⛳ The MASTERS 2024: Economics
⛳ The MASTERS 2024: Economics
A look at the money at the Masters in 2023 and what that means for 2024
It’s a little earlier this week due to it being Masters week. As we gear up for the action, I wanted to take a look at the economics of last year's event and some interesting points for this week.
In 2023, the Masters once again proved why it is at the pinnacle of tournaments in golf. John Rahm secured his place in history by claiming his first green jacket, becoming the tournament's 23rd international winner. Rahm's victory marked a great moment for Spanish golf, as he became the first player from Spain to win the Masters since Sergio Garcia's triumph in 2017.
For Rahm, this victory was not only his first Masters win but also his second major title, following his impressive performance in the 2021 US Open. His skill and determination earned him a substantial share of the $18 million prize purse, with Rahm taking home a very nice $3.24 million.
Last year's Masters saw a surge in viewership, with millions tuning in to witness the drama unfold. The final round of the tournament attracted up to 15 million viewers at its peak, with over 16 million viewers in total. This marked a significant increase in overall viewership compared to the previous year (10.1 million), making it the most-watched golf event on any US network in the previous five years.
One thing I love about the Masters is that despite its immense popularity, the tournament maintains its unique approach to broadcasting and sponsorship. Augusta National Golf Club allows major television networks to broadcast the tournament free of charge, retaining full control over the broadcast to preserve the event's mystique and tradition. While this may mean foregoing potential profits, the Masters prioritizes maintaining its prestigious reputation above anything else.
Stats breakdown (2023)
Rahm took home $3.24 million from the $18 million prize purse.
The final round attracted up to 15 million viewers at its peak.
Augusta National Golf Club is estimated to miss out on $269 million in potential profit.
The domestic TV rights for the tournament are estimated to be worth over $100 million.
The tournament has only six total sponsors, including companies such as Rolex, IBM, AT&T, Delta, UPS, and Mercedes Benz.
The sponsors share four minutes of commercials during an hour of broadcasting.
The Masters brings in $70 million from merchandise sales.
The Masters capitalize over $20 million annually with their international broadcasting rights.
What about 2024?
Viewership for the Masters is likely to be strong as it’s the event, much like the Ryder Cup, that even the most casual of fans want to pay attention to. With all of the divisiveness in recent years and possibly the lack of Tiger-on-the-prowl action, other events have seen a drop in viewership, for example, the final round of The Players Championship was down from an average of 4.14m in 2022 to 3.53m this year.
On the Tiger note, I do think golf is currently lacking that stand-out star who grips an audience and gets the media in a spin. When you think of Tiger, Brady, LeBron, Ronaldo, and others of that stature. They would have people tuning in every time waiting for something special to happen and even a section of society tuning in hoping to see them fail, so they can debate (argue) on social media platforms.
This era of golf has so much talent and a lot of winners on rotation so the story is different, I’d like to see someone like Scottie grab a hold of it and go on a big run of victories to show his dominance, which he is more than capable of. I’d also like to see Rory back to winning majors as I’m sure many others would too, we know he’s got it in him. I think Rory has more of a character that people can buy into or not, whereas Scottie is such a nice guy, and as much as we like him for that, it’s not a needle mover when it comes to attracting audiences unless he becomes so dominant and starts to pick up majors regularly. I digress.
Masters Money 2024
The Masters will offer another big prize fund in 2024. The specifics have yet to be confirmed (from what I can see) but I would suspect the prize money totals will be similar to 2023.
TOTAL: $18,000,000 (TBC)
Masters Odds 2024
If you’re into a wager or two, BetMGM (and every other bookie I’ve seen) have Scottie as the favourite, unsurprisingly on current form. Anything can happen on the golf course but Scottie is as safe a bet as any.
How to watch The Masters
TV: ESPN, CBS, CBS Sports Network, Sky Sports (UK)
Stream: Paramount+, Fubo, ESPN+
Coverage for The Masters will begin at 3 p.m. ET on Thursday, April 11.
I’m excited about it as I’m sure you are too. One of the alluring factors about the Masters is that it never fails to deliver excitement, drama, and unforgettable moments that will be remembered for years to come. Here’s to a great week of golf!
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