Total operating revenue for the spectator sports, event promoters, artists and related industries grew 4.5 per cent to $9.1 billion in 2016, Statistics Canada reported on Friday.
Operating expenses increased 3.5 per cent to $8 billion.
This resulted in an operating profit margin of 11.3 per cent, up slightly from 10.5 per cent in 2015.
“For the first time since 2012, spectator sports accounted for the largest share of total operating revenue (36.4 per cent), edging out promoters by 0.2 percentage points. Promoters (presenters) of performing arts, sports and similar events had the second-largest share (36.2 per cent), followed by independent artists, writers and performers (23.1 per cent). Agents and managers for artists, athletes, entertainers and other public figures accounted for the remaining 4.3 per cent,” said the federal agency.
StatsCan said the spectator sports industry group, composed of teams playing for a paying audience, horse race tracks, racing events and independent athletes, had operating revenue of $3.3 billion in 2016, up 2.1 per cent from the previous year.
Operating expenses rose by 1.5 per cent, leading to an operating profit margin of 5.5 per cent.
Salaries, wages, commissions and benefits grew 7.1 per cent to $1.6 billion. In 2016, salaries, wages, commissions and benefits accounted for 51.1 per cent of total operating expenses, 2.7 percentage points more than in 2015, it said.
“Canadian sports teams and clubs from the National Hockey League, Major League Baseball, the National Basketball Association and Major League Soccer account for 69.1 per cent of total operating revenue for the spectator sports industry,“ added the federal agency.
The full report can be found at https://goo.gl/XF6dbp
Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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