The MLB (Major League Baseball) achieved its highest revenue to date, despite facing criticism over its aging fanbase and media challenges. The league reportedly earned more than $10.8 billion in 2022, surpassing its previous record of $10.7 billion in 2019.
The success can be attributed to new media rights deals with Fox, TBS, and ESPN, which collectively pay $1.8 billion per year, a significant increase from their previous deals of $1.5 billion annually.
Additionally, streaming deals with Apple and NBC’s Peacock added $115 million per season, and sponsorship deals brought in $1.2 billion, a 5.6% increase from the previous year.
While attendance for the league was at 64.6 million, which showed a 42.3% increase from the pandemic-affected 2021, it was still the lowest figure since 1997, other than 2020 and 2021.
The league’s 2022 season was delayed by a 99-day lockout as players and owners negotiated a new collective bargaining agreement.