During the 2022/23 season, the Miami Heat generated 371 million dollars in revenue. This was an increase of around 14 percent from the previous year for the three-time National Basketball Association (NBA) champions.
What are the Miami Heat’s sources of income?
A significant chunk of the team’s net income is from the Miami Heat’s gate receipts, which made up over a quarter of its total revenue in 2022/23. This exceeded the average share of revenue from ticketing in the NBA, which stood at 21.57 percent that season. Despite losing its stadium sponsor, FTX, following the latter's bankruptcy in 2022, the Heat also have a wide array of partnership deals with companies such as jersey patch sponsor Carnival Cruise Line and new stadium sponsor Kaseya.
What is the average revenue of an NBA franchise?
In addition to the Heat outperforming the league’s average in revenue from gate receipts in 2023, the franchise was also ahead of the NBA's average for revenue per franchise. Nevertheless, the Heat were some way behind the Golden State Warriors, whose net income of 765 million U.S. dollars in 2022/23 made them the NBA team with the highest revenue that year.
Revenue of the Miami Heat from 2001/02 to 2022/23
(in million U.S. dollars)
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Forbes. (October 26, 2023). Revenue of the Miami Heat from 2001/02 to 2022/23 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/196724/revenue-of-the-miami-heat-since-2006/
Forbes. "Revenue of the Miami Heat from 2001/02 to 2022/23 (in million U.S. dollars)." Chart. October 26, 2023. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/196724/revenue-of-the-miami-heat-since-2006/
Forbes. (2023). Revenue of the Miami Heat from 2001/02 to 2022/23 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/196724/revenue-of-the-miami-heat-since-2006/
Forbes. "Revenue of The Miami Heat from 2001/02 to 2022/23 (in Million U.S. Dollars)." Statista, Statista Inc., 26 Oct 2023, https://www.statista.com/statistics/196724/revenue-of-the-miami-heat-since-2006/
Forbes, Revenue of the Miami Heat from 2001/02 to 2022/23 (in million U.S. dollars) Statista, https://www.statista.com/statistics/196724/revenue-of-the-miami-heat-since-2006/ (last visited November 22, 2024)
Revenue of the Miami Heat from 2001/02 to 2022/23 (in million U.S. dollars) [Graph], Forbes, October 26, 2023. [Online]. Available: https://www.statista.com/statistics/196724/revenue-of-the-miami-heat-since-2006/
