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Euro 2024: Let The Games Begin

June 21, 2024

Euro 2024: Let The Games Begin - SBI Barcelona

As per budgeted estimates by UEFA, Euro 2024 is expected to generate revenue of €2.4bn which is 25% higher than the 2016 revenue (discounting the 2020 figures as it was severely impacted by the effects of pandemic)

In this post, we will explore contribution of each of the three revenue streams, namely broadcasting, sponsorship and ticketing in the total budgeted revenue

The previous part was about the tournament’s importance to UEFA, the prize money distribution table and the possible economic impact for Germany, the host nation and can be read here

Broadcasting

€1.44bn, that is 60% of the budgeted €2.4bn generated by Euro 2024 is expected to be delivered by the broadcasting revenue stream which makes it important for the tournament to have a high viewership.

To compare, Euro 2020 was a big moment for UEFA in broadcasting as the tournament delivered a cumulative live match audience of 5.23 billion and a unique reach of 1.9 billion. The final generated an average viewership of 328 million viewers globally, while the average worldwide audience for each game was more than 100 million. That’s close to the same number of people who watch the Super Bowl

Euro 2024 looks certain to be delivering more going by the initial viewership figures:

  • Hosts Germany’s opening match against Scotland achieved a viewership of 22.5mn viewership on public-service broadcaster ZDF, resulting in a 69% market share
  • UK broadcaster ITV averaged 9.1mn for the same game, peaking at 10.4mn across linear channel and ITVX streaming platform
  • Average audience of 10.5mn for England’s opening game on BBC
  • England – Serbia peaked at 15mn
  • Combined audience of 11.7mn in Italy (on Rai & Sky Italia combined) on their opening game against Albania
  • Fox Sports recorded an average of 1.1 million viewers on American television in the Germany – Scotland encounter
  • In the Spain – Croatia match, Fox’s viewership increased to 1.28mn
  • Fox recorded a 33% increase in ratings compared to their Euro 2020 coverage
Euro 2024: Let The Games Begin - SBI Barcelona

Ticketing

According to UEFA, EURO 2024 is officially the most demanded UEFA European Championship of all time with 50 million ticket requests. Close to 2.3 million tickets (or 85%) of the 2.7 million tickets were made available on the official UEFA ticketing platform and according to their data:

  • Germany, England, Austria, Switzerland and the Netherlands
  • The most in-demand matches were: the final in Berlin, the opening match in Munich and the semi-finals in Munich and Dortmund

In terms of revenue, ticketing is expected to generated about €400mn which is almost 16% of the total budgeted revenue. Further breaking, ticketing in itself is expected to generate €300mn & €100mn from hospitality

Euro 2024: Let The Games Begin - SBI Barcelona

Commercial

The third spoke of the revenue wheel is commercial rights, for which UEFA has budgeted €568mn or about 24% of its total revenue

The interesting thing about sponsors in Euro 2024 is the majority presence of global sponsors who total 13 in number contrasting to five domestic sponsors. Possibly, the standout partner can be the Chinese electric manufacturer BYD, which has taken over from German car giant Volkswagen in the mobility category. Not to forget the first ever betting partner of Euros, Kaizen Gaming-owned Betano and the long standing partner, Adidas, the official ball partner since 1968

Evaluating sponsor-by team, several fascinating things can be noted:

  • Nike emerges as the most partnered kit brand by the number of teams at 9 followed the Adidas, at 6 and Puma, at 4
  • The most prominent industrial categories as main team sponsors for all 24 teams happens to be Telecom and Financial brands at 7 each
  • This is followed by Automotive, Beverages & Retail sector brands who sponsor 3 teams each
Euro 2024: Let The Games Begin - SBI Barcelona

Conclusion

Euro 2024 is certainly living upto its billing not just as a premium football event but also a very important social opportunity for fans to gather together & celebrate. When Viagogo, a ticket exchange and resale site, claims the sale of Euro 2024 tickets to fans from 134 nations, it definitely accounts for an all-round display of enthusiasm

As fans, we simply continue to root for our favourite team & enjoy and as sports business professionals & students, we marvel at the tournament economics!  

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