NCAA announces 2020 basketball tournament games will have limited attendance

[dagdoggnh]

Details: https://www.ncaa.com/news/basketball-men/article/2020-03-11/ncaa-announces-division-i-mens-and-womens-basketball

[moneygamelover]

I noticed that it said "limited" family. So would that mean that family here means parents, siblings, and children ?

[dagdoggnh]

Absolutely, it does mean that.

[wrikent3500]

in a odd way the television and radio ratings and streaming numbers are going to be way bigger than normal and the NCAA and schools involved probably don't lose that much on ticket revenue and concession sales because the ad revenue and ratings are going to even that out in the end

[gamesurf]

NCAA's revenues in 2019 were $1.12 billion.

March Madness television rights alone are worth about $800 million each year. Last year's ticket sales brought in about $130 million.

Ad revenue for March Madness in 2019 was about $933 million. But why should the NCAA get any of that ad revenue? Isn't that income source what CBS/Turner is paying the NCAA $800 million for?

I don't see how bigger ratings would balance out the NCAA's losses. Maybe the NCAA would get a small cut of the ad revenue, but hard to imagine it would be $130 million worth. Unless the NCAA has a sweetheart bonus in their contract for meeting a certain ratings threshold, or can renegotiate quickly, the NCAA is still going to lose a lot of money on this.

[RatRace10]

Is there any chance of March Madness getting cancelled like NBA? I get it's a huge thing and it generates tons of money for CBS, though I'd be amused if it was because it means Wheel of Fortune doesn't get pre-empted in many cities. 

[bigblue999]

Is there any chance of March Madness getting cancelled like NBA? I get it's a huge thing and it generates tons of money for CBS, though I'd be amused if it was because it means Wheel of Fortune doesn't get pre-empted in many cities. 

A virus that's spreading fast, causing cancellations everywhere and you caring about Wheel airing in preemptive markets is a bit uncalled for.

[RatRace10]

You're right. I'm sorry. Wasn't trying to downplay it.

[Axl]

in a odd way the television and radio ratings and streaming numbers are going to be way bigger than normal...

Maybe from curiosity, but probably not from eyeballs that would otherwise be at the arenas.  The capacity of this year's Final Four venue is 71,000 people, which is the equivalent of about 1/20th of a ratings point.

Unless the NCAA has a sweetheart bonus in their contract for meeting a certain ratings threshold, or can renegotiate quickly, the NCAA is still going to lose a lot of money on this.

I have seen at least one report that says the NCAA is fully insured against losses on the basketball tournament.  Or at least it thinks it is (the underwriter may try to wiggle its way out of full payment).

[Teddy]

The coronavirus is having a ripple effect on the college hoops world: Not only are all the major conference tournaments cancelled, but the entire March Madness tournament is as well.