Press Release (ePRNews.com) - MIAMI BEACH, Fla. - Jun 02, 2018 - “The diversity of the sports industry in Florida makes it something closely watched by the nation’s sports leaders,” said John Webb, President of the Florida Sports Foundation. “Through the marketing and sales efforts of the professionals within the state’s 27 sports commissions, 10 professional teams, the support of the local communities in constructing state-of-the-art sports facilities and Florida’s temperate year-round climate, it all combines for a thriving sports industry.”
The 16 million visitors coming to Florida for sports activities Represent 15 percent of approximately 106 million non-resident visitors to Florida last year, according to Visit Florida. “Sports is a huge business in Florida,” said Scott Cooper of Miami Beach. “It brings in over $2 billion in revenue per year and our teams benefit from ticket sales and revenue sharing. Between the Miami Dolphins, Jacksonville Jaguars, Tampa Bay Bucks and Miami Heat, there was over $1 billion in revenue in 2016 alone.”
Forbes magazine has estimated that the Miami Dolphins are #12 among the most valuable franchises in the USA. “College football is also big business in Florida” according to the Scott Cooper Miami blog. The US Department of Education reported that the top six college football programs generate alone over $170 million per year.
Sports is a huge business in Florida. It brings in over $2 billion in revenue per year and our teams benefit from ticket sales and revenue sharing. Between the Miami Dolphins, Jacksonville Jaguars, Tampa Bay Bucks, and Miami Heat, there was over $1 billion in revenue in 2016 alone.
Scott Cooper Florida Manager
According to Major League Baseball, the Miami Marlins and Tampa Bay Rays each brought in close to $200 million in revenue in 2016.
Miami Heat, Miami Dolphins, Miami Marlins, Miami FC, Futbol Miami, Florida Mayhem, Miami United FC, FC Miami City, Miami Fusion, Miami Floridians, Miami Sol and the list goes on. In the U.S., nearly three-quarters of all adults claim to be sports fans. And we spend, on average, nearly 8 hours per week tuning in to our favorite sport or about 11 hours.
But we also cheer on our favorite teams with our pockets. The Miami, Florida sports industry is simply fantastic. Scott Cooper puts the Miami Dolphins value over $2.5 billion. The $500 million renovations to Hard Rock Stadium, owned by the team, has been kicking off cash. The Miami Heat is valued above $1.7 billion even with the recent hit in television ratings.
Florida sports teams are expected to rake in about $69.4 billion from ticket and merchandise sales, media rights and sponsorship fees, according to the latest sports outlook from Price Waterhouse Coopers. The firm estimates that figure to reach upwards of $75 billion by 2020. That’s not mentioning the lucrative fantasy-sports marketplace in North America with 59.3 million players, each spending an average of $556 per year or nearly $33 billion collectively.
“The increasingly mobile-oriented ways we consume sports and increasing premium-seat demand is partly responsible for the substantial industry growth,” says Scott Cooper, Florida-based CEO. “Today, we can digest the latest sports information through our smartphones and ditch the bleachers for ultra hi-def TVs that look torn get larger every year. But many serious fans still prefer live action — and the best seats in the house. In response, sports venues are improving their facilities to boost the in-person viewing experience.”
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