GREEN BAY (NBC 26) — Packers President and CEO Mark Murphy led the meeting Friday to discuss the team's financials for the 2022 fiscal year (July 1, 2021-June 30, 2022).
Total revenue went up 14.2% between 2020 and 2022. Total revenue was $506.9 million in 2020, $371.1 million in 2021, and $579 million in 2022. Murphy called this a record in revenues. Breaking it down into local revenues, that went up 9.9%. Murphy said the ability to come back to tour Lambeau Field and enjoy the Atrium after being closed during the pandemic made a huge impact, as well as the Pro Shop, which had its best fiscal year.
Titletown also impacted local revenue. Murphy said he was very proud of how much the area has grown, and how it met and succeeded his expectations. He also calls it a community asset, and a priority and wants to improve the connection between Titletown and Lambeau Field as time goes on.
Nationally, the numbers jumped 17.3%, from $309.2 million to $347.3 million. This increase, Murphy said, mostly came from the 17th game the team had during the football season, as well as a mix of new TV deals.
It's important to note that this year's stock sale is not considered revenue. Overall, the team was pleased with the results of the sale. It grossed $64.7 million and added 177,000 new shareholders. All of that money goes toward stadium projects, like new video boards at the stadium and the ongoing work for concessions and concourse.
Expenses also went up 14.8%, from $409.9 million to $501.3 million. Murphy explained the pandemic, the player salary cap, and renegotiating player contracts played a part.
Other numbers to keep in mind: profit from operations increased 10.6% up to $77.7 million and net income increased from $60.7 million to $61.6 million. The only loss was with the investment fund, from $120 million to $5.1 million.
Murphy also talked about the estimated impact of the upcoming Manchester City vs. Bayern Munich soccer game at Lambeau Field. They predict this game will bring in around $10 million in revenue for the community. The Packers "will make a little" according to Murphy from that game. So far, ticket sales have been a success, they said, with at least one bought in every single state and in 19 different countries.
