Serie A won’t catch the Premier League by selling its rights better
Serie A was the creme de la creme in the nineties and noughties. Maldini, Totti and Gattuso were household names everywhere from the hills of Naples to the streets of Salford.
But that global prestige has waned and our own data shows that Italian football has nowhere near the same pull for overseas football fans compared to the Premier League. With private equity now circling the league’s global media rights, however, investors are smelling opportunity in closing that gap.
Rights are only one piece of the puzzle
Deloitte’s latest figures paint a grim picture for Serie A’s suits. Broadcast revenue has grown a mere one per cent, and sponsorship is hardly pulling up trees. But the reddest of flags is that international rights account for approximately a quarter of the league’s broadcast revenue, compared to the 40-50 per cent in England and Spain’s top-flight leagues.
It’s easy to point a finger at poor overseas salesmanship, but that feels reductive. Any self-respecting outside entity would run a tighter ship with less duplicated costs, and bespoke packages for various markets. That should improve the bottom line.
But the sticking point is always the audience. A smaller audience equals a smaller package, and broadcasters are unlikely to consider Serie A in the same bracket as Premier League-sized deals for a competition with a smaller and less consistent global following.
The Serie A question
That being said, Italian football’s heritage will always mean that the heavy hitters have a strong following overseas. But on a cold, rainy night in Lecce, even the biggest of global Serie A fans might find themselves flicking through the channels.
This contrasts sharply with the Premier League. Many facets of the competition can be enjoyed by international audiences. The jewel of the Premier League is its international mix of players and managers. It gives supporters a personal connection to clubs outside of the superstars, while gamification through fantasy football, creators and media coverage have enhanced the spectacle of the competition.
It’s only going to get harder for Serie A. The expanded Champions League is creating growing competition for attention, yet dwindling global appetites. When you can see the best teams across Europe competing midweek for the best part of 10 months, it’s hard to get enthusiastic for your average weekend’s fixtures outside of the domestic market.
Our research at MTM found that 10 per cent of non-Italian fans follow an Italian club as their second club, compared with 55 per cent of non-UK fans who follow a UK club. This provides a real opportunity. It means Serie A doesn’t have to be the coolest kid in school, and there is room to become the second club or league fans actively choose to follow.
Perth shouldn’t have been a pipe dream
Serie A is already attempting to build a bigger international following. Australia’s West Coast might not be where your mind first goes when you think of Catenaccio, but the plan to host AC Milan against Como in Perth was interesting. Despite the match getting canned, it is something Serie A should re-engage with.
There are no prizes for guessing that Milan playing in Australia would put people in seats. But when the final whistle blows, and the players board the plane, sustaining that initial interest becomes the million-Australian-dollar question.
Serie A needs those who attend to stay engaged, learn more about teams like Como and form a relationship with the wider league. Otherwise, one successful night in Perth will have a limited long-term impact.
An overseas match can provide the initial shove. The less glamorous work comes next, through creators who understand the local audience and YouTube formats that make Italian football easier to engage with.
Private equity can help Serie A grow internationally, but catching the Premier League depends on creating far more of the thing broadcasters actually buy: people who care enough to come back next week.
Chris Sadd is research director at MTM