BLOG — Oct. 30, 2025
As the puck drops, NHL media rights and global competition take center ice
Highlights
- The NHL is experiencing remarkable growth, with attendance and revenues reportedly exceeding $7 billion annually. This surge is driven by transformative players, international initiatives, and significant offseason developments, including a new collective bargaining agreement (CBA) and historic player contracts.
- he league is in the fifth year of lucrative media rights agreements with Walt Disney Co. and Warner Bros. Discovery Inc., valued at nearly $4.5 billion. This season, TNT will increase its coverage to 72 games, while ESPN will showcase 100 games, including exclusive content on ESPN+ and Hulu, aiming to boost viewership after a decline last season.
- NHL players will participate in the Olympics for the first time since 2014, marking a pivotal moment for the league's global strategy. Additionally, the 2024-25 season achieved record attendance with over 23 million fans, highlighting the NHL's strong engagement and a fan demographic that closely aligns with the U.S. population.
As the National Hockey League (NHL) enters the 2025-26 season, all eyes are on the Florida Panthers as they aim for a third consecutive championship. Meanwhile, the league is experiencing unprecedented growth, with attendance and revenues reportedly surpassing $7 billion annually. This surge is fueled by transformative players, strategic international initiatives, and a groundbreaking offseason that included a new collective bargaining agreement (CBA) and historic player contracts, notably Kirill Kaprizov's eight-year, $136 million extension.
Three seasons remain under current US media rights agreements
The NHL is in the fifth year of its lucrative media rights agreements with Walt Disney Co. and Warner Bros. Discovery Inc. (WBD), valued at nearly $4.5 billion over seven years. These agreements have more than doubled the value of previous contracts, with Disney contributing over $400 million each year to showcase games on platforms like ESPN, ABC, ESPN+, and Hulu. This season, ABC will host the Stanley Cup Final for the third time under this deal, while WBD will air games on TNT and HBO Max, investing approximately $225 million annually.
TNT is ramping up its coverage to 72 games this season, a notable increase from 59 last year, while ESPN will showcase 100 games, including exclusives on ESPN+ and Hulu. This expansion aims to counter a nearly 12% drop in average viewership last season, with the Colorado Avalanche and Boston Bruins leading the way with 17 national TV appearances each.
NHL and NHLPA reach CBA agreement
In a significant offseason development, the NHL and the NHL Players' Association (NHLPA) reached a new four-year CBA set to begin in the 2026-27 season. This agreement expands the regular-season schedule to 84 games per team and introduces new contract limitations, including a cap on re-signing players to seven years and new restrictions on signing bonuses. This CBA is designed to enhance revenue sharing and maintain competitive balance within the league.
Adapting to a changing broadcast landscape
The NHL is also navigating the evolving regional sports network (RSN) industry. The Tampa Bay Lightning's recent move to a Scripps-owned broadcast station marks a shift aimed at reaching a broader audience while ending their partnership with Main Street Sports Group. This transition is expected to increase ticket and merchandise sales, similar to the success experienced by other teams that have partnered with Scripps.
Additionally, the Dallas Stars have teamed up with Gray Media and Victory+ to simulcast 17 games across 15 markets in Texas, Arkansas, and Louisiana, enhancing accessibility for fans outside major urban areas.
NHL's emphasis on global competition, as NHL players return to Olympic ice
Looking ahead, NHL players will return to the Olympics in February 2026 for the first time since 2014, following an agreement with the International Ice Hockey Federation (IIHF). This marks a significant step in the NHL's global growth strategy, which aims to capitalize on the league's diverse international player pool and foster long-term international engagement through events like the World Cup of Hockey.
Record attendance and consumer insights
The 2024-25 season saw record attendance, with over 23 million fans attending games, reflecting a 0.6% increase from the previous year. Insights from the S&P Global Market Intelligence Kagan survey reveal that 17% of Americans watch NHL hockey, with a fan demographic closely mirroring the general U.S. population. The league's fan base is predominantly male (63%) and college-educated (65%), with a significant portion aged 55 and older.
Products & Offerings