Record NFL revenue continues, with a focus on media opt-outs and global growth

Highlights

• The NFL reported total revenue surpassing $23 billion for the last fiscal year, marking an increase of over 14%. Commissioner Roger Goodell aims to generate $25 billion in revenue by 2027, with a strategic focus on media rights opt-outs in 2029, or before, and expanding the league's international presence.
• The NFL is in the third year of its media rights agreements valued at nearly $110 billion over 11 years, significantly increasing revenue from previous contracts. Major networks such as CBS, NBC, FOX, ESPN, and Amazon are key contributors, with ESPN set to pay around $2.7 billion annually starting in 2026 for Monday Night Football and the Super Bowl.
• The league is increasing its international games, with seven scheduled for the current season, including games in London, Berlin, and São Paulo. All 32 teams are part of the NFL Global Markets Program, enhancing the league's commitment to international growth and tapping into new markets, further solidifying its status as a leading global sports league.

As the National Football League (NFL) works through the 2025-26 season, the Philadelphia Eagles are on a quest to defend their championship title. The league is not only celebrating record revenue but is also strategically positioning itself for future growth, with a focus on media rights opt-outs in 2029, or earlier, and expanding its international presence. Commissioner Roger Goodell aims to generate $25 billion in revenue by 2027, ensuring the NFL's financial momentum continues while attracting fans both domestically and globally.

The NFL is currently in the third year of its lucrative media rights agreements, valued at nearly $110 billion over 11 years, which more than double the previous contracts. Major networks such as CBS, NBC, FOX, ESPN, and Amazon have made significant contributions, with ESPN/ABC set to pay around $2.7 billion annually starting in 2026 for Monday Night Football and the Super Bowl. Additionally, Netflix will broadcast two NFL Christmas games each year from 2024 to 2026.

Revenue reaches a record high, eyes on international expansion

The NFL reported total revenue surpassed $23 billion for the recently concluded fiscal year, marking an 14.1% increase from the previous year. Although future growth may become more challenging as the league enters the third year of its media rights package, potential significant changes, such as an 18- game or new media deals, could drive further expansion.

The NFL continues to increase its international games, with seven scheduled for this season, including three in London and additional games in Berlin, Madrid, Dublin and São Paulo. The league's future strategy includes the potential for an expanded regular season, which could allow for a lucrative package of 16 international games per season. This would create new media rights opportunities, attracting more interest from major networks and tech companies.

All 32 teams are now part of the NFL Global Markets Program, which includes 21 international markets, with recent expansions granting the Bills, Bengals and Titans rights in Canada and Ireland. This initiative highlights the NFL's commitment to enhancing its international footprint and tapping into new markets, further solidifying its status as a dominant global sports league.

Viewership survey breakdown

The S&P Global Market Intelligence Kagan Consumer Insights survey for the first quarter of 2025 revealed that 73% of internet users in the US watch sports. Football emerged as the most popular sport, by far, with viewership accounting for 51% of the surveyed adults.

Among the total US internet adults, 43% reported that they regularly watch NFL football games. A closer examination of the survey data reveals that 87% of those who identify as football fans actively tune in to NFL games, highlighting the league's strong appeal. Additionally, 55% of these fans also engage with college football, indicating a broader interest in the sport at various levels.

Looking ahead: Goodell's extension and the NFL's expanding private equity landscape

As the NFL moves forward, Commissioner Goodell is expected to receive an extension to oversee significant upcoming projects, including new TV deals and a potential 18-game regular season. The league is also seeing an influx of private equity investments, which are driving franchise valuations higher. With new minority equity stakes being acquired, the NFL's financial landscape looks promising, positioning it for continued growth and expansion in the coming years. As the season kicks off, the NFL remains a dominant force in the sports world, ready to capitalize on new opportunities and enhance its global presence.