The United States sports market is dominated by large companies with annual revenues exceeding $1 billion. These conglomerates have a significant presence in various markets, including fashion, media, sports betting, and fitness. Demand for sportswear, online streaming, and interactive fan-to-fan communication has fueled consistent market growth. Leading brands continue to influence health, entertainment, and national consumer behavior. 


1. Nike, Inc.


Nike is the leading sports company in the US. Nike reported revenues of $46.31 billion for fiscal year 2025, a decrease of almost 10% from $51.36 billion in 2024. 

Nike accounts for approximately 68% of total footwear sales, followed by apparel at 28%, and other sports categories at 4%. Nike has reported improved profitability trends in line with prudent expectations for the fiscal year 2026. The company's core strengths include innovation, global brand development, digital direct sales, and the accessibility of both direct and wholesale channels.


2. Fanatics, Inc.


Fanatics Inc. achieved revenue of $8.1 billion in 2024, representing a 15% increase from the previous year. The company's core commerce division, which covers jerseys and branded gear, generated approximately $6.2 billion in revenue in 2024. 

Fanatics Collectibles generated $1.6 billion in revenue in 2024, primarily driven by trading cards and memorabilia, with its sportsbook unit delivering approximately $300 million in net revenue for the same year. The company is projected to reach $12 billion in revenue by 2026. Fanatics grew rapidly by consolidating licensed merchandise, trading cards, and betting under a single cohesive platform.


3. Under Armour, Inc.


Under Armour reported $5.16 billion in revenue for the fiscal year ending March 31, 2025 - reflecting a decline of roughly 9% from $5.31 billion in revenue in 2024. The company's North American sales decreased by approximately 8–10%, while international sales increased modestly. The firm has begun restructuring to reduce profit declines in key markets. Under Armour remains a major supplier of performance apparel to athletes, teams, and sports consumers.


4. MGM Resorts International / BetMGM


MGM Resorts International reported $4.40 billion in total revenue for Q2 2025, up 1.8% from 2024. Its digital unit (including BetMGM) saw a 14% revenue increase during the same quarter. 

BetMGM earned $2.1 billion in net revenue in 2024, up 7% from 2023, with a forecast of at least $2.7 billion in net revenue for 2025. MGM and BetMGM benefit from strong online sports‑betting growth across the US.


5. Garmin Ltd. (Sports & Fitness Segment)


Garmin offers a range of sports and fitness watches, as well as outdoor and cycling devices. The sports technology company is expected to have an approximate revenue outlook of $7.1 billion for 2025 across all business segments. While Garmin sells across various sectors, including aviation, marine, and automotive, its sports technology remains a core pillar of growth. Garmin's wearables are specifically designed to cater to athletes and outdoor enthusiasts, providing GPS and fitness data.


6. NFL (via league media, licensing, and sponsorship)


The National Football League stands as the highest‑earning US sports league by revenue alone. The NFL generated approximately $18 billion in revenue in 2023, deriving its income from media rights, ticket sales, sponsorships, venue income, and licensing deals. The NFL continues to lead the US sports market in fan engagement, broadcasting revenue, and premium partnerships, with likely revenue growth in 2024‑25.


7. Major League Baseball (MLB) League + Franchise Income


Major League Baseball and its respective teams generated approximately $11.5 billion in collective revenues for 2023‑24. Within this timeframe, the New York Yankees had the highest team annual revenue at roughly $705 million. 

Revenue streams include national and local TV broadcast rights, merchandise deals, sponsorships, and ticket sales. MLB ranks among the largest sports leagues in the US, both in terms of brand value and consumer penetration.


8. National Basketball Association (NBA) Franchise Revenue


The combined revenue of the NBA franchise was $11.3 billion in the 2023‑24 season. The league ranks second among US sports leagues in total revenue. Basketball teams such as the Golden State Warriors and the New York Knicks have the highest individual team earnings. The NBA generates revenue through sponsorship, broadcasting, ticket sales, and licensed merchandise.


9. TKO Group owns UFC and WWE, major U.S. combat sports brands.


In 2023, the UFC (Ultimate Fighting Championship) generated approximately $1.406 billion in revenue. WWE reported $1.398 billion in revenue for the same year. Both WWE and UFC, combined, make the TKO group (which owns both entities) one of the highest-earning sports companies in the US. The company operates live events, streaming platforms, merchandise, media production, and licensing. TKO represents a fusion of combat sports and entertainment under a single publicly traded entity.


10. ESPN / Disney Sports Media


While not strictly standalone, ESPN, under Disney, generates significant sports media revenue. ESPN revenue rose 5% in Q1 2025, reaching $24.7 billion for its sports division. 


Domestic ESPN advertising revenue grew 7% year-over-year in Q1 fiscal 2025. Operating income for the sports division reached $247 million, reversing a loss from the previous year. In Q4 2024, revenue reached $3.856 billion, encompassing both domestic and international ESPN operations.


Why are These Sports Companies Leading in Revenue?


The sports companies listed in this article benefit from significant fan engagement across various platforms, driving revenue growth. Licensed products, collectibles, and apparel drive the revenue of Under Armour, Fanatics, and Nike. Franchise revenue and media rights power the earnings of the NFL, TKO Group, NBA, and ESPN. Sports betting and iGaming growth underpin firms like BetMGM, as well as Garmin's wearables pipeline. Digital technology and live commerce are rapidly expanding revenue streams across all categories.



US online sports betting income saw record highs in 2024. Fanatics and BetMGM expanded their betting offerings to target engaged fans, in line with emerging trends. 

Wearables, AI, VR, and intelligent stadium platforms are further driving higher revenue returns, attracting significant investments in sports technology. 


As ISNation (the startup I currently work for) opens our first round of seed funding, we’ve spoken to numerous wealth management companies, and VC funds. While the above info showed where the current money lies, the sports industry is seeing a strong push toward promoting athlete mental health. We’re also seeing early signs of investor interest in authenticity signals in the growing saturation of AI content that we are currently faced with.  


Meanwhile, collaborations between sports leagues, fashion brands, and media channels continue to create consumer interest as a key growth trend. Collectors markets and memorabilia are also key factors in contributing to revenue growth, driving rankings.

 

The Powerhouses Behind America's Sports Economy


The ten companies listed in this article illustrate the breadth and scale of the US sports revenue ecosystem. 


Nike leads the rankings with $46 billion in annual revenue from its global apparel and footwear operations. Fanatics commands $8 billion in branded commerce and a rapidly growing collectibles business, while Under Armour continues to remain relevant with $5 billion in revenue despite restructuring challenges. 


BetMGM and MGM showcase the strength of sports betting revenue streams, and leagues like the NFL and NBA emphasize the success of media content and licensing. Together, these companies highlight a diverse sports economy where apparel, betting, media, and tech intersect.