GREEN BAY (NBC26) — Despite an increase in expenses, revenue climbed again for the Green Bay Packers.
- Packers earned $654.1 million in revenue (up 7.2%)
- Total expenses increased ($594 million) due to facility, concourse and video board improvements.
- Packers net income in 2024 was $98.1 million compared to $35.6 million in 2023.
- Titletown District has also contributed to financial health.
- Packers expect ticket prices to continue to be lower than the league average.
(The following is a transcription of the full broadcast story)
The Green Bay Packers said revenue, expenses and net income are among many numbers that grew.
The report represents overall performance from April 1, 2023 through the end of this March.
Total revenue grew to more than $654 million (up 7.2% from 2023).
The Packers say NFL Broadcast contracts, the number of home games and even the Titletown district played vital roles in the increase.
Expenses also rose 9.7% to $594 million.
Packers president and CEO Mark Murphy said the new video board and facility and concourse improvements were the main factors.
Although earning more than $60 million in operating profit, that number is down 8.6% from last year's $68.6 million earning.
Murphy says that's mainly because of increased expenses.
"The future is really bright not just for the league but for the Packers," Murphy said. "I think the way the season the ended last year, with the team making the playoffs and winning a playoff game, there's a lot of excitement going forward."
Murphy says the Packers are spending around $1 million dollars on the NFL draft, but the team won't receive money from the Draft since it is an NFL event.
Murphy also reiterated Netflix streaming NFL games on Christmas as a future... avenue of revenue if the Packers are scheduled to play. He also mentioned that international games are projected to be scheduled every other year.
Additional information presented at the meeting:
- Murphy said the Packers are "hopeful" to come to a deal with the city on a lease agreement.
- Packers said the goal this year is to have ticket prices remain below the league average — something administration said they've consistently done.
- Since the season opener in Brazil vs. Eagles is an "Away" game for the Packers, it will not negatively impact local revenue (2022 same in London vs. Giants resulted in lower local revenue numbers that year).
- There are six years left on the franchise's collective bargaining agreement.
- Murphy says he is hopeful the team will come to a contract extension agreement with QB Jordan Love.
