John Cairney’s Post

🏟️ **Revenue Growth in US Sports: Stadiums, Concessions, and Parking!** 🍿🚗 As we dive deeper into the world of sports, it's fascinating to see the multifaceted revenue streams that keep the industry thriving. 1. **Stadium Revenue**: Modern stadiums are more than just venues for games—they are entertainment hubs. From hosting concerts to corporate events, these facilities are generating substantial revenue year-round. Innovations in stadium design and amenities are attracting more visitors, driving up profits. 2. **Concessions**: The game-day experience is incomplete without delicious food and drinks. Concession stands have evolved, offering gourmet options and local favorites that fans love. This has transformed concessions into a major revenue stream, contributing significantly to the overall earnings. 3. **Parking**: With thousands of fans flocking to stadiums, parking has become a lucrative business. Prime parking spots and premium parking services are in high demand, adding another layer of revenue for sports organizations. The synergy of these elements not only enhances the fan experience but also ensures a steady flow of income for the sports industry. As we continue to innovate and adapt, the potential for growth in these areas is immense. What are your thoughts on the impact of stadium operations, concessions, and parking on sports revenue? Share your insights and experiences! #SportsBusiness #StadiumRevenue #Concessions #Parking #SportsIndustry #RevenueGrowth #nba #nfl #nhl #mlb #mls

Soccer’s surging popularity in North America is fueling a stadium development boom—but it’s not all smooth sailing. Cities like Indianapolis, Sacramento, and Halifax (Canada) face delays due to financial hurdles, while new USL franchises in Milwaukee and Des Moines are also chasing funding for their dream venues. Yet, stadium plans are about more than just the game—think retail, residential, and hospitality hubs transforming entire neighborhoods, like the impressive mixed-use project planned near Dick’s Sporting Goods Park in Colorado. #SoccerBoom #StadiumDevelopment #UrbanGrowth #TheBeautifulGame #SportsEconomy https://lnkd.in/ex3NAbmn

Many cities have 1 mixed-use entertainment district, but can 2 in one city be successful? That’s the situation unfolding here in Atlanta… The mixed use entertainment districts in sport keep coming as the Centennial Yards project in downtown Atlanta begins to take shape this month. The project will rise on this site adjacent to State Farm Arena and Mercedes-Benz Stadium, home of the Atlanta Hawks and Atlanta Falcons, respectively, transforming eight acres of land into 480,000 sq. ft. of entertainment, retail, and restaurant space, including: *a three-story, 70,000-square-foot building described as an immersive entertainment concept; *a four-story, 160,000-square-foot building that will be a single-tenant entertainment venue; *a two-story, 50,000-square-foot building for food and beverage retail; *a 14-story hotel; and, *a fan gathering plaza expected to be the centre of gravity for experiencing FIFA World Cup 2026™ - Canada, Mexico and the United States Two-thirds of the Centennial Yards project is expected to be complete or under construction by FIFA World Cup 2026. It will be interesting to see how this district performs relative to The Battery, the successful mixed-use entertainment district in northwest Atlanta around Truist Park, home of the Atlanta Braves. I believe Centennial Yards will perform well given its proximity to the arena, stadium, Georgia World Congress Centre, downtown hotels and nearby Centennial Olympic Park. #sportbusiness #mixedusedistrict #atlanta #tourism

How about a Friday ICYMI post? Lots happening (news + features) in the venues/fan experience/ticketing corner of the sports business world the past 2 weeks: + Elevate added some human firepower by hiring frm NBA 2K League president Brendan Donohue in an interesting and multi-faceted role: https://lnkd.in/eys2EWZe + Check out my story on the major renovations (both over $400M) at Belmont Park and Pimlico, which, when complete, should seriously benefit the overall Triple Crown. Design at both horse racing venues has a different focus than in the past, including incorporating surrounding communities. “Preakness has kind of happened to Park Heights, instead of it happening ‘for’ Park Heights,” Marc Broady, who grew up in the neighborhood, told me. “We want to change that in the best way we can.” The story ---> https://lnkd.in/etvUatAY + the 1901 Project in Chicago overcame a big hurdle last week by gaining approval for the $7B, 55-acre project from the Chicago Plan Commission: https://lnkd.in/eRX3ncFm + Gensler was awarded a $25M contract by the city of Dallas to design the renovation of Memorial Auditorium for the Dallas Wings. Cool project: https://lnkd.in/eUNUGN6E + Cosm is emerging as an attractive 1A attraction in sports venue mixed-use developments. I spoke to the company's SVP of Venues/Experience Tyler Washburn, who noted that Cosm plans for 1 of its first 10 locations to be outside the US: https://lnkd.in/eyjh-g6c + First incident of this above? Centennial Yards Company in Atlanta, which is turning what's long been known as The Gulch into a $5B mixed-use development that hopes to symbiotically benefit its neighbors, Mercedes-Benz Stadium and State Farm Arena: https://lnkd.in/eqHbtyBy + After several years of development, Jump has its first pro client, North Carolina Courage/North Carolina FC; a great test to see if the direct-to-consumer ecosystem can succeed in the pro sports world: https://lnkd.in/ek63P7Z7 Much, much, much more, here: https://lnkd.in/ezekRKs7

