Gary Bettman has announced that the National Hockey League (NHL) is weeks away from beginning what projects to be the most lucrative season in the league’s history. According to the commissioner, the NHL is on track to make $5.2 billion in revenue this season, a record for the league and a 13% increase from the last entire NHL season, which was in 2018-19.
That revenue will come from new broadcasting deals with Turner Sports and ESPN that began last season. Combined, these deals are worth over $625 million annually to the league. That is a threefold increase from the previous 10-year deal with NBC, worth only $200 million per season.
Regarding revenue, the NHL sits at the bottom of North America’s “Four Big Sports,” well behind the National Football League (NFL). It ranks second in attendance, well behind Major League Baseball (MLB) and just ahead of the National Basketball League (NBA).
Given how the NHL derives about a third of its revenue from attendance and arena operations, many feel the sport has a lot of room to grow.
Expansion
Modern-day hockey originated in Canada, and the first NHL franchise launched in Montreal in 1917, the same year the NHL was born. The NHL was a reboot of the National Hockey Association (NHA) 1909. The first season included five teams, the Montreal Canadiens and Wanderers, Ottawa Senators, Toronto Arenas, and Quebec Bulldogs.
The NHL was a uniquely Canadian affair until 1924 when the Boston Bruins petitioned to join the league, followed by Chicago, New York, and Detroit in 1926, who, with Toronto and Montreal, formed the Original Six, which competed from 1942 through 1967. The Original Six have the most combined Stanley Cup titles among NHL franchises.
1967 saw the league expand from 6 to 12 cities by 1974 to 18. In 1979 the NHL added four teams from the World Hockey Association (WHA). The Winnipeg Jets, Edmonton Oilers, Quebec Nordiques, and Hartford Whalers brought the number of teams in the league to 21, which wouldn’t change until the early 90s went the league added 5 teams (San Jose, Ottawa, Tampa Bay, Florida, and Anaheim) in rapid succession.
Today the league has 32 individual teams, including recent additions in Seattle and Las Vegas.
Legalized Gambling
In the 4+ years since the United States Supreme Court struck down the federal ban on sports betting, states have rushed to pass legislation to legalize different forms of sports wagering. This has provided both a popularity and revenue boost to leagues and teams in the USA and Canada.
Traditional gaming companies in the USA actively compete for market share, and businesses like Odds Shark online betting Canada are actively involved. This friendly competition has raised awareness of the sport and provided a host of new revenue streams for franchises through advertising and sponsorship deals.
Media Broadcasting Growth
The most popular sports in the world share one thing in common: they have multiple media broadcasting deals.
For a decade, the NHL only had one. NBC held all national broadcasting rights for the NHL in the USA, based upon a $2 billion agreement inked in 2011. The deal provided an unprecedented distribution of every NHL game nationwide via broadband and mobile devices, a first for the league.
With the expiration of the NBC deal in 2021, the league inked a new 6-year deal with Turner Media and ESPN. The new broadcast rights agreement will run through the 2027/28 season and add approximately $600 million annually to league revenues. In addition to this agreement, the NHL has broadcasting deals in Canada with Sportsnet Now, NHL Live, and the CBC. Regionally, the NHL splits broadcasting deals with companies like TSN and Sportsnet.
The NHL has never been as accessible to the public as it is today, and the league hopes this will help grow both interests in hockey and viewership.
Women and Minor League Hockey
The NHL has long been male-dominated, but that is beginning to change. Women’s leagues are introducing more female fans to the sport, while minor leagues provide an entry point for new fans. This growth is vital for the NHL, as it helps to ensure that the sport continues to thrive.
Women and minor league hockey are helping to grow the NHL. Women’s leagues are introducing more female fans to the sport, while minor leagues provide an entry point for new fans. This growth is vital for the NHL, as it helps to ensure that the sport continues to thrive.
NHL Commissioner Gary Bettman has said that he wants to see more women playing hockey and attending NHL games. “We’re trying to grow the game, and you can’t do that without involving women,” Bettman said. “It’s good business; it’s good for the game; it’s good for society.”
The NHL has seen steady growth in recent years, but it faces challenges in terms of player safety and concussions and a lack of parity among its teams. However, with the help of women and minor league hockey, the NHL is poised for continued growth in the years to come.
Playing Popularity
Hockey is a sport that is growing in popularity. In the last two decades, hockey’s player base has increased by 20%. This growth can be attributed to several factors, including the increasing popularity of the sport, the increasing accessibility of hockey equipment and facilities, and the increasing media coverage of hockey.
As hockey continues to grow, its player base will likely continue.
Digital Marketing
The hockey world has changed dramatically in recent years, thanks in large part to the power of the internet. If you wanted to watch an NHL game, you had to be at the arena or have access to a cable TV package that included hockey. But these days, there are many ways to stream games online, making it easier for fans to follow their favorite teams.
This increased accessibility has helped fuel the growth of the NHL, which has seen a boom in popularity in recent years. Hockey is now one of the most popular sports in the world, thanks in large part to its online presence. So if you’re looking for a reason why hockey is on the rise, you can thank the internet for making it easier than ever to follow your favorite team.
