MELBOURNE, 26 October 2023: Cricket Australia (CA) has posted a loss of $ 16.9 million in 2022-2023 despite $ 43 million T20 bonanza. The figures revealed in it’s 2022-23 annual report released today, the CA blames the revenue downturn as: “by an expected low point in our revenue cycle with lower media rights and match revenues during a non-Ashes year.”
The successful holding of T20 amid the spectacular India-Pakistan match at the Melbourne Cricket Ground (MCG) which attracted 92,000 strong crowd, was a silver lining for CA, but also reflected the passion and love of the Indian Subcontinent people for Cricket. The outcome being driven by record immigration of Indians into Australia.
Takeaways from the annual report:
– In the 2022-23 financial year, CA reported a net loss of $16.9 million driven by an expected low point in our revenue cycle with lower media rights and match revenues during a non-Ashes year.
-Strategic investment was made in the Big Bash Leagues including significant pay increases and the implementation of the first player drafts to ensure the leagues retained their status among the world’s best T20 competitions in an increasingly competitive global landscape.
-CA signed a $1.512 billion seven-year media rights deal with the Foxtel Group and the Seven West Media to broadcast cricket in Australia from 2024-31 and a new seven-year deal with Disney Star for the right to broadcast Australian cricket in India helping to underpin the game’s long-term financial security.
-Australian Cricket negotiated a five-year MOU with the Australian Cricketers’ Association that included an overall increase from $80 million to $133 million in payments to contracted women’s players over the life of the agreement.
-Australian Cricket completed the “secure” phase of the five-year strategy ensuring the foundations of the game were strong. It now embarks on the “enhance” phase in which it will seek to fast-track growth in areas including commercial revenue, participation and attendances.
-The Australian men’s team won home series against the West Indies and South Africa, won its first ICC World Test Championship and retained the Ashes after a drawn 2-2 away series.
-The Australian women’s team won home series against Pakistan, an ODI series in India, the ICC Women’s World Cup in South Africa, the Commonwealth Games gold medal and retained the Ashes in the multi-format series in England.
-Australia’s successfully hosted the T20 World Cup bringing enormous crowds to stadiums including 92,000 for the match between India and Pakistan at the MCG – informing Australian Cricket’s strategy to engage multicultural communities.
-CA received a $43m dividend for hosting the T20 World Cup emphasising the financial benefits of bringing ICC events here.
-There was a record distribution of funds allowing stakeholders including State and Territory Associations to continue their leading role in the development of the game.
-KFC BBL11 was the again the most watched sports league in Australia on a per-game linear TV basis with an average 532,000 viewers, while the return of full crowds to venues included a sold-out crowd of 53,866 for the final between the Perth Scorchers and Brisbane Heat at Perth Stadium.
-With full seasons played registered participation rates in community cricket continued to return to near record pre-COVID rates with an increase from 598,931 to 627,693.
-Registered participation for Woolworths Cricket Blast increased by 24% from 56,464 to 69,879 and more than 25,000 girls aged 5-12 registered to play cricket as Australian Cricket continued its strategy to double the number of 5-12 year-olds playing cricket over five years.
Nick Hockley, Cricket Australia CEO, said, “We are immensely proud of the performances of our national teams with the Australian women’s winning Commonwealth Games Gold, a T20 World Cup and retaining both the Ashes and their No.1 position across all formats and the Australian men’s team winning a first ICC World Test Championship and retaining the Ashes; while our national inclusion teams continue to inspire people of all abilities to play cricket.
“We are enormously thankful for the collaboration of all those across Australian Cricket including players, volunteers, fans and our valued broadcast, commercial and government partners who working together bring cricket to audiences across Australia and around the world.”
Access report here.
