As Premier League giants Manchester City and Manchester United venture on their US tours, a tantalising opportunity awaits. A recent report unveils a potential windfall of $321 million in annual revenue by capturing the attention of undecided American football fans.
The findings by CLV Group, specialists in direct-to-consumer fan engagement, underscore the fact that there are 83 million soccer fans in the US. Notably, 44% of them are yet to pledge loyalty to a team, presenting an enormous chance for Premier League clubs to expand their fanbases and increase their revenues.
The Growing US Soccer Market
Manchester City and Manchester United are leading the charge to tap into the massive US soccer market. A recent report estimates that Premier League clubs could gain hundreds of millions in annual revenue by appealing to undecided American fans.
Experts at CLV Group, data specialists in direct-to-consumer fan engagement, have highlighted that there are 83 million soccer fans in the US. Astonishingly, 44% – or 36 million – of these fans are undecided on which team to support, representing a significant opportunity for clubs to expand their fanbases and increase revenue.
Innovative Strategies for Engagement
Neil Joyce, CEO of CLV Group, stresses the need for Premier League clubs to adopt innovative approaches to win over these fans. Traditional methods may not be sufficient. Instead, clubs should explore digital propositions and collaborations that resonate with younger audiences.
CLV’s new guidebook, ‘Connecting and Winning U.S. Fandoms: A Guidebook for European Football Clubs,’ suggests that while the average UK Premier League fan is about 42 years old, half of US fans are under 45. This demographic difference calls for strategies beyond just matchday revenue, focusing on digital and entertainment collaborations.
The Stardust Effect
Joyce mentions the ‘stardust’ effect as a crucial element for success.
In essence, this involves partnerships spanning music, entertainment, anime, and video gaming, creating a blend of physical and digital experiences for fans.
Emerging technologies like blockchain, digital collectibles, and membership schemes can also be pivotal in engaging new audiences. Clubs must be ready to experiment and scale these innovations as fan interest grows.
Financial Potential for Top Clubs
Manchester United appears set to benefit the most from this opportunity, with an estimated $40.7 million potential revenue in the US market, thanks to their extensive Premier League title wins.
Following closely, Manchester City stands to gain $34.3 million, while Chelsea and Arsenal could see revenues of $27.3 million and $22.3 million, respectively.
European powerhouse Real Madrid, however, could outperform all, with a staggering $61 million revenue potential from the same market.
Utilising Increased Revenue
The potential financial windfall could significantly impact club operations. Increased funds from the US market could bolster transfer budgets, player wages, and club infrastructure.
Furthermore, domestic fans could benefit through potential ticket price reductions or at the very least, price freezes, enhancing the matchday experience for loyal supporters.
Overcoming Challenges
Despite the lucrative prospects, capturing the US market is not without its challenges.
Premier League clubs must navigate a competitive landscape where Major League Soccer (MLS) and other European clubs like Real Madrid, Barcelona, PSG, and Bayern Munich are also vying for attention.
To succeed, clubs must differentiate themselves through unique fan engagement initiatives and strategic partnerships.
Key Quotes and Insights
Neil Joyce emphasised: “European football clubs have historically lacked the necessity, data, and technology to drive such transformative growth.”
He continued, “Now is the time to capitalise on the rising popularity of football in the US and the sheer scale of its fanbase.”
Joyce also pointed out the success of collaborations like LeBron James partnering with Liverpool FC and Taylor Swift’s impact at the Super Bowl.
The Road Ahead
Premier League clubs have a unique opportunity to secure a share of the $321 million annual revenue from the US market.
Strategies focusing on digital engagement, entertainment collaborations, and innovative technologies will be key to capturing the hearts and minds of American fans.
In conclusion, Premier League clubs, particularly Manchester City and Manchester United, are strategically positioning themselves to exploit the burgeoning US soccer market. By embracing innovative engagement tactics and strategic partnerships, these clubs aim to capture the interest of millions of undecided American fans.
However, the path is fraught with challenges, from competition with other European giants to navigating the existing popularity of Major League Soccer. Nevertheless, the financial rewards and potential growth in fanbase make this venture a promising and worthwhile endeavour.