S&P Sees Record Revenue For NFL’s Media Agreements.

As the NFL kicks off another season, the combined value of its media agreements – along with broadcasting dominance and global growth – suggests continued record revenue, according to an analysis from S&P Global Market Intelligence Kagan.

“The league is strategically focusing on media rights opt-outs in 2029 and expanding its international presence to achieve Commissioner Roger Goodell's goal of generating $25 billion in revenue by 2027,” S&P's news release says. “This approach aims to maintain financial momentum and attract a global fan base.”

According to the report, those rights agreements are valued at nearly $110 billion over 11 years – more than doubling previous agreements – demonstrating the NFL's strong media presence and financial growth.

S&P's analysis points out the NFL coverage's continued dominance in U.S. broadcasting, even with U.S. viewership off 2.2% in 2024, noting that “the league's media presence grew with new rights partnerships and increased streaming engagement, maintaining its strong appeal among U.S. audiences.”

The NFL's deals include not only traditional broadcast radio and TV but also Netflix and YouTube, both of which are expanding their coverage this season. Netflix will carry two Christmas games annually from 2024 to 2026, valued at $150 million per year, while YouTube will stream its first exclusive game this season, and has entered a multiyear deal for an annual Super Bowl Flag Football game.

Getting most of the attention this season is the league's pact with ESPN. The deal, where ESPN acquired NFL Network, NFL RedZone, and NFL fantasy football assets, in exchange for a 10% stake in the sports network marks, S&P says, “a significant shift in the sports media industry, enhancing ESPN's offerings and strengthening its position in NFL broadcasting.”

The report also points to the further expansion of the NFL's international games – with seven scheduled for this season along with potential overseas Super Bowl plans – noting that the strategy “aims to create new media rights opportunities, and solidify the NFL's status as a dominant global sports league.”