APT (Advanced Polymer Technology) is the leading global manufacturer of polyurethane-based materials, acrylic coatings and synthetic turf products for sporting and recreational applications. From…read more
Profit downturn presents challenges for Cricket Australia
The importance of Cricket Australia's forthcoming negotiations for new broadcast deals, both at home and in the lucrative Asian market, have been underlined by the sport having posted a significant fall in profits for the 2015/16 financial year.
After posting an $98 million surplus for 2014/15, and a more modest $9 million for 2015/16, Cricket Australia is projecting a $68 million loss in the current financial year.
However, the sport has strengthened up its asset base by nearly $100 million while its cash reserves have risen by nearly $118 million – to $198.86 million from $80.9 million.
Cricket Australia’s surplus in 2014/15 was a one-off fuelled by Australia co-hosting the Cricket World Cup with New Zealand which boosted income by an extra $51 million.
With a well-established four-year revenue cycle to factor in the fluctuations created by inbound summer visitors – with Ashes and India tours bankrolling all others - the sharp change from one year to another present challenges for the sport.
Cricket Australia hinted that this year’s drop in profits could also be attributed to reduced international media rights revenue in the current year with tours by Pakistan and South Africa less popular than other sides.
Negotiations are yet to begin for domestic broadcast and digital rights which will begin for the 2017/18 season, with a major boost in revenue expected from the Twenty20 Big Bash League.
Overall revenues are also slightly down to $339.8 million from $380.8 million in the previous year while incoming cash flows from paying spectators, media, sponsors and customers increased to $512.26 million from $320.19 million
Commenting on the body’s finances, Cricket Austalia Chairman David Peever admitted he would like to see a less "lumpy" set of numbers.
Peever explained “(we) have to accept the fact that we're dealing with a reality in terms of the lumpiness of the revenue flow.
“At this stage, it's a fact of life, but I think we would certainly prefer that we didn't have such large fluctuations.
“But, knowing we have them means we have to plan over the four-year cycle and deal with it."
Five of the six state associations had recorded profits but Cricket Australia had ever-so-slightly increased the amount given to each state association to $106.26 million from $106 million the previous year.
More than 1.7 million people attended international cricket, the Big Bash League and the Women’s Big Bash League during 2015-16, making it the country’s most attended cricket season on record.
Participation in the game from a grassroots level upwards increased by 8.5% from 2014/15, with a record 1,311,184 participating around the nation last year.
Female participation in cricket also reached new record levels in 2015/16, growing nine% to 314,936, representing 24% of all participants in the sport.
Click here to read Cricket Australia’s financial report.
Top image: Twenty20 cricket at ANZ Stadium
17th October 2016 - CRICKET AUSTRALIA TO STAGE STANDALONE WOMEN’S WORLD T20 TOURNAMENT
9th May 2016 - BIG BASH LEAGUE ENJOYS TOP SPORT VIEWING RATINGS
20th February 2015 - EIGHT TEAMS ANNOUNCED FOR CRICKET AUSTRALIA WOMEN’S BIG BASH LEAGUE
31st March 2015 - MASSIVE CROWD NUMBERS FOR CRICKET WORLD CUP
11th February 2015 - AUSTRALIA AND NEW ZEALAND CONFIRMED AS HOSTS FOR 2020 WORLD TWENTY20
16th September 2014 - CRICKET ATTRACTS MORE THAN A MILLION PARTICIPANTS
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
BODY BIKE® International is a leading manufacturer of indoor bikes with a 20-year track record of creating the best indoor bikes. Stay connected with Body Bike Australia…read more
Founded in 1961, Myrtha Pools® quickly became Italy’s première swimming pool company, and has since grown into one of the world's leading swimming pool construction…read more
SeatGeek is a search engine and mobile-focused ticket marketplace that allows fans to buy and sell tickets for live events. As of August 2018, SeatGeek has exited the Australian, New…read more
As of 2018, TicketServ operates as SeatGeek Asia Pacific Pty Limited, part of international ticketing platform SeatGeek. Click here to contact SeatGeek Asia Pacific via their entry in…read more
Turnstile Entry Systems and Access Control Centaman Entrance Controls’ Award Winning Range of Access Control Systems includes tripod & triarm turnstiles, speedgates, full height…read more
About Priava's Technology - Priava is a cloud-based and centralised venue and event management system aimed at venues of all sizes. With its familiar and easy-to-use web interface, the…read more
The Fitness Generation is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!