The future of football, revisited

On one hand:

Ratings for regular-season games fell 17 percent over the past two years, according to Nielsen, and after one week of play in the new season, viewership has been flat. February marked the third-straight year of audience decline for the Super Bowl and the smallest audience since 2009. Youth participation in tackle football, meanwhile, has declined by nearly 22 percent since 2012 in the face of an emerging scientific consensus that the game destroys the brains of its players.

On the other hand, how many other focal experiences are left:

Yet even a middling franchise, the Carolina Panthers, sold in May for a league record  $2.3 billion. Advertisers spent a record $4.6 billion for spots during NFL games last season, as well as an all-time high $5.24 million per 30 seconds of Super Bowl time. The reason is clear: In 2017, 37 of the top 50 broadcasts on U.S. television were NFL games, including four of the top five.

The Green Bay Packers, the only NFL team that shares financial statements with the public, has posted revenue increases for 15 straight seasons. Leaguewide revenue has grown more than 47 percent since 2012. Commissioner Roger Goodell’s official target is $25 billion in revenue by 2027, or roughly 6 percent annual growth.

“The business of the NFL is very strong and continues to get stronger,” says Marc Ganis, president of the consulting firm Sportscorp Ltd., and an unofficial surrogate for league owners.

But what will happen if the number of brain damage cases continues to rise?  Here is more from Ira Boudway and Eben Novy-Williams at Bloomberg.

For the pointer I thank Ray Lopez.