The NCAA tournament, also known as March Madness, is one of the biggest events in college sports. The tournament involves 68 teams from across the country competing for the title of national champion. The tournament lasts for three weeks, with games taking place all over the United States. The NCAA tournament is not just a huge event for sports fans, it is also a massive money-making opportunity for the NCAA.
The organization makes a significant amount of money from the tournament, primarily through broadcasting rights, sponsorships, and ticket sales. According to reports, the NCAA made $933 million in revenue during the 2019 NCAA tournament. This revenue was generated from a variety of sources, including broadcasting rights, sponsorships, and ticket sales. It’s important to note that the 2020 tournament was canceled due to the COVID-19 pandemic, so the NCAA did not generate any revenue from the tournament that year. The majority of the NCAA’s revenue from the tournament comes from its broadcasting rights. In 2019, the NCAA signed a 14-year, $10.8 billion contract with CBS and Turner Broadcasting to broadcast the tournament. This contract alone is responsible for a significant portion of the NCAA’s revenue from the tournament. In addition to broadcasting rights, the NCAA also generates revenue from sponsorships.
The NCAA has several major corporate partners, including Coca-Cola, AT&T, and Capital One, who pay to be associated with the tournament. These corporate partners pay the NCAA for the right to use the tournament’s branding and logos in their advertising and marketing efforts. Finally, the NCAA also generates revenue from ticket sales. The tournament is held at various venues across the country, and fans can purchase tickets to attend the games in person. Ticket sales account for a relatively small portion of the NCAA’s revenue from the tournament, but they still contribute to the overall total. It’s worth noting that the NCAA does not keep all of the revenue generated by the tournament.
The organization distributes a portion of the revenue to the schools that participate in the tournament, with the amount of money each school receives based on a variety of factors, including how far they advance in the tournament. In conclusion, the NCAA tournament is a massive money-making opportunity for the organization. With broadcasting rights, sponsorships, and ticket sales all contributing to the revenue generated, the NCAA made nearly $1 billion from the tournament in 2019. While the tournament is undoubtedly a huge event for sports fans, it’s clear that it’s also a major source of revenue for the NCAA.