(Photo credit: Susan Mullane-Imagn Images)

Wimbledon is not only a grand slam tennis tournament but a major revenue generator expected to bring in more than half a billion dollars by its two-week conclusion, Sportico reported on Thursday.

The annual championship produced a 2024 haul of $555 million at current exchange rates, per the report. The All England Lawn Tennis & Croquet Club, operator of the event and the playing grounds, filed reports that showed a 7 percent increase from 2023 and 162 percent more than a decade ago.

The primary revenue source is media rights contracts, which are just less than 50 percent of the total. Walt Disney Co., through platform ESPN, has rights in the United States, while the BBC covers the United Kingdom.

Other main revenue streams flow from ticket sales and marketing partnerships.

Sportico noted broadcast revenue is likely to increase when the BBC's rights -- about $82 million annually -- expire after the 2027 tournament. Bidders could include Sky Sports and TNT Sports, which currently shares rights with the BBC.

Perhaps affecting the bidding in a negative way is a law in the United Kingdom that says culturally important sporting events (such as Wimbledon) are required to be available on a free broadcast in the country.

The BBC is getting value for its investment, as it reported that 225 million hours were watched over the two weeks in 2024, including a peak of 7.5 million for the men's singles final (Carlos Alcaraz over Novak Djokovic) and 4.1 million viewers for women's final (Barbora Krejcikova over Jasmine Paolini).

ESPN has broadcast rights to Wimbledon through 2035 in the United States.

--Field Level Media