Despite the growing concerns over attendance and television ratings, Major League Baseball expects to earn $7 billion in revenue this year, an all-time high.Attendance has dipped 7.2 per cent over the last two years, and ratings have plummeted by 20-40 per cent across the league’s three broadcasting partners. Yet commissioner Bud Selig called it a “golden era” for the sport.
And it’s all thanks to corporate sponsors.
The sports ad market is surging. Automotive and insurance companies have returned significant chunks of their marketing budget to sports venues and telecasts. As a result, Fox sells World Series ads at $450,000 per 30 second spot, which translates to $31.5 million per broadcast.
So while everyone talks about poor ratings, Fox Sports President Eric Shanks said if their deal with baseball was expiring, they would “definitely” try to renew.
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