Dr Tingting Fan

27 May 2026

The 2026 World Cup is set to kick off next month, and this quadrennial event will once again tug at the heartstrings of hundreds of millions of viewers worldwide. Co-hosted for the first time by the US, Canada, and Mexico, the tournament will see the number of matches increase by over 62% from 64 in the previous edition to 104 this time, while its duration will be extended from 29 to 40 days.

As the most-watched sporting event in the world, the World Cup’s media rights are among the most expensive globally. Revenue from global broadcasting rights for the entire 2026 World Cup cycle is approximately US$4 billion. This accounts for 30% of the target revenue of the Fédération Internationale de Football Association (FIFA) for the 2023–2026 commercial cycle, and represents its largest single source of revenue.

Exceptional value of elite competition

The 2022 Qatar World Cup attracted 5 billion viewers worldwide. In other words, over half of the world’s population followed the same event during the same period. The final between Argentina and France alone captured the attention of 1.5 billion people, meaning that one in five people on Earth watched the match. Yet with tickets so hard to come by, only a very small number of spectators could watch the matches in person. The vast majority of football fans could only enjoy the games through TV or streaming platforms.

When millions upon millions of football fans are watching the same match, advertisers sense limitless business opportunities, various media outlets see a golden opportunity, and FIFA, as the supreme organizing authority, will certainly not pass up such an ideal way to generate revenue.

Broadcasting rights for the World Cup are usually granted to specific broadcasters for the transmission of matches in specified territories and periods. For example, in Hong Kong, the World Cup broadcasting rights have been sold to PCCW for US$25 million, with the group’s Now TV and ViuTV holding exclusive local broadcasting rights. Pay-TV operator Now TV will provide exclusive live coverage of all 104 matches, while the free-to-air broadcaster ViuTV will broadcast 25 selected matches free of charge, including the opening match and the final.

The commercial value pyramid

The high price of broadcasting rights is fundamentally determined by audience attention across different parts of the world. Notably, World Cup matches vary in their appeal. Among all the matches, only a very small number―the final and semi-finals―are capable of generating 30% of the core viewership, while less popular group-stage matches often attract less than 10% of viewers.

Given the enormous differences in audience numbers, advertising fees tied to ratings vary just as dramatically. The commercial value of each match naturally differs enormously. Even among group-stage matches, a match between weaker teams may be worth only US$10 million to US$20 million, whereas a match between stronger teams may be worth US$30 million to US$60 million. Once the tournament enters the knockout stage, the value of each match rises in a non-linear fashion. From the semi-finals to the final, the value can double, reaching as much as US$500 million.

With this in mind, the sky-high cost of the World Cup broadcasting rights can be likened to a pyramid. Of the 104 matches, the final and semi-finals contribute 60% of the commercial value. Matches between strong teams form the middle tier of the pyramid. Despite being group-stage matches, they nevertheless contribute 30% of the value. The bottom tier of the pyramid consists of numerous less popular group-stage matches, which contribute only about 10% of the value.

A profit strategy based on bundled sales

In light of the highly uneven commercial value of more than 100 matches, the best way to sell World Cup broadcasting rights is, of course, not to sell the rights to each match separately, but to package the broadcasting rights for all matches together as a bundle. In fact, FIFA’s bundling strategy for the sale of broadcasting rights is not limited to the Men’s World Cup, but also involves bundling it with less commercially valuable events under its umbrella, such as the Women’s World Cup, the U-20 World Cup, as well as the U-17 World Cup. For instance, the package of broadcasting rights FIFA sold to the China Media Group for Mainland China this year bundled the 2027 and 2030 Women’s World Cups together with the 2026 and 2030 Men’s World Cups. The broadcasting rights sold by FIFA for the German market include the 2026 Men’s World Cup, the 2027 Women’s World Cup, and the U-20 World Cup.

Broadcast fees as variable “seasonal prices”

World Cup broadcasting rights have never been priced uniformly; instead, they are priced individually by country or region. The listed price and the final transaction price of World Cup broadcasting rights often differ greatly. Take Mainland China, for example. FIFA initially  asked US$300 million for the market, but eventually concluded the deal at US$60 million, well below its target. In India’s case, FIFA’s initial asking price was approximately US$100 million, while the Indian side offered only around US$20 million. As of this article’s publication deadline, the two sides had yet to reach an agreement.

During the negotiation process, which side has greater bargaining power depends on a range of factors, including local interest in football, whether the national team is participating, the time difference between the host country and the local market, the size of the advertising market, the intensity of competition among local media outlets, and how much time left for the negotiations before the World Cup opens.

As one of this year’s host countries, the US will field its own team in the tournament. Local audiences will be relatively unaffected by time-zone differences, and the nation also boasts a huge and lucrative advertising market. Together, these factors explain why World Cup broadcasting rights on American soil have fetched the highest price, with the total contract value reaching approximately US$1.25 billion. By contrast, despite a large football market and a very passionate fan base in the Mainland, the Chinese national team failed to qualify for the World Cup. In addition, the time-zone difference will seriously affect audience numbers and advertisers’ bidding plans. The dominance of a single media outlet in the Mainland also means that competition among broadcasters is virtually non-existent.

With the World Cup drawing close, FIFA would rather cut its asking price than lose access to the enormous Chinese market. In India, another major Asian country, football’s popularity there pales in comparison with that of cricket, resulting in a smaller market and especially strong downward pressure from buyers.

When we watch players give their all on the pitch in front of the television, celebrate our favourite team’s victory in a bar, or replay World Cup highlights on our mobile phones, our undivided attention, full engagement, and even casual conversations after the match all help sustain the World Cup’s commercial empire, where broadcasting rights command astronomical prices.