Tennis is a great game. Loved by millions, played by many, watched by millions more- it enjoys something of a cult following across the world. But did you also know that tennis is big business? There are potentially billions of dollars tied up in various aspects of the sport. So, which are the most lucrative and valuable?
Sponsorships
In tennis, sponsorships are a big deal. In 2019, Roger Federer made $86 million in sponsorship deals, far outstripping any other players. In women’s tennis, Serena Williams made some $25 million with Naomi Osaka taking home $14 million.
Lucrative sponsorship deals mainly came from clothing and accessories brands, almost always sports-related. The second was sports equipment, then cars, financial services, and consumer goods and services. The value of this sector continues to increase as more companies see the value of associating their goods with some of the world’s most elite athletes.
Betting
Sports betting is the most popular kind of gambling in the world. The smartphone and increased internet access mean that more and more people are becoming interested in betting. The global sports betting market is worth over $203 billion, a section of which, is down to tennis.
Many of which offer sports betting, but also online casino games such as poker, baccarat, card games, and roulette are also on the rise. Sites like this one are popping up left, right, and centre, offering players a selection of gambling products that they can enjoy while watching the tennis on their mobile. Many of which offer various bonuses to separate themselves from their competitors. Sports betting is projected to keep growing over the next few years at least, as will casinos, due to increased numbers of new players from various demographics.
Sports clothes and equipment
The tennis equipment industry is also worth a lot of money. Big brands create special rackets, shoes, clothing, balls, nets, and machines, which are in high demand. These brands sell at a premium as they are specialized sporting goods.
Furthermore, due to the recent trend for luxury sportswear and sports chic, many non-athletes are opting for sportswear on a daily basis. This has also put up the value of sporting shoes and equipment, especially with tennis brands. Key names in this vertical include Wilson, Nike, Head, Babolat, Adidas, Dunlop and of course, Nike. They enjoy by far the majority of the market share and their popularity continues to grow.
Viewing rights
Millions of people tune in to watch tennis tournaments every year. Millions more also watch the Olympics, where tennis is a big draw. This means an excellent opportunity for broadcasters and TV channels the world over. In fact, who has the right to broadcast specific tournaments can be very hotly contested.
These rights go for hundreds of millions of dollars and can make or break a channel’s sporting schedule. They can also impact how much advertising revenue a company gets- the more viewers, the more they can charge for an advertising slot during the breaks.
2021 is a great year for tennis. Wimbledon and the Olympics are set to create more demand for tennis in almost every area, resulting in more revenue and profit for those involved.
