Cricket Australia Incurs $16.9 Million Loss Despite Strong Men’s T20 World Cup Performance
Cricket Australia (CA) has reported a loss of $16.9 million for the 2022-23 financial year, despite successfully hosting the Men’s T20 World Cup and recording $43 million in earnings. The loss was attributed to a decline in media rights and match revenues during a non-Ashes year. Nevertheless, the T20 World Cup witnessed impressive attendances, including a crowd of 92,000 for the match between India and Pakistan at the Melbourne Cricket Ground.
Despite the financial setback, the Men’s T20 World Cup’s positive performance led to an increase in player revenue share and incentivized funding for the States and Territories, with total funding reaching an all-time high of $120 million, an increase of $7 million.
Expenses excluding player payments rose by 5%, driven by the full delivery of programs, higher travel costs after the COVID-19 pandemic, and investments in the Big Bash League and grassroots cricket initiatives.
During the financial year, Cricket Australia secured a lucrative seven-year media rights deal worth $1.512 billion with the Foxtel Group and Seven West Media, ensuring comprehensive broadcasting coverage of cricket in Australia from 2024-31. Additionally, a new seven-year deal with Disney Star solidified the right to broadcast Australian cricket in India, guaranteeing the game’s long-term financial security.
Cricket Australia also successfully negotiated a five-year Memorandum of Understanding (MOU) with the Australian Cricketers’ Association. The agreement included a significant increase in payments to contracted women’s players, rising from $80 million to $133 million over the duration of the MOU. This commitment to the women’s game aligns with Cricket Australia’s strategy to double the number of 5 to 12-year-old girls playing cricket over five years. Consequently, more than 25,000 girls aged 5-12 have registered to play cricket.
The popularity of cricket in Australia was reinforced by the success of the 11th season of the Big Bash League (BBL), which remained the most watched sports league in the country on a per-game linear TV basis. The BBL attracted an average of 532,000 viewers per game, and the final between the Perth Scorchers and Brisbane Heat at Perth Stadium witnessed a sold-out crowd of 53,866.
Despite the financial challenges faced, Mike Baird, Chairman of Cricket Australia, expressed confidence in the organization’s ability to shape the future of cricket globally. Cricket Australia aims to prioritize Test cricket while capitalizing on its Olympic sport status to expand the game’s horizons.
The financial year also saw a 24% increase in registered participation for Woolworths Cricket Blast, an introductory cricket program for children. This surge, from 56,464 to 69,879 participants, signifies the growing interest in cricket among young Australians.
Nick Hockley, Cricket Australia CEO, concluded that it had been a year of significant achievements for Australian cricket. The completion of media rights agreements, the MOU, and other strategic investments have positioned the sport on a strong foundation. Notably, the national teams’ exceptional performances on the global stage, including winning gold at the Commonwealth Games, the T20 World Cup, and retaining the Ashes, have further elevated the sport’s status.
Cricket Australia remains committed to driving the growth of the sport, both domestically and internationally. With increasing interest in franchise cricket, the organization acknowledges the challenges and opportunities that lie ahead. As a global leader in the sport, Cricket Australia believes it is well-equipped to navigate this turning point and continue to shape the future of cricket.
