The NHL is projecting record revenues for this season, and their new national television deal is a big reason why. 'It’s not just the avid fan that has come back for those that missed it on ESPN. But it’s casual fans that are tuning in more and more.'
The league is projected to bring in record revenues from the 2021-22 season, likely around $5.3 billion, if not higher, according to NHL Commissioner Gary Bettman when hockey-related revenue is officially tabulated.
According to Keith Wachtel, the NHL’s Chief Business Officer and EVP Global Partnerships, the new television deal in the United States was a driving factor. Viewership numbers for the sport increased on traditional and digital platforms, and partnership with ESPN and Turner made the league a more attractive and viable partner for many sponsors, particularly in the financial sector.
Beer brands were the second-largest spender with the NHL and more than doubled spending from the 2020-21 season. Healthcare companies spent the third most amount, while sports betting companies and casinos are now among the NHL’s biggest financial contributors. The streaming part of the television deal with ESPN+ also created buzz for the NHL’s business. While the streaming numbers for out-of-market games and ESPN+/Hulu exclusives aren’t made public because of Disney policy,which has only helped the NHL’s return-on-investment push to sponsors. It also helps the common claim from the NHL that it has one of the most tech-savvy fan bases in North American sports.
and is already one of the largest licensing deals in league history according to Dave Lehanski, the NHL’s executive vice president of business development and innovationThe league recently re-upped its deal with PepsiCo., and is expected to announce a large sports drink partnership sometime within the next couple of weeks.
“We are creating an opportunity that will be extremely valuable from a branding standpoint,” Wachtel said. “Not necessarily from just a revenue standpoint, but for the entire ecosystem of the sport.”
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