Growth revenue in the sports industry

Throughout the previous series, our attention was first focused on ownership in sport – from private equity and sovereign capital to celebrity-backed clubs. We’ve also covered how traditional revenue streams (media rights, matchweek, merchandise, sponsorships) underpin sport’s commercial foundation. That still matters, but in many markets, those channels have matured – some even reaching a plateau. 

So where does real growth come from next? Entering from stage left, growth revenue – the third pillar in our Modern Sporting Landscape. It’s about new business models, new audiences, new formats and new platforms – revealing how sport is expanding beyond its traditional revenue borders. We’re not talking about a few peripheral innovations. We mean structural change in monetisation and experience. In short: revenue is following relevance. 

Four frontiers of growth 

Here’s a snapshot of the areas we’ll be exploring in greater detail across the series: 

Part one: Women’s sport 

The women’s sports revolution: Unlocking the untapped market 

• 2 billion+ viewers tuned into the 2023 FIFA Women’s World Cup – almost double the 2019 figure 

• Revenue crossed US $570 million, marking its first breakeven 

• WNBA ticket sales leapt 93 percent in 2024, propelled by new stars such as Caitlin Clark, coupled with strategic storytelling  

In next week’s part one, we’ll examine: 

• Why markets, brands and broadcasters are reevaluating women’s sport 

• How digital engagement – and fan behaviour – is driving monetisation 

• What leading brands and rights holders are doing differently 

• What still blocks scale, and how to overcome those challenges 

Part two: New sports, formats & markets 

The rise of reinvention: New leagues, formats and global expansion 

Emerging sports and reinvented leagues are shifting both the product and the geography of growth: 

• Padel now boasts over 30 million players in 130 countries, making it one of the fastest-growing sports globally  

• The global padel market reached about €2 billion in 2023 and is projected to triple by 2026  

• Innovative leagues – The Hundred, LIV Golf, Pro Kabaddi – are simplifying formats for scale and accessibility 

In part two, we’ll dig into why format innovation and geographic expansion offer a new growth axis – and how leaders balance tradition with transformation. 

Part three: Esports & gaming 

The next-gen arena: Lessons from the digital-first gaming ecosystem 

Esports isn’t just competing – it’s coexisting and sometimes dominating: 

• Industry projections estimate 640 million+ esports viewers globally by 2025, matching or exceeding some traditional sports viewership  

• In North America, 2021 esports viewership (~84 million) was surpassed only by the NFL (~141 million)  

Part three will explore: 

• How win-win collaborations between traditional and gaming worlds are forming 

• What esports teaches us about community, engagement and monetisation 

• Which models work – and which haven’t – in bringing these audiences together 

Part four: Digital & experiential fan engagement 

Reimagining the fan: From stadium moments to year-round experiences 

The fan journey today is continuous, personalised and platform-centric: 

• 62 percent of Gen Z and 66 percent of Millennials say they’d pay for a VR ticket to sit courtside from home 

• AR and VR offers – from in-game overlays to virtual stadium tours – are delivering both engagement and monetisation opportunities 

In part four, we’ll cover: 

• The shift to immersive formats (VR, AR, interactive live content) 

• How data and personalisation are unlocking new revenue layers 

• Why year-round engagement is the ticket to sustained fan value – not just matchday spikes 

Final word 

This series is not about predicting future wildcards – it’s about spotlighting where growth is already materialising, and mapping what comes next. 

Each of these four areas represents a clear commercial frontier: 

1. Women’s sport

2. New formats and geographies 

3. Gaming and esports 

4. Digital and experiential fan ecosystems 

Sport has entered the era of infinite arenas. Next week, we kick off with part one exploring women’s sport.