The NFL’s Very Profitable Existential Crisis

Did you know? The NFL is the largest single entertainment property is the U.S. w/ $14B in revenue and recently set a goal of$25B for annual revenue by 2027!

Bad news: TV ratings were down 17% over the past two seasons.

Average TV viewership per game:
1) 2017–16.1M
2) 2018 (weeks 1–2) — 15.7M

Good news: The Carolina Panthers sold for $2.3B last May and the average team is worth $2.6B!

Top 5 NFL team valuations according to Forbes:
Dallas Cowboys — $5B
New England Patriots — $4B
New York Giants — $3B
Los Angeles Rams — $3B
Washington Redskins — $3B

Total league revenue is up 47% since 2012.

Financial performance of average team:
Revenue — $427M
Profit — $95M

More #1: NFL Is Back, Ad Pricing Remains High

More #2: Despite Declining Ratings and Protest Controversy, the NFL TV Ad Market Is as Strong as Ever

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