Cricket Australia (CA) today released its Annual Report for 2022-23.
• In the 2022-23 financial year, CA reported a net loss of $16.9 million driven by an expected low point in our revenue cycle with lower media rights and match revenues during a non-Ashes year.
• Strategic investment was made in the Big Bash Leagues including significant pay increases and the implementation of the first player drafts to ensure the leagues retained their status among the world’s best T20 competitions in an increasingly competitive global landscape.
• CA signed a $1.512 billion seven-year media rights deal with the Foxtel Group and the Seven West Media to broadcast cricket in Australia from 2024-31 and a new seven-year deal with Disney Star for the right to broadcast Australian cricket in India helping to underpin the game’s long-term financial security.
• Australian Cricket negotiated a five-year MOU with the Australian Cricketers’ Association that included an overall increase from $80 million to $133 million in payments to contracted women’s players over the life of the agreement.
• Australian Cricket completed the “secure” phase of the five-year strategy ensuring the foundations of the game were strong. It now embarks on the “enhance” phase in which it will seek to fast-track growth in areas including commercial revenue, participation and attendances.
• The Australian men’s team won home series against the West Indies and South Africa, won its first ICC World Test Championship and retained the Ashes after a drawn 2-2 away series.
• The Australian women’s team won home series against Pakistan, an ODI series in India, the ICC Women’s World Cup in South Africa, the Commonwealth Games gold medal and retained the Ashes in the multi-format series in England.
• Australia’s successfully hosted the T20 World Cup bringing enormous crowds to stadiums including 92,000 for the match between India and Pakistan at the MCG – informing Australian Cricket’s strategy to engage multicultural communities.
• CA received a $43m dividend for hosting the T20 World Cup emphasising the financial benefits of bringing ICC events here.
• There was a record distribution of funds allowing stakeholders including State and Territory Associations to continue their leading role in the development of the game.
• KFC BBL11 was the again the most watched sports league in Australia on a per-game linear TV basis with an average 532,000 viewers, while the return of full crowds to venues included a sold-out crowd of 53,866 for the final between the Perth Scorchers and Brisbane Heat at Perth Stadium.
• With full seasons played registered participation rates in community cricket continued to return to near record pre-COVID rates with an increase from 598,931 to 627,693.
• Registered participation for Woolworths Cricket Blast increased by 24% from 56,464 to 69,879 and more than 25,000 girls aged 5-12 registered to play cricket as Australian Cricket continued its strategy to double the number of 5-12 year-olds playing cricket over five years.
Further context around the financial result:
• Despite not being an Ashes year, total revenue increased by 9% due to the strong financial performance of the T20 World Cup which delivered a $43m dividend to Australian Cricket.
• The upside in the T20 World Cup performance has driven an increase in the player revenue share and a sharing of upside with the States and Territories, with funding at an all-time high level increasing by $7m to $120m
• Total expenses excluding player payments increased by 5% reflecting full delivery of programs, higher travel costs post Covid and investments in the Big Bash League and the new grassroots cricket system.
Directors Vanessa Guthrie, Richard Freudenstein, Mike Baird and Paul Green whose terms were due to end were all re-elected to the CA Board.
Mike Baird, Cricket Australia Chair, said:
“This has been a year of high achievement for Australian Cricket with the completion of the media rights deal, the MOU and other significant initiatives putting the game on a strong footing, while our national teams again performed brilliantly on the global stage.
“Cricket has reached an important moment with the continued emergence of franchise cricket creating both significant challenges and enormous opportunities as interest in our sport grows.
“As a global leader, we believe CA is well placed to play a strong role in shaping the future of cricket including fulfilling our commitment to the primacy of Test cricket and maximising the benefits of our status as an Olympic sport to broaden the game’s horizons.
“At the same time, the achievements of the past year have put us in a strong position to fully exploit the commercial opportunities available to cricket as Australia’s national game and, as importantly, to nurture grassroots cricket.
“We are grateful to the State and Territory Associations who continue to play a leading role growing the game and also to the local associations, clubs and volunteers whose hard work continues to ensure cricket has a place at the heart of all Australian communities.”
Nick Hockley, Cricket Australia CEO, said:
“This has been a landmark year for Australian Cricket, during which we secured the foundations of the game and put cricket in a position to seize on the enormous opportunities ahead.
“The completion of media rights agreements with the Foxtel Group, Seven West Media and Disney Star gives Australian Cricket unparalleled coverage and reach, whilst the negotiating of a new player MOU which caters for changing dynamics in the global game also provides confidence and certainty across Australian Cricket.
“During what was our highest attended summer on record, we hosted a successful T20 World Cup and made strategic investments in the Big Bash Leagues and kids participation that will benefit the game for years to come.
“We are immensely proud of the performances of our national teams with the Australian women’s winning Commonwealth Games Gold, a T20 World Cup and retaining both the Ashes and their No.1 position across all formats and the Australian men’s team winning a first ICC World Test Championship and retaining the Ashes; while our national inclusion teams continue to inspire people of all abilities to play cricket.
“We are enormously thankful for the collaboration of all those across Australian Cricket including players, volunteers, fans and our valued broadcast, commercial and government partners who working together bring cricket to audiences across Australia and around the world.”
ENDS