Why sports franchises are serious about connecting venues and make them smart After the pandemic, serious efforts have been made to improve the venue's fan experience. These activities fall into three buckets: 1️⃣ Leveraging data 📊 about fans and what they do at the venue to improve venue operations 2️⃣ Enabling fans to do more 📱 than watch the game/race 3️⃣ Facilitate the transition to green ✅ operations with reduced waste and use of resources I found this perspective from PwC interesting on what drives the development of each area. #5G #Sports #SmartVenues

The Bulldogs’ impact isn’t confined to Sydney; our influence stretches nationwide. From Melbourne to Brisbane, Newcastle to Townsville, our brand resonates deeply, as evidenced by our substantial away crowd average. Over the past decade, we've drawn attendances 8.9% higher at opposition venues compared to the NRL average. This means that when the Bulldogs are in town, stadiums are fuller, and rival teams benefit from our significant drawing power. This isn't just a testament to our brand strength—it's a reflection of the passion the Bulldogs evoke. The elevated numbers aren’t merely about support; they’re about the broader brand awareness and the intense emotions we stir across the league. In the 2024 season, our away crowd average soared to the highest in the NRL, with over 25,000 fans packing stadiums whenever we hit the road. This is more than a statistic; it’s a powerful reminder of the Bulldogs’ national reach and the unbreakable connection we have with fans across Australia.

Highlighting the emergence of Las Vegas as “America’s most exciting sports town,” this New York Post article notes, among other trends, that “the number of people booking trips to Las Vegas annually to see a live sporting event has tripled since 2022 to more than 2 million, according to the Las Vegas Convention and Visitors Authority - LVCVA.”   The article further breaks down the drivers of the growing sports momentum in Las Vegas, highlighting the draw and activation of the VICI-coined “Sports Triangle” – the area formed by Allegiant Stadium, T-Mobile Arena and the proposed A’s stadium, in or adjacent to which VICI owns 6 properties. From the 2024 Super Bowl to Formula 1, an increasing number of eyes have experienced the city in a new light, and the continued momentum suggests that Las Vegas may be the next “epicenter of America’s sports world."

Sports Stadium revenue, by leaguge: Sports stadiums are a crucial source of revenue for professional sports leagues, generating more than $17 billion over the 2022-2023 season. The cost of gate receipts across the big four leagues have jumped much higher than core inflation since 2007, with the sharpest rise seen over last year. One part of the reason is the rising costs of suites and luxury boxes, which can run as high as $45,000 per game for teams like the NFL’s San Francisco 49ers. During Super Bowl LVIII, the cost of suites peaked at $2.5 million. #sportsmarketing

The modern era of professional sports arena and stadium sponsorships can be traced back to the 1990s, when a host of new buildings were constructed to house both existing teams and franchises that suddenly found themselves in new cities (whether through expansion or relocation). As more venues were built, the industry’s power brokers realized longstanding tradition of naming them after locations or important historical figures could be used to generate extra cash. “Sponsorships had been a staple of the philanthropic world — hospitals, university buildings, etc.,” Mark Rosentraub, a professor of sport management at the University of Michigan, told me. “But the sustaining interest in sport and owners seeking new sources of revenue, as player salaries rose, created a new synergy.” We can see this by looking at naming trends in the so-called Big Four North American men’s pro leagues: the NFL, NBA, NHL, and MLB. From the 1970s through the 1980s, the share of home venues that were named either generically (i.e., Atlanta-Fulton County Stadium) or in tribute to an individual (Comiskey Park, etc.) was 97.3%. In almost every other case, the sponsor hailed from the food-and-beverage industry — such as Rich Stadium in Buffalo or Busch Stadium in St. Louis. #brands #brand #stadiums #stadiumnames #namingtrends #sports #sportsmanagement https://lnkd.in/ehd67RG4

The future of PNC Arena (soon to be Lenovo Stadium) in Raleigh, NC, is poised to bring exciting changes as the venue undergoes planned upgrades and renovations. Home to the NHL's Carolina Hurricanes and NC State men's basketball, the arena is set to receive significant enhancements that will modernize the fan experience, improve infrastructure, and maintain its status as a top-tier sports and entertainment facility. The proposed renovations include expanding seating capacity, updating concourses, and adding state-of-the-art amenities like enhanced dining options, social spaces, and digital technology to improve connectivity for fans. There's also talk of improving exterior aesthetics, parking, and transportation access to make the venue more accessible and appealing to a broader audience. As Raleigh continues to grow and establish itself as a major hub in the Southeast, these investments in PNC Arena are crucial in keeping the city competitive for major events, concerts, and sports championships in the future. The renovations aim to ensure that PNC Arena remains a world-class venue for years to come. 📸 : Rendering courtesy of the Carolina Hurricanes Check out the full article on: https://lnkd.in/ejCGR5Qx #nicolleschneiderhomes #premieragentsnetwork #pncarena #expandingraleigh #whatsnewinraleigh