

In Australia, the Los Angeles Rams and Philadelphia Eagles hold marketing rights. You may have noticed promotional efforts like flag football events, school programs, and cross-code partnerships with AFL and NRL teams, helping to introduce and integrate American football into the Australian sports culture.

Stadium Development and Renovations

The 2024/25 season will see continued investment in state-of-the-art stadiums, designed to enhance fan experience and boost game-day revenues. Leading this charge is the Buffalo Bills, whose $1.7 billion Highmark Stadium—partially funded by $850 million in public money—is set to open by 2026. The stadium will feature cutting-edge technology and upgraded amenities, ensuring it becomes one of the league’s most advanced venues.

Other franchises are also undertaking significant renovations. The Baltimore Ravens are in the midst of a multi-phase redevelopment project that includes the addition of advanced fan amenities, upgraded seating, and improved in-game digital features​. These developments are not only designed to improve the in-stadium experience but also to increase ticket sales and fan attendance.

Strategic Partnerships and Sponsorships

NFL sponsorship revenue is projected to surpass $2 billion in 2024, with key commercial deals across technology, beverage, and sports betting sectors driving growth. FanDuel and DraftKings alone contribute $260 million annually to the league’s bottom line, integrating sports betting into the fan experience and creating new avenues for engagement.

Among the top sponsors is PepsiCo, which continues to support the NFL through brands like Gatorade, Tostitos, and Frito Lay to connect with fans at entry level. Technology is another major driver, with brands like Microsoft and Intel investing heavily in the league’s digital transformation. These partnerships aim to improve the fan experience, both at home and in stadiums, by providing advanced tools for data analytics, virtual reality experiences, and real-time updates.

Marketing and Viewership Growth

The NFL’s ability to consistently attract massive audiences is central to its commercial success, highlighted by the league’s record $110 billion media rights deal. In 2023, NFL games accounted for 75 of the top 100 most-watched U.S. TV broadcasts, according to Nielsen data.

Viewership increased by 7% during the 2023/24 season, with several factors contributing to this growth. One of the most prominent was the “Taylor Swift Effect.” Games she attended, such as the Chiefs vs. Jets matchup, saw viewership surge to 29.4 million, and her presence drove ratings higher across subsequent broadcasts. This spike in interest led to a 53% increase in viewership among females aged 12-17 and a 34% rise among females aged 35 and above.

Teams like the Philadelphia Eagles and Buffalo Bills also saw substantial fanbase growth, fueled by strong on-field performances and expanded media coverage. As international games become more frequent and digital streaming platforms continue to grow, the NFL projects even greater viewership increases in 2024/25, particularly in international markets where American football is gaining popularity.

New Team Ownership and Governance

The involvement of private equity in sports team ownership has become a significant trend, and the NFL is now pushing this movement to new heights. In recent years, several major sports leagues have allowed private investors to enter the ownership space, with the NFL recently approved private equity investments in their franchises.

• 2019: MLB allowed private equity investors to own minority interests in multiple teams.
• 2021: NBA, MLS, and NHL introduced similar policies.
• 2022: European soccer clubs saw a significant influx of private capital.
• 2024: The NFL will begin permitting institutional capital into team ownership structures.

The 2023/24 NFL season witnessed one of the most high-profile ownership changes in league history with the sale of the Washington Commanders. Josh Harris, a private equity veteran and co-owner of the Philadelphia 76ers, led a group that purchased the Commanders from Dan Snyder for a record $6.1 billion. The sale marked the largest acquisition in NFL history and highlights the trend of increasing franchise valuations, with all 32 NFL teams now valued at over $4 billion.

While the NFL’s new rule allowing teams to sell up to 10% minority stakes to private equity firms streamlines capital inflows, it also raises important governance questions around strategic control and the long-term impact on the league.

New Technology: High Performance, In-Stadium and Digital Innovations

Fan engagement remains central to the NFL’s growth strategy, with technologies like virtual reality (VR) and augmented reality (AR), the NFL is creating immersive experiences for fans both at home and in the stadium.

• Immersive Experiences: Franchises are adapting VR and AR to allows fans to virtually visit iconic stadiums, participate in behind-the-scenes locker room tours, and even experience the game from a player’s perspective.
• High-Performance Tech: Minnesota Vikings, New England Patriots, Tampa Bay Buccaneers, and Dallas Cowboys use VR systems from Strivr Labs to enhance player preparation, simulating game scenarios and helping players make decisions under pressure in a risk-free environment.
• Mobile Engagement: 5G Stadium upgrades and apps provide fans with live updates, in-depth stats, and fantasy football integrations, keeping them connected throughout the game.
• In-Stadium Enhancements: Real-time betting platforms and AR features create interactive experiences, allowing fans to engage with the game in new ways.

The NFL’s partnership with Nickelodeon continues to showcase innovative AR tech aimed at younger audiences. The 2022 Cowboys vs. 49ers wild-card game featured “Nickified” elements like virtual slime cannons and vibrant AR overlays, creating a playful viewing experience that attracted 41.5 million viewers, making it the most-watched NFL wild-card game in seven years. Nickelodeon have confirmed they’re bring back this broadcast for the 2024 playoffs, promising another interactive, slime-filled broadcast for a new generation of fans.

 

 

 

 

 

 

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The NFL’s Global and Commercial Leadership

As the 2024/25 NFL season kicks off, it highlights the league’s ongoing evolution as a global leader in sports. This season’s commercial innovations are poised to shape not only the future of the NFL but the entire sports industry. With franchise valuations now exceeding $4 billion, it begs the question: if someone wanted to buy the entire NFL, what would the price tag be? $200 billion? The NFL remains one of the most valuable and coveted assets, consistently capturing unparalleled live viewership.

Both fans and industry insiders can expect a season filled with exciting games and groundbreaking business developments, marking what could be one of the most influential seasons in NFL history.

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