Over the past century, athletic events have become a central part of the American identity. As fringe sports like soccer and cricket gain a U.S. presence, Construction Dive explores how this has provided an opportunity for construction industry players looking to diversify their stadium repertoire.
Though U.S. sports have expanded and diversified over the years with the help of international influence, a number of them have risen to become the big moneymakers we know today. The NFL generated roughly $14 billion in revenue during the 2016-17 season, according to the Sports Business Journal — nearly a $1 million jump from 2015.
Major League Baseball (MLB) revenue approached $10 billion in 2016. While the numbers are not yet in for the 2017 season, league officials expect its figures to surpass the $10 billion mark.
The earnings that these and other professional sports leagues rake in each season speaks to the well-oiled business machines they are. But they are also testament to the viewership they are able to capture, both at home and in the stands, and the ways professional leagues are able to capitalize on those fandoms through advertising and merchandise licensing fees.
Soccer, a former outlier in the mainstream U.S. professional sports space, is gaining new popularity among a growing crowd of fans. Recent years have been marked by the construction and planning of new soccer-specific venues while facing stiff competition for a coveted Major League Soccer (MLS) franchise slot.
Click here to read more about the rise of the soccer-specific stadium.