News & Insight
Posted on April 30, 2025
By Two Circles
- Formula E crowned the fastest-growing property of the past decade across both audiences and revenues, making it a Two Circles ‘Super Accelerator’.
- Two Circles launches 2025 Sports Revenue League, including the first league table ranking the Top 20 Sports Intellectual Property Owners by revenue.
- 2024 was a record-breaking year for the industry, with Sports properties generating $170 billion in revenue.
- Top 20 Sports IP owners account for 44% of all industry revenue in 2024.
Sports IP Owners globally generated a record-breaking $170 billion in revenue in 2024 and marking the biggest year ever for the industry, with growth accelerating across key markets, properties and formats.
The data shows that while the sports industry continues to grow, success is increasingly concentrated among a small group of major players. Today, the Top 20 Sports IP Owners account for 44% of total industry revenue – up from 35% a decade ago – consistently outperforming the wider market in both media and sponsorship revenues.
Notable movers include the IOC and Paris 2024, which sold more tickets over 19 days (12m) than the entire Taylor Swift Era’s tour did (10m) over 149 days. There were also significant gains from the NFL and the newly consolidated TKO Group, home to UFC and WWE, with 67% year-on-year growth. Meanwhile, non-traditional IP Owners such as EA FC and Churchill Downs reflect the expanding definition of “sport” in a fast-evolving marketplace.
Gareth Balch, CEO and Co-founder, Two Circles, said: “The launch of the Two Circles 2025 Sports Revenue League marks an important milestone for the industry. For the first time, we have a definitive view of where the greatest value in global sport is being created – and how that landscape is shifting. As the market evolves, understanding who is leading – and why – will be critical for anyone looking to drive growth. The 2025 Sports Revenue League sets a new benchmark for insight into the business of sport.”
Two Circles also identified a group of Super Accelerators – organisations that have consistently outpaced the market over the past decade seeing growth of 10% CAGR compared to the industry average of 4.5%.
182
182 IP Owners achieved Super Accelerator status, with Formula E leading the pack.
From its foundations in sustainability and electric mobility to its bold approach to entertainment and fan engagement, Formula E has redefined motorsport for a new generation growing from a challenger property to one of the industry’s most dynamic forces over the last ten years.
Jeff Dodds, CEO, Formula E, commented: “It’s a real honour to be recognised as the leading ‘super accelerator’ in global sport over the past decade and is a powerful validation of Formula E’s long-term vision. In just ten years, we’ve grown our fanbase and our revenues at a rapid rate, a trajectory that reflects not only the global rise of electric mobility and sustainability, but the strength of our sporting proposition and the engagement of our fans worldwide. We believe the future of sport lies in combining elite performance with purpose, and Formula E is proud to be setting the pace for what that future looks like.”
Two Circles’ 2025 Sports Revenue League provides the clearest view yet of how revenue, audiences, and business models are evolving and what this means for the future of growth across global sport.
