The real world cup winners

The World Cup kicks off tomorrow. For the next month, billions of people will rearrange their sleep schedules, argue with referees on social media, and explain the offside rule to their confused American friends. FIFA, meanwhile, will be focused on a different scoreboard.

The organization expects this year’s tournament—an event it has modestly described as “104 Super Bowls in a month”—to generate roughly $13 billion in revenue; 70% more than the previous World Cup in 2022.

Here’s how the math is mathing:

• Sponsorship revenue is projected to jump more than 55% from 2022
• Ticket revenue is expected to more than triple to $3 billion
• The addition of 40 extra matches is expected to lift global TV revenue to $4.3 billion from $3.4 billion

One trophy, many winners

FIFA won’t be the only one cashing in. A whole roster of public companies is hoping the tournament shows up in their next earnings call.

Comcast holds the Spanish-language broadcasting rights, giving it access to one of the tournament’s most engaged audiences. Benchmark’s Matthew Harrigan remains bullish on the company, arguing World Cup viewership could add to improving broadband trends.

DraftKings and FanDuel owner Flutter Entertainment are also expected to win big off everyone’s losing bets. Macquarie estimates World Cup betting volume could exceed $50 billion globally, up from roughly $35 billion in 2022, helping lift operator earnings by 2% to 5%.

Anheuser-Busch InBev could see as much as a 25-basis-point lift to volume growth from the tournament, per JP Morgan, with additional upside if Brazil wins its first World Cup since 2002, thanks to the company’s controlling stake in Brazilian brewer Ambev.

The tournament should also be a boon for travel companies. Deutsche Bank highlighted DiamondRock Hospitality, Host Hotels, Park Hotels, and Ryman Hospitality as particularly well-positioned, while Airbnb, Uber, and Lyft could also benefit as millions of fans crisscross North America.

Finally, there’s the sponsors: Visa, Coca-Cola, McDonald’s, Bank of America, Home Depot, and others pony up for one of three tiers—FIFA Partners, World Cup Sponsors, and Regional Supporters—and pay anywhere from tens of millions to hundreds of millions of dollars to attach their name.

Whether that spending pays off remains to be seen. But either way, the race for the Golden Boot isn’t the only competition worth watching.—SY