Copyright Los Angeles Times
Amid the recent success of the Los Angeles Dodgers and the $10 billion valuation and sale of the Los Angeles Lakers, a slew of Southern California sports teams supported $12.1 billion of economic activity in 2024, according to a new report from the Los Angeles County Economic Development Corporation. That was a 3.4% increase from the prior year. The findings, commissioned by the Los Angeles Sports Council, were unveiled at the annual L.A. Sports Innovation Conference held at Intuit Dome. In addition to the 12 professional sports teams based in Southern California, the region is home to major annual events such as the Acura Grand Prix of Long Beach, U.S. Open of Surfing, The Genesis Invitational, the Rose Bowl game in Pasadena and the Los Angeles Marathon. “Sports are one of Southern California’s most powerful economic engines,” said Matt Cacciato, president of the Los Angeles Sports Council, in a statement. “From the Dodgers’ championship run to record crowds across our venues, sports continue to unite communities, drive local investment, and showcase Los Angeles on the global stage. As we look ahead to the 2026 FIFA World Cup and LA28 Olympic and Paralympic Games, this growth underscores how integral sports are to the region’s identity and future.” The region’s sports organizations at large supported nearly 93,000 jobs and contributed nearly $726 million in state and local taxes, each figure representing record highs. This growth was fueled by higher direct revenues from both professional and collegiate sports attributed to rising attendance, event expansion and increased labor income. The report noted that local universities have professional degree programs in fields related to sports business. There were two new programs launched in 2024: Loyola Marymount University’s Master in Entertainment Leadership and Management and UCLA’s Sports Leadership and Management MBA specialization. “Los Angeles is an economic engine, providing a platform for global sports entertainment, international tourism and major private investment,” said Mayor Karen Bass in a statement. “As L.A. prepares to step onto the world stage to host major sporting events, we are ready to ensure that every corner of our city can benefit economically. From job growth to supporting our small businesses, we are working to create opportunities for generations to come.” The report’s release coincided with a day of thought leadership and insightful analysis from leaders across the sports, business, tech and journalism industries. The L.A. Sports Innovation Conference, hosted by the Los Angeles Sports Council, brought together executives, athletes, media figures, and policymakers to explore how innovation is shaping the future of sports in Los Angeles and beyond. Panel discussions topics ranged from emerging technologies and fan engagement to infrastructure and venue development, sports media’s evolution, and the changing landscape of sponsorships and partnerships. The event featured insights from organizations such as ESPN, AECOM Hunt, Gensler and Spectrum SportsNet, offering a cross-section of the people and ideas driving one of the region’s most dynamic sectors. “The data clearly shows that sports are more than entertainment, they’re a major driver of jobs, tourism, and economic opportunity across our region,” said Stephen Cheung, chief executive and president of the Los Angeles County Economic Development Corporation, in a statement. Held annually, the conference serves as a key forum for collaboration ahead of major global events like the 2026 FIFA World Cup and the LA28 Olympic and Paralympic Games, spotlighting Greater Los Angeles as a leader in sports innovation, economic growth and community impact.
