Report: PricewaterhouseCoopers Outlines Future of North American Sports Betting, Media Rights Through 2023
PwC released its annual Sports Outlook report, forecasting that the North America sports market will grow at a compound annual rate of 3.2%, from $71.1 billion in 2018 to $83.1 billion in 2023.
- Sports gambling is boosting fan engagement: For example, the percentage of NFL fans who are more likely to tune into a game that they have wagered on has been pegged at 75%, according to a recent American Gaming Association (AGA) study.
- Sports gambling legalization continues to grow across the nation: The landmark Supreme Court ruling of 2018 that turned the legalization of sports gambling to a state-by-state issue will prove to be a major catalyst for industry growth. As much as two-thirds of all US States will have legalized some form of sports gambling by 2021.
- Media rights values will only increase: New bidders outside of the traditional network and cable TV providers (such as streaming services), combined with increased viewership tied to legalized sports betting has made the reopening of media rights deals a potentially lucrative moment for leagues. PwC forecasts a compound annual growth rate of 4.6% for media rights.
For the full report, click HERE.