Sports industry: Bouncing back

PwC’s Global Sports Survey (7th edition)

6.9%

growth predicted in Australasia in the next 3-5 years will likely be super-charged with the decade of global sporting events to come
71%

of experts expect women’s sports revenues to grow by more than 15% in the next 3-5 years
83%

of executives believe that institutional investment will continue to grow in the next 3-5 years
39%

of sports executives reported prioritising a balanced approach to environmental, social and governance

PwC’s seventh annual Global Sports Survey was completed by over 500 senior sports leaders from across 43 countries.

Overall, global respondents are confident and optimistic, and believe that the industry is recovering well from the paralysing impact of the COVID-19 pandemic. Growth estimates within our Australasian region are particularly strong compared to the previous 3-5 years, which is to be expected given the decade ahead of major sporting events coming to our shores, from this year’s FIFA Women’s World Cup, to the 2026 Commonwealth Games in Victoria, Men’s and Women’s Rugby World Cups and of course, the 2032 Olympics and Paralympics in Brisbane.

This year’s report identifies the key initiatives contributing to the growth of women’s sport, highlighting the important role the media must continue to play.

Women in Sport

50% of survey participants felt that widening media coverage would have the greatest impact on the growth of women’s sports

The media coverage of the 2021 Women’s Rugby World Cup in New Zealand (rescheduled to 2022 due to the COVID-19 pandemic) saw sold-out stadiums breaking ticketing records and unprecedented levels of media coverage.

This is expected to be bettered in 2023, with the FIFA Women’s World Cup coming to Australia and New Zealand. Early ticket demand has been very strong, with Australia’s Matildas opening game against Ireland being moved to the 83,500 seater Stadium Australia, due to the level of demand for tickets. This interest is expected to translate to record levels of viewers worldwide, driven by an increase in the number of teams competing (up from 24 teams in 2019 to 32 in 2023) and an increase in programming and viewership of women’s sport.

ESG in Sport

48% of executives feel that changing organisational culture is the most significant challenge when implementing a comprehensive ESG strategy

Aspects of environmental, social and governance (ESG) considerations are garnering ever increasing attention as sporting authorities seek to make major events more sustainable and inclusive. Given the spotlight that will shine on Australasia as we host a Football World Cup, Commonwealth Games, Rugby World Cups, Cricket World Cup, Olympics and Paralympics in the next decade, local sporting executives will need to pay particular attention to the environmental and social impacts and opportunities these events will involve. This will include carbon-positive sporting events; recognition of First Nations lands and their peoples; and equity of access and inclusion to participate in these amazing cultural touchpoints.

In addition, respondents recognised the increasing interest from big tech in sport and the impact this might have on future media rights values. For the first time, industry leaders have pointed to the challenges of realising returns on the continued investment in data-led growth strategies.

Our Global Sports Survey also highlights a growing, albeit cautious focus on Web3; and the continued, smart stadia-led developments focused on enhanced fan experience and diversified revenue streams.