Oct. 18 (UPI) — The NBA is projecting $10 billion in revenue for the upcoming 2021-22 season as audiences continue to return, a notable increase from the last two seasons when fan attendance was limited or disallowed due to the COVID-19 pandemic.
The league’s revenue dropped from $8.8 billion in the 2018-19 season to $8.3 billion for the 2019-20 campaign — the first season that COVID-19 impacted.
The NBA hasn’t revealed revenue figures for its shortened 72-game season in 2020-21, but league commissioner Adam Silver told reporters Monday that revenue was down about 35% last year instead of the projected 40%.
“We lost significant amounts of money. The good news is we’re able to take a long-term view of this business, and continue to grow in it,” Silver said. “We try to look at it as an ongoing investment in the business over a long period of time as opposed to a loss of individual seasons.”