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New Zealand Rugby advises of significant profit downturn through 2018 financial year
New Zealand Rugby has reported a small loss of $1.86 million for the 2018 financial year, contrasting with a $33.4 million profit for 2017.
Income also fell significantly, from a high of $257.3 million in 2017, a year when the British and Irish Lions toured the country, to $189.5 million last year.
A written commentary on the result signed by New Zealand Rugby Chair, Brent Impey and Chief Executive, Steve Tew, noted that while they were “pleased” with the outcome, “these are still challenging times for rugby… our long-term financial projections still show us spending more money than we are earning.”
The statement advised “while the upcoming broadcast deal and advancements in digital technology will provide us with short-term revenue gains, the costs of our game continue to escalate… there are no silver bullets.”
Commenting on the country’s successful bid to host the 2021 Women’s Rugby World Cup, the pair advised that they could not “overstate how much of a highlight it was to be in Dublin for the announcement”.
New Zealand was chosen to stage the event by World Rugby at its Council meeting in the Irish capital last November, beating only rivals Australia by 25 votes to 17.
Broadcast rights remained the biggest source of income for New Zealand Rugby in 2018, generating $73.3 million, down from $104.6 million the previous year.
Sponsorship and licensing income was not far behind, at $68.1 million, up from $62.5 million, while match-day income fell to $28.1 million, down from $64.6 million.
On the expenditure side, administration accounted for only $13.3 million - or around 7% - of the total of $191.4 million for 2018.
Game development absorbed $31.6 million, while competitions accounted for $88.5 million and so-called “teams in black” $57.3 million.
The All Blacks will attempt to secure a third consecutive World Cup victory, and a record fourth overall, in Japan later this year.
However, the Rugby World Cup will see fewer Tests staged in New Zealand during the current season which is likely to put further downward pressure on New Zealand Rugby's income.
Image: The All Blacks at Eden Park.
22nd March 2019 - SANZAAR to axe Sunwolves from Super Rugby after 2020 season
14th March 2019 - Hamilton gets extended run with World Rugby Sevens Series event
7th February 2019 - 2019 Rugby World Cup approaches sell-out
16th November 2018 - New Zealand secures 2021 Women’s Rugby World Cup hosting
8th August 2018 - New Zealand Rugby calls meeting to help fans tackle ticket resellers
26th April 2018 - All Blacks to play in Christchurch in 2018
3rd March 2018 - Lions tour helps deliver 2017 profit for New Zealand Rugby
20th December 2017 - All Blacks experience will bring fans closer to their rugby heroes
6th June 2017 - Eden Park ready to host British and Irish Lions matches
26th April 2017 - New Zealand Rugby 2017 Festival to deliver economic benefits
15th December 2011 - 93% of Kiwis caught Rugby World Cup action
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