The potential risks for sports leagues in relying heavily on revenue from domestic media rights include the possibility of a decrease in viewership, changes in consumer behavior, technological disruptions, and regulatory changes. A decrease in viewership could lead to a decrease in advertising revenue. Changes in consumer behavior, such as a shift towards online streaming platforms, could disrupt traditional revenue streams. Technological disruptions could change the way sports are consumed, potentially reducing the value of broadcasting rights. Regulatory changes could also impact the profitability of domestic media rights.
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From 1980 through 2023, the five largest professional US sports leagues will have earned more than $210 billion from domestic media rights alone, with the NFL making up a staggering 65%, or one hundred and thirty-six billion of that revenue. In 2023, broadcasters and streaming services will pay $15.4 billion a year for all their sports broadcasting rights. That's billions of dollars for billions of viewers. (Source)