NBA commissioner Adam Silver said the league posted a record year for revenue with the 2021-22 season, surpassing $10 billion for the first time.
The league, which is about to enter its 76th season, reported the results following two shortened seasons hampered by limited fan attendance amid pandemic-related restrictions.
- For the 2018-19 campaign, revenue for the NBA reached $8.8 billion.
- A season later, the league generated $8.3 billion in revenue.
- The 2020-21 season saw roughly a 33% drop in revenue compared to the year prior.
- That season, sponsorships brought in a record $1.46 billion in revenue.
The NBA, like many other professional sports leagues, has benefited from expensive media rights deals — its coveted rights make up roughly $2.6 billion of the league’s annual revenue.
Changes to be Made
On Tuesday, the NBA board of governors voted to make the highly competitive playoff play-in tournament permanent. The tournament’s inclusion was previously approved on a year-to-year basis, but its growing popularity with teams and fans pushed the NBA to keep it around.
Silver is also advocating lowering the minimum NBA Draft eligibility age from 19 to 18. The NBA’s minimum age prevents high school players from being selected.
As a result, prospects have taken different routes to reach the NBA, including opportunities overseas and the NBA’s G League Ignite team — which allows young players to be paid.