The COVID-19 pandemic at the beginning of 2020 hit the sports industry hard. Many leagues across the globe suspended their seasons, including the NCAA’s Division I men’s basketball tournament, also known as March Madness. This college basketball tournament is very lucrative for the NCAA and its potential complete cancellation could mean a loss of 933 million U.S. dollars in media rights, ticket sales and sponsorships. This figure is based on the revenue that these categories generated during the previous year's tournament.
Potential loss of revenue from NCAA's March Madness due to the coronavirus (COVID-19) pandemic as of March 2020 (in million U.S. dollars)
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Fox Business. (March 13, 2020). Potential loss of revenue from NCAA's March Madness due to the coronavirus (COVID-19) pandemic as of March 2020 (in million U.S. dollars) [Graph]. In Statista. Retrieved June 10, 2024, from https://www.statista.com/statistics/1104044/coronavirus-revenue-loss-march-madness/
Fox Business. "Potential loss of revenue from NCAA's March Madness due to the coronavirus (COVID-19) pandemic as of March 2020 (in million U.S. dollars)." Chart. March 13, 2020. Statista. Accessed June 10, 2024. https://www.statista.com/statistics/1104044/coronavirus-revenue-loss-march-madness/
Fox Business. (2020). Potential loss of revenue from NCAA's March Madness due to the coronavirus (COVID-19) pandemic as of March 2020 (in million U.S. dollars). Statista. Statista Inc.. Accessed: June 10, 2024. https://www.statista.com/statistics/1104044/coronavirus-revenue-loss-march-madness/
Fox Business. "Potential Loss of Revenue from Ncaa's March Madness Due to The Coronavirus (Covid-19) Pandemic as of March 2020 (in Million U.S. Dollars)." Statista, Statista Inc., 13 Mar 2020, https://www.statista.com/statistics/1104044/coronavirus-revenue-loss-march-madness/
Fox Business, Potential loss of revenue from NCAA's March Madness due to the coronavirus (COVID-19) pandemic as of March 2020 (in million U.S. dollars) Statista, https://www.statista.com/statistics/1104044/coronavirus-revenue-loss-march-madness/ (last visited June 10, 2024)
Potential loss of revenue from NCAA's March Madness due to the coronavirus (COVID-19) pandemic as of March 2020 (in million U.S. dollars) [Graph], Fox Business, March 13, 2020. [Online]. Available: https://www.statista.com/statistics/1104044/coronavirus-revenue-loss-march-madness/